Cullinan Therapeutics Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
CGEM$11.23-4.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net loss | $(37,340) | $(58,141) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Equity-based compensation expense | 8,227 | 7,259 |
| Accretion on marketable securities | (3,306) | (1,371) |
| Depreciation and amortization | 76 | 72 |
| Non-cash contributions from noncontrolling interests | — | 4 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 411 | (755) |
| Accounts payable | 1,214 | (630) |
| Accrued expenses and other current liabilities | (7,529) | 2,640 |
| Income tax payable | — | (75) |
| Net cash used in operating activities | (38,247) | (50,997) |
| Investing activities: | ||
| Proceeds from maturities of marketable securities | 144,325 | 104,482 |
| Purchase of marketable securities | (131,369) | (89,139) |
| Purchase of property and equipment | — | (159) |
| Net cash provided by investing activities | 12,956 | 15,184 |
| Financing activities: | ||
| Proceeds from issuance of convertible notes | — | 1,825 |
| Proceeds from (payments related to) net issuance of common stock under equity-based compensation plans | 1,085 | (36) |
| Net cash provided by financing activities | 1,085 | 1,789 |
| Net decrease in cash and cash equivalents | (24,206) | (34,024) |
| Cash and cash equivalents at beginning of period | 98,434 | 156,152 |
| Cash and cash equivalents at end of period | $74,228 | $122,128 |
| SUPPLEMENTAL NONCASH DISCLOSURE | ||
| Non-cash investing and financing activities and supplemental cash flow information | ||
| Cash paid (refunded) for income taxes | $(3,870) | $75 |
| Conversion of convertible note into noncontrolling interest | $— | $175 |
| Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities | $— | $49 |
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