Cullinan Therapeutics Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| 2024 | 2023 | |
|---|---|---|
| Operating activities: | ||
| Net loss | $(167,575) | $(155,101) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Equity-based compensation expense | 37,824 | 30,438 |
| Accretion on marketable securities | (15,469) | (10,154) |
| Depreciation and amortization | 306 | 310 |
| Impairment of long-lived assets | — | 440 |
| Non-cash contributions from noncontrolling interests | — | 131 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (2,472) | (5,944) |
| Accounts payable | (812) | (167) |
| Accrued expenses and other liabilities | 2,895 | 10,054 |
| Income tax payable | — | (4,282) |
| Net cash used in operating activities | (145,303) | (134,275) |
| Investing activities: | ||
| Purchase of marketable securities | (721,131) | (373,383) |
| Maturities of marketable securities | 584,817 | 409,397 |
| Purchase of property and equipment | — | (208) |
| Net cash provided by (used in) investing activities | (136,314) | 35,806 |
| Financing activities: | ||
| Issuance of common stock and pre-funded warrants, net of issuance costs | 262,652 | 38,388 |
| Net issuance of common stock under equity-based compensation plans | 7,984 | 538 |
| Acquisition of noncontrolling interests | (4,448) | — |
| Net issuance of convertible notes | — | 1,825 |
| Net cash provided by financing activities | 266,188 | 40,751 |
| Net decrease in cash and cash equivalents | (15,429) | (57,718) |
| Cash and cash equivalents at beginning of period | 98,434 | 156,152 |
| Cash and cash equivalents at end of period | $83,005 | $98,434 |
| SUPPLEMENTAL NONCASH DISCLOSURE | ||
| Non-cash investing and financing activities and supplemental cash flow information | ||
| Conversion of convertible note into noncontrolling interest | $— | $2,000 |
| Cash refunded for income taxes | $(2,274) | $(4,433) |
See accompanying notes to consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.