Cullinan Therapeutics Inc

For the period ended Mar 31, 2025. Filed May 8, 2025.

About this filing

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, 2025 · Filed May 8, 2025

CGEM$11.23-4.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended March 31,
	2025	2024
Operating activities:
Net loss	$(48,501)	$(37,340)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense	9,374	8,227
Accretion on marketable securities	(2,311)	(3,306)
Depreciation and amortization	76	76
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,742	411
Accounts payable	1,720	1,214
Accrued expenses and other liabilities	(5,255)	(7,529)
Net cash used in operating activities	(43,155)	(38,247)
Investing activities:
Maturities of marketable securities	162,645	144,325
Purchase of marketable securities	(125,840)	(131,369)
Net cash provided by investing activities	36,805	12,956
Financing activities:
Issuance of common stock under equity-based compensation plans	—	1,085
Net cash provided by financing activities	—	1,085
Net decrease in cash and cash equivalents	(6,350)	(24,206)
Cash and cash equivalents at beginning of period	83,005	98,434
Cash and cash equivalents at end of period	$76,655	$74,228
SUPPLEMENTAL NONCASH DISCLOSURE
Non-cash investing and financing activities and supplemental cash flow information
Cash refunded for income taxes	$—	$(3,870)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.