Cullinan Therapeutics, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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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.
Jun 30, 2025 · Filed Aug 7, 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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Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating expenses: | ||||
| Research and development | $61,030 | $36,259 | $102,489 | $66,905 |
| General and administrative | 14,768 | 13,768 | 28,305 | 26,111 |
| Total operating expenses | 75,798 | 50,027 | 130,794 | 93,016 |
| Loss from operations | (75,798) | (50,027) | (130,794) | (93,016) |
| Other income (expense): | ||||
| Interest income | 5,924 | 8,071 | 12,504 | 13,764 |
| Other expense, net | (181) | (72) | (266) | (116) |
| Net loss | (70,055) | (42,028) | (118,556) | (79,368) |
| Net loss attributable to noncontrolling interests | — | — | — | (192) |
| Net loss attributable to Cullinan | $(70,055) | $(42,028) | $(118,556) | $(79,176) |
| Comprehensive income (loss): | ||||
| Net loss | $(70,055) | $(42,028) | $(118,556) | $(79,368) |
| Unrealized gain (loss) on investments | 102 | (145) | 740 | (347) |
| Comprehensive loss | (69,953) | (42,173) | (117,816) | (79,715) |
| Comprehensive loss attributable to noncontrolling interests | — | — | — | (192) |
| Comprehensive loss attributable to Cullinan | $(69,953) | $(42,173) | $(117,816) | $(79,523) |
| Basic and diluted net loss per share attributable to Cullinan: | ||||
| Common stock | $(1.07) | $(0.68) | $(1.81) | $(1.43) |
| Preferred stock | $(10.70) | $(6.83) | $(18.12) | $(14.26) |
| Weighted-average shares used in computing basic and diluted net loss per share attributable to Cullinan: | ||||
| Common stock | 59,015 | 55,052 | 58,960 | 49,031 |
| Preferred stock | 648 | 648 | 648 | 648 |
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