Cullinan Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 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.
Sep 30, 2025 · Filed Nov 6, 2025
CGEM$11.31+4.7%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $103,335 | $83,005 |
| Short-term investments | 229,261 | 315,972 |
| Prepaid expenses and other current assets | 9,639 | 15,691 |
| Total current assets | 342,235 | 414,668 |
| Property and equipment, net | 489 | 683 |
| Operating lease right-of-use assets | 1,046 | 1,667 |
| Other assets | 361 | 366 |
| Long-term investments | 139,995 | 204,440 |
| Total assets | $484,126 | $621,824 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $1,722 | $1,682 |
| Accrued expenses and other current liabilities | 29,847 | 27,663 |
| Operating lease liabilities, current | 1,188 | 1,302 |
| Total current liabilities | 32,757 | 30,647 |
| Long-term liabilities: | ||
| Operating lease liabilities, net of current portion | — | 849 |
| Total liabilities | 32,757 | 31,496 |
| Commitments and contingencies (Note 9) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 647,500 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | — | — |
| Common stock, $0.0001 par value, 150,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 59,076,259 and 58,510,610 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 6 | 6 |
| Additional paid-in capital | 987,796 | 958,695 |
| Accumulated other comprehensive income (loss) | 973 | (133) |
| Accumulated deficit | (537,406) | (368,240) |
| Total Cullinan stockholders' equity | 451,369 | 590,328 |
| Noncontrolling interests | — | — |
| Total stockholders' equity | 451,369 | 590,328 |
| Total liabilities and stockholders' equity | $484,126 | $621,824 |
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