Cullinan Therapeutics, Inc.

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

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.

Jun 30, 2026 · Filed Aug 6, 2026

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

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Contents

Consolidated Statements of Cash Flows

(in thousands)

	Six Months Ended June 30,
	2026	2025
Operating activities:
Net loss	$(103,365)	$(118,556)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense	16,063	19,261
Accretion of discount on marketable securities	(1,331)	(4,017)
Depreciation and amortization	158	153
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,426	5,259
Accounts payable	2,883	779
Accrued expenses and other liabilities	(98)	(3,643)
Net cash used in operating activities	(84,264)	(100,764)
Investing activities:
Maturities of marketable securities	107,799	294,572
Purchases of marketable securities	(34,707)	(204,366)
Net cash provided by investing activities	73,092	90,206
Financing activities:
Issuance of common stock under equity-based compensation plans	1,480	373
Net cash provided by financing activities	1,480	373
Net decrease in cash and cash equivalents	(9,692)	(10,185)
Cash and cash equivalents at beginning of period	88,332	83,005
Cash and cash equivalents at end of period	$78,640	$72,820
Non-cash investing and financing activities and supplemental disclosure of cash flow information:
Cash refunded for income taxes	$—	$(2,970)
Purchases of property and equipment included in accounts payable and accrued expenses and other liabilities	$—	$38

ContentsView on SEC.gov

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