Cullinan Therapeutics, Inc.

For the period ended Sep 30, 2026. Filed Nov 10, 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.

Sep 30, 2026 · Filed Nov 10, 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)

	Nine Months Ended September 30,
	2026	2025
Operating activities:
Net loss	$(152,753)	$(169,166)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity-based compensation expense	24,437	28,728
Accretion of discount on marketable securities	(1,787)	(5,375)
Depreciation and amortization	211	232
Changes in operating assets and liabilities:
Prepaid expenses and other assets	281	6,057
Accounts payable	293	40
Accrued expenses and other liabilities	1,972	1,843
Net cash used in operating activities	(127,346)	(137,641)
Investing activities:
Maturities of marketable securities	193,840	374,572
Purchases of marketable securities	(69,108)	(216,936)
Purchases of property and equipment	—	(38)
Net cash provided by investing activities	124,732	157,598
Financing activities:
Issuance of common stock under equity-based compensation plans	2,542	373
Net cash provided by financing activities	2,542	373
Net increase (decrease) in cash and cash equivalents	(72)	20,330
Cash and cash equivalents at beginning of period	88,332	83,005
Cash and cash equivalents at end of period	$88,260	$103,335
Non-cash investing and financing activities and supplemental disclosure of cash flow information:
Income taxes paid (net of refunds received)	$—	$(2,970)

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.