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Companies / Health Care / Cullinan Therapeutics, Inc.
CGEM

Cullinan Therapeutics, Inc.

Health CareBiological Products
Ticker CGEMCAMBRIDGE, MAFiscal year ends DecemberBook value per share $5.23Diluted shares 61.5M

Cullinan Therapeutics, Inc. (Nasdaq: CGEM) is a biopharmaceutical company developing therapies for autoimmune diseases and cancer, with a pipeline spanning clinical and preclinical programs. Its lead immunology candidates are CLN-978, a CD19xCD3 bispecific T cell engager being studied in systemic lupus erythematosus,… From the company’s description.

In fiscal 2025, Cullinan Therapeutics, Inc. reported a net loss of $219.88M. Operations used $175.75M in cash.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
—
0.00%FY2025
$-219.88MFY2025
−31.2% year over year
Last 12 mo $-204.69M
-53.80%FY2025
−25.4 percentage points
Last 12 mo -63.62%
Cash & financing
$-175.75MFY2025
−21.0% year over year
Last 12 mo $-159.25M
$-175.80MFY2025
−21.0% year over year
Last 12 mo $-159.25M
—
59.7MFY2025
+9.7% year over year
Last 12 mo 61.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Cullinan Therapeutics, Inc. does

In the company’s own words

Cullinan Therapeutics, Inc. (Nasdaq: CGEM) is a biopharmaceutical company developing therapies for autoimmune diseases and cancer, with a pipeline spanning clinical and preclinical programs. Its lead immunology candidates are CLN-978, a CD19xCD3 bispecific T cell engager being studied in systemic lupus erythematosus, rheumatoid arthritis and Sjögren’s disease, and velinotamig, a BCMAxCD3 engager licensed for development outside Greater China. In oncology, CLN-049 is a FLT3xCD3 engager in clinical development for acute myeloid leukemia and myelodysplastic syndrome. The company also collaborates with Taiho Pharmaceutical on zipalertinib, an oral EGFR inhibitor for non-small cell lung cancer with EGFR exon 20 insertion mutations; Taiho is responsible for commercialization. Cullinan’s programs focus on T cell-engaging therapies, while zipalertinib provides a partnered small-molecule program. The company has no commercial products described among these programs and relies on third parties for much of its development and manufacturing work.

Company details
Sector
Health Care
Industry (SIC)
Biological Products
Headquarters
CAMBRIDGE, MA
Fiscal year end
December
CIK
1789972
SIC
2836

Financial performance, year by year

Fiscal 2021–2025 · USD
$-252.79M$-154.06M$-55.34M$43.38M$142.10M20212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Cullinan Therapeutics, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

176
funds hold it
0 of 35
superinvestors hold it
$278.17M
held by funds, at market
25.1%
of shares held by funds

Largest fund holders · Cullinan Therapeutics, Inc.’s weight in each

0.40%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets
T. Rowe Price New Horizons Fund, Inc.
PRNHX · T. ROWE PRICE NEW HORIZONS FUND, INC.
0.13%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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