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Companies / Healthcare / Cullinan Therapeutics, Inc.
CGEM

Cullinan Therapeutics, Inc.

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

Cullinan Therapeutics, Inc. (Nasdaq: CGIP) is a biopharmaceutical company developing potential first- or best-in-class therapies for autoimmune diseases and cancer. The company leverages core expertise in T cell engagers, a therapeutic modality established in oncology that is now advancing into autoimmune disease… From the company’s description.

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%
$-219.88M
−31.2% year over year
Last 12 mo $-204.69M
-53.80%
−25.4 percentage points
Last 12 mo -63.62%
Cash & financing
$-175.75M
−21.0% year over year
Last 12 mo $-159.25M
$-175.80M
−21.0% year over year
Last 12 mo $-159.25M
—
59.7M
+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: CGIP) is a biopharmaceutical company developing potential first- or best-in-class therapies for autoimmune diseases and cancer. The company leverages core expertise in T cell engagers, a therapeutic modality established in oncology that is now advancing into autoimmune disease treatment. Cullinan's clinical-stage pipeline is built on rigorous scientific approaches and purposeful innovation aimed at delivering new standards of care for patients.

The company's immunology programs include CLN-978, a CD19xCD3 bispecific T cell engager in Phase 1 development for systemic lupus erythematosus, rheumatoid arthritis, and Sjögren's disease through the OUTRACE Program. Cullinan also develops velinotamig, a BCMAxCD3 bispecific T cell engager licensed from Chongqing Genrix Biopharmaceutical for autoimmune diseases outside Greater China, with initial clinical data expected in the fourth quarter of 2026.

In oncology, CLN-049 is a humanized FLT3xCD3 bispecific T cell engager in Phase 1 development for relapsed/refractory acute myeloid leukemia and myelodysplastic syndrome. The FDA granted Fast Track designation to CLN-049 in December 2025. Cullinan also collaborates with Taiho Pharmaceutical on zipalertinib, an orally available EGFR inhibitor targeting EGFR exon 20 insertion mutations in non-small cell lung cancer. In February 2026, Taiho completed a rolling submission of a new drug application seeking accelerated approval of zipalertinib for second-line treatment.

Cullinan's strategy focuses on exploring the broad potential of CLN-978 across autoimmune diseases, advancing CLN-049 for broad AML populations, and unlocking near-term non-dilutive financial benefits from zipalertinib. Under the Taiho collaboration, Cullinan is eligible to receive up to $130 million in regulatory milestone payments and 50% of future pre-tax profits from U.S. zipalertinib sales.

The company operates as a clinical-stage biopharmaceutical enterprise with a focus on T cell engager technology and strategic collaborations. Cullinan maintains a smaller reporting company status and is classified as a non-accelerated filer. The company's website is www.cullinanrx.com.

Company details
Sector
Healthcare
Industry
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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