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Cullinan Therapeutics Provides Corporate Update and Reports First Quarter 2025 Financial Results
Thu 08 May 25, 11:00 AM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -219.87900M | -167.45800M | -169.22300M | 151.32M | -67.48500M |
| Minority interest | 0.00000M | 0.19M | 1.94M | -2.01900M | -1.91500M |
| Net income | -219.87900M | -167.38300M | -153.16200M | 111.21M | -65.04000M |
| Selling general administrative | 54.25M | 52.82M | 42.49M | 40.19M | 29.15M |
| Selling and marketing expenses | - | 0.89M | 42.14M | - | - |
| Gross profit | -0.31100M | -0.30600M | -0.31000M | - | 18.94M |
| Reconciled depreciation | 0.31M | 0.31M | 0.31M | 0.09M | 0.05M |
| Ebit | -241.95900M | -167.45800M | -190.64900M | 144.65M | -68.00700M |
| Ebitda | -241.64800M | -167.15200M | -190.33900M | -408.92200M | -67.95400M |
| Depreciation and amortization | 0.31M | 0.31M | 0.31M | -553.57000M | 0.05M |
| Non operating income net other | - | - | - | 6.67M | 0.47M |
| Operating income | -241.64800M | -196.91900M | -191.08900M | 144.65M | -67.95400M |
| Other operating expenses | 241.65M | 196.92M | 191.09M | 132.14M | 86.90M |
| Interest expense | - | - | - | -562.35000M | 65.45M |
| Tax provision | 0.00000M | 0.12M | -14.12200M | 42.12M | - |
| Interest income | 22.21M | 29.66M | 21.63M | 6.61M | 0.48M |
| Net interest income | 22.21M | 29.66M | 21.63M | 6.61M | 0.48M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | - | 0.12M | -14.12200M | 42.12M | -2.44500M |
| Total revenue | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 18.94M |
| Total operating expenses | 241.65M | 196.61M | 191.09M | 132.14M | 86.90M |
| Cost of revenue | 0.31M | 0.31M | 0.31M | - | - |
| Total other income expense net | 21.77M | 29.46M | 21.87M | 6.67M | 0.47M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -219.87900M | -167.57500M | -155.10100M | 109.19M | -65.57000M |
| Net income applicable to common shares | - | - | - | 111.21M | -65.57000M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 448.37M | 621.82M | 485.10M | 561.12M | 437.19M |
| Intangible assets | - | - | - | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | 8.86M | 12.69M | 13.12M | 7.18M | 6.10M |
| Total liab | 39.64M | 31.50M | 31.20M | 26.09M | 11.81M |
| Total stockholder equity | 408.73M | 590.33M | 453.70M | 535.03M | 422.58M |
| Deferred long term liab | - | - | - | - | 0.07M |
| Other current liab | 36.12M | 27.66M | 24.20M | 18.24M | 8.58M |
| Common stock | 0.00600M | 0.00600M | 0.00400M | 0.00500M | 0.00400M |
| Capital stock | 0.00600M | 0.00600M | 0.00400M | 0.00500M | 0.00400M |
| Retained earnings | -588.11900M | -368.24000M | -200.85700M | -47.69500M | -158.90900M |
| Other liab | - | - | - | - | 0.07M |
| Good will | - | - | - | - | - |
| Other assets | - | - | 0.00000M | 0.46M | 6.32M |
| Cash | 88.33M | 83.00M | 98.43M | 550.12M | 430.86M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 37.74M | 30.65M | 28.14M | 22.50M | 11.75M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | -85.64900M | -80.85400M | -94.84400M | -544.92900M | -430.86300M |
| Short term debt | 0.78M | 1.30M | 1.44M | 1.60M | - |
| Short long term debt | - | - | - | 0.18M | - |
| Short long term debt total | 2.68M | 2.15M | 3.59M | 5.19M | - |
| Other stockholder equity | 995.82M | 958.70M | 654.68M | 585.32M | 582.32M |
| Property plant equipment | - | - | - | 1.17M | 0.08M |
| Total current assets | 386.76M | 414.67M | 480.19M | 474.47M | 296.56M |
| Long term investments | 58.27M | 204.44M | 0.00000M | 80.88M | 140.40M |
| Net tangible assets | - | - | - | 535.03M | 424.97M |
| Short term investments | 289.56M | 315.97M | 368.63M | 311.14M | 230.69M |
| Net receivables | - | 3.00M | 5.40M | - | - |
| Long term debt | - | - | - | - | - |
| Inventory | - | - | -5.40000M | - | - |
| Accounts payable | 0.84M | 1.68M | 2.49M | 2.66M | 3.17M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | 0.40M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 1.02M | -0.13300M | -0.12900M | -2.60100M | -0.83800M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 0.00500M | 0.00400M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | -47.69500M | -158.90900M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 0.30M | 0.37M | 0.46M | 0.46M | 0.15M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 61.62M | 207.16M | 4.91M | 86.64M | 140.62M |
| Capital lease obligations | 2.68M | 2.15M | 3.59M | 5.01M | - |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 180.04M | -136.31400M | 35.81M | -24.98300M | -333.77500M |
| Change to liabilities | - | - | - | 12.31M | -0.27200M |
| Total cashflows from investing activities | 179.99M | -136.31400M | 35.81M | 248.97M | -333.77500M |
| Net borrowings | - | 0.00000M | 1.82M | -2.20000M | 0.17M |
| Total cash from financing activities | 1.09M | 266.19M | 40.75M | -25.93300M | 268.78M |
| Change to operating activities | - | - | - | 7.40M | 1.29M |
| Net income | -219.87900M | -167.57500M | -153.16200M | 109.19M | -67.48500M |
| Change in cash | 5.33M | -15.42900M | -57.71800M | 96.38M | -108.42400M |
| Begin period cash flow | 83.00M | 98.43M | 156.15M | 59.77M | 168.20M |
| End period cash flow | 88.33M | 83.00M | 98.43M | 156.15M | 59.77M |
| Total cash from operating activities | -175.75000M | -145.30300M | -134.27500M | -126.66400M | -43.43300M |
| Issuance of capital stock | 0.00000M | 262.65M | 38.39M | 0.00000M | 267.27M |
| Depreciation | 0.31M | 0.31M | 0.31M | 0.09M | 0.05M |
| Other cashflows from investing activities | - | - | 0.04M | 275.09M | - |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | - | - | - | -23.73300M | 271.47M |
| Other cashflows from financing activities | 1.09M | 3.54M | 0.54M | -23.73902M | 1.52M |
| Change to netincome | - | - | - | 27.99M | 24.38M |
| Capital expenditures | 0.05M | 0.00000M | 0.21M | 1.13M | 1.13M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | -276.24700M | -0.10400M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | 96.38M | -108.42400M |
| Change in working capital | 14.08M | -0.38900M | -0.33900M | 11.18M | -3.54100M |
| Stock based compensation | 36.04M | 37.82M | 30.44M | 27.96M | 24.38M |
| Other non cash items | -6.30600M | -15.46900M | -11.52200M | -275.08500M | 0.07M |
| Free cash flow | -175.79900M | -145.30300M | -134.48300M | -127.79700M | -43.43300M |
Sector: Healthcare Industry: Biotechnology
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CGEM Cullinan Oncology LLC |
-0.1 0.56% | 17.65 | - | 6.74 | 25.86 | 2.11 | 11.55 | -1.4566 |
| NVO Novo Nordisk A/S |
-0.01 0.02% | 47.41 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 | 4.70 |
| NONOF Novo Nordisk A/S |
1.16 2.48% | 48.00 | 41.06 | 31.25 | 2.08 | 33.11 | 2.11 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
6.78 1.45% | 475.20 | 29.67 | 24.33 | 10.38 | 5.83 | 9.33 | 20.00 |
| REGN Regeneron Pharmaceuticals Inc |
5.40 0.87% | 623.43 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 | 19.42 |
Cullinan Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for autoimmune diseases and cancer in the United States. It engages in the development of CLN-978, a CD19xCD3 bispecific T cell engager for autoimmune diseases in Phase 1 clinical trials; Velinotamig, a BCMAxCD3 bispecific T cell in Phase 1 clinical trials in patients with autoimmune diseases; and CLN-049, a FLT3xCD3 bispecific T cell engager, which is in Phase 1 clinical trials in patients with relapsed and refractory acute myeloid leukemia or myelodysplastic syndrome. The company is also developing Zipalertinib, an orally available small-molecule, irreversible epidermal growth factor receptor inhibitor in Phase 2b portion of the REZILIENT1 clinical trial in patients with EGFR ex20ins non-small cell lung cancer. It has a license agreement with Chongqing Genrix Biopharmaceutical Co., Ltd to develop and commercialize velinotamig; a co-development agreement with Taiho Pharmaceutical Co., Ltd to develop zipalertinib; and a collaboration agreement with Adimab, LLC to discover and/or optimize antibodies. The company was formerly known as Cullinan Oncology, Inc. and changed its name to Cullinan Therapeutics, Inc. in April 2024. Cullinan Therapeutics, Inc. was incorporated in 2016 and is headquartered in Cambridge, Massachusetts.
One Main Street, Cambridge, MA, United States, 02142
| Name | Title | Year Born |
|---|---|---|
| Mr. Nadim Ahmed | Pres, CEO & Director | 1968 |
| Mr. Jeffrey Trigilio | CFO & Treasurer | 1985 |
| Dr. Patrick A. Baeuerle Ph.D. | Chief Scientific Officer | 1958 |
| Ms. Jacquelyn L. Sumer J.D. | Chief Legal Officer, Chief Compliance Officer & Corp. Sec. | 1978 |
| Ms. Rose Weldon | VP of Communications | NA |
| Mr. Steve Andre | Chief HR Officer | NA |
| Dr. Corinne Savill Ph.D. | Chief Bus. Officer | 1959 |
| Dr. Jennifer Michaelson Ph.D. | Chief Devel. Officer | 1968 |
| Ms. Kerry Whalen | Sr. Director of Preclinical & Early Devel. | NA |
| Dr. Jeffrey Jones M.B.A., M.D., M.P.H. | Chief Medical Officer | 1971 |
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