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Last update at 2025-05-23T16:46:00Z
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Cullinan Therapeutics Provides Corporate Update and Reports First Quarter 2025 Financial Results
Thu 08 May 25, 11:00 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 151.32M | -67.48500M | -59.45800M | -21.65400M | -14.18900M |
| Minority interest | -2.01900M | -1.91500M | 1.30M | 0.86M | 0.00100M |
| Net income | 111.21M | -65.04000M | -50.84900M | -20.03700M | -14.18900M |
| Selling general administrative | 40.19M | 29.15M | 17.12M | 5.48M | 5.00M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | - | 18.94M | - | - | - |
| Reconciled depreciation | 0.09M | 0.05M | 0.06M | 0.07M | 0.04M |
| Ebit | 144.65M | -68.00700M | -60.39700M | -22.27000M | -14.58600M |
| Ebitda | -408.92200M | -67.95400M | -60.33500M | -22.20000M | -14.54300M |
| Depreciation and amortization | -553.57000M | 0.05M | 0.06M | 0.07M | 0.04M |
| Non operating income net other | 6.67M | 0.47M | - | - | - |
| Operating income | 144.65M | -67.95400M | -60.33500M | -22.27000M | -14.58600M |
| Other operating expenses | 132.14M | 86.90M | 60.34M | 22.27M | 14.59M |
| Interest expense | -562.35000M | 65.45M | 0.89M | 0.00000M | 0.00000M |
| Tax provision | 42.12M | - | - | - | - |
| Interest income | 6.61M | 0.48M | 0.89M | 0.62M | 0.40M |
| Net interest income | 6.61M | 0.48M | 0.89M | 0.62M | 0.40M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 42.12M | -2.44500M | -8.60900M | -1.61700M | 0.40M |
| Total revenue | 0.00000M | 18.94M | 0.00000M | 0.00000M | 0.00000M |
| Total operating expenses | 132.14M | 86.90M | 60.34M | 22.27M | 14.59M |
| Cost of revenue | - | - | - | - | - |
| Total other income expense net | 6.67M | 0.47M | 0.88M | 0.62M | 0.40M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 109.19M | -65.57000M | -59.45800M | -21.65400M | -14.18900M |
| Net income applicable to common shares | 111.21M | -65.57000M | -51.79900M | -20.65700M | -14.18900M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 485.10M | 561.12M | 437.19M | 214.71M | 100.46M |
| Intangible assets | - | - | - | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | 13.12M | 7.18M | 6.10M | 2.07M | 1.46M |
| Total liab | 31.20M | 26.09M | 11.81M | 291.05M | 140.37M |
| Total stockholder equity | 453.70M | 535.03M | 422.58M | -77.64200M | -40.77300M |
| Deferred long term liab | - | - | 0.07M | 2.20M | - |
| Other current liab | 24.20M | 18.24M | 8.58M | 4.64M | 1.59M |
| Common stock | 0.00400M | 0.00500M | 0.00400M | 0.00100M | 0.00100M |
| Capital stock | 0.00400M | 0.00500M | 0.00400M | 0.00100M | 0.00100M |
| Retained earnings | -200.85700M | -47.69500M | -158.90900M | -93.33900M | -41.54000M |
| Other liab | - | - | 0.07M | 0.07M | 0.07M |
| Good will | - | - | - | - | - |
| Other assets | 0.00000M | 0.46M | 6.32M | 2.30M | 0.19M |
| Cash | 98.43M | 550.12M | 430.86M | 168.20M | 63.25M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 28.14M | 22.50M | 11.75M | 14.32M | 2.52M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | -94.84400M | -544.92900M | -430.86300M | -168.19800M | -63.25000M |
| Short term debt | 1.44M | 1.60M | - | - | - |
| Short long term debt | - | 0.18M | - | - | - |
| Short long term debt total | 3.59M | 5.19M | - | - | - |
| Other stockholder equity | 654.68M | 585.32M | 582.32M | 15.70M | 0.77M |
| Property plant equipment | - | 1.17M | 0.08M | 0.13M | 0.18M |
| Total current assets | 480.19M | 474.47M | 296.56M | 212.28M | 100.09M |
| Long term investments | 0.00000M | 80.88M | 140.40M | - | - |
| Net tangible assets | - | 535.03M | 424.97M | -77.64200M | -40.77300M |
| Short term investments | 368.63M | 311.14M | 230.69M | 42.01M | 35.38M |
| Net receivables | 5.40M | - | - | - | - |
| Long term debt | - | - | - | - | - |
| Inventory | -5.40000M | - | - | - | - |
| Accounts payable | 2.49M | 2.66M | 3.17M | 9.68M | 0.93M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | 0.40M | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -0.12900M | -2.60100M | -0.83800M | -0.00200M | -0.00400M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | 0.00500M | 0.00400M | 0.00100M | 0.00100M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | -47.69500M | -158.90900M | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 0.46M | 0.46M | 0.15M | 2.30M | 0.19M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 4.91M | 86.64M | 140.62M | 2.43M | 0.37M |
| Capital lease obligations | 3.59M | 5.01M | - | - | - |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -24.98300M | -333.77500M | -6.86000M | -35.40000M | -0.26100M |
| Change to liabilities | 12.31M | -0.27200M | 5.58M | 0.64M | 0.23M |
| Total cashflows from investing activities | 248.97M | -333.77500M | -5.42000M | -35.40000M | -0.26100M |
| Net borrowings | -2.20000M | 0.17M | 0.17M | 0.17M | - |
| Total cash from financing activities | -25.93300M | 268.78M | 140.14M | 85.72M | -0.02900M |
| Change to operating activities | 7.40M | 1.29M | 1.27M | -0.50400M | 0.12M |
| Net income | 109.19M | -67.48500M | -59.45800M | -21.65400M | -14.18900M |
| Change in cash | 96.38M | -108.42400M | 104.95M | 29.42M | -13.83900M |
| Begin period cash flow | 59.77M | 168.20M | 63.25M | 33.83M | 47.67M |
| End period cash flow | 156.15M | 59.77M | 168.20M | 63.25M | 33.83M |
| Total cash from operating activities | -126.66400M | -43.43300M | -29.77200M | -20.89700M | -13.54900M |
| Issuance of capital stock | 0.00000M | 267.27M | 139.09M | 84.25M | 0.00100M |
| Depreciation | 0.09M | 0.05M | 0.06M | 0.07M | 0.04M |
| Other cashflows from investing activities | 275.09M | - | 1.45M | 1.45M | 1.45M |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | - | - |
| Sale purchase of stock | -23.73300M | 271.47M | -0.21300M | -0.37800M | -0.02100M |
| Other cashflows from financing activities | -23.73902M | 1.52M | 140.35M | 86.09M | -0.00900M |
| Change to netincome | 27.99M | 24.38M | 15.11M | -0.44500M | 0.25M |
| Capital expenditures | 1.13M | 1.13M | 0.01000M | 0.02M | 0.26M |
| 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 | 11.18M | -3.54100M | 6.85M | 0.14M | 0.34M |
| Stock based compensation | 27.96M | 24.38M | 14.91M | 0.02M | - |
| Other non cash items | -275.08500M | 0.07M | 7.63M | 0.54M | 0.25M |
| Free cash flow | -127.79700M | -43.43300M | -29.78200M | -20.91700M | -13.81000M |
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 |
-0.14 1.77% | 7.75 | - | 6.30 | 26.88 | 1.21 | 11.55 | -1.4566 |
| NVO Novo Nordisk A/S |
-1.37 2.01% | 66.80 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 | 4.70 |
| NONOF Novo Nordisk A/S |
- -% | 66.23 | 41.06 | 31.25 | 2.08 | 33.11 | 2.11 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
0.97 0.22% | 435.00 | 29.67 | 24.33 | 10.38 | 5.83 | 9.33 | 20.00 |
| REGN Regeneron Pharmaceuticals Inc |
-8.895 1.49% | 587.96 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 | 19.42 |
Cullinan Therapeutics, Inc., a biopharmaceutical company, focuses on developing oncology therapies for cancer patients in the United States. The company's lead program comprises CLN-619, a monoclonal antibody that is in Phase I clinical trial for the treatment of solid tumors. Its development portfolio also includes CLN-049, a humanized bispecific antibody that is in Phase I clinical trial for the treatment of acute myeloid leukemia or myelodysplastic syndrome; CLN-418, a human bispecific immune activator that is in Phase 1 clinical trial for the treatment of multiple solid tumors; and Zipalertinib, a bioavailable small-molecule for treating patients with non-small cell lung cancer. In addition, the company's development products comprise CLN-617, a fusion protein for the treatment of solid tumors; and CLN-978, a T cell engaging antibody for the treatment relapsed/refractory B-cell non-Hodgkin lymphoma. It has license and collaboration agreement with Adimab, LLC to discover and/or optimize antibodies; Harbour BioMed US Inc. for the development, manufacturing, and commercialization of CLN-418; and co-development agreement with Taiho Pharmaceutical Co., Ltd to develop Zipalertinib. Cullinan Therapeutics, Inc. 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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