Cullinan Therapeutics, Inc.
- Open
- 18.05
- Day high
- 18.47
- Day low
- 17.41
- Prev close
- 18.21
- Volume
- 332K
- Mkt cap
- $1.1B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.9
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$117K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Cullinan Therapeutics, Inc. (CGEM) is a Healthcare company listed on NASDAQ. The stock is up 138% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Cullinan Therapeutics, Inc. (CGEM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CGEM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.84 | $-0.75 | +10.3% | — | — |
| Mar 10, 2026 | $-0.81 | $-0.77 | +4.9% | — | — |
| Nov 6, 2025 | $-0.95 | $-0.77 | +18.9% | — | — |
| Aug 7, 2025 | $-0.83 | $-1.07 | -28.9% | — | — |
| May 8, 2025 | $-0.78 | $-0.74 | +5.1% | — | — |
| Feb 27, 2025 | $-0.75 | $-0.73 | +2.7% | — | — |
| Nov 7, 2024 | $-0.78 | $-0.69 | +11.5% | — | — |
| Aug 8, 2024 | $-0.73 | $-0.75 | -2.7% | — | — |
| May 15, 2024 | $-0.90 | $-0.86 | +4.4% | — | — |
| Mar 14, 2024 | $-0.96 | $-0.54 | +43.7% | — | — |
| Aug 10, 2023 | $-0.99 | $-0.82 | +17.2% | — | — |
| May 11, 2023 | $-0.84 | $-1.42 | -69.0% | — | — |
CGEM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | Allen Andrew Rdirector | Grant | 21,781 | $13.55 |
| Jun 18, 2026 | Thistle Marydirector | Grant | 25,319 | $13.55 |
| Jun 18, 2026 | Doyle Mittiedirector | Grant | 21,781 | $13.55 |
| Jun 18, 2026 | Rosenberg Anthonydirector | Grant | 25,319 | $13.55 |
| Jun 18, 2026 | Meek David D.director | Grant | 25,319 | $13.55 |
| Jun 18, 2026 | Webster Stephen Wdirector | Grant | 25,319 | $13.55 |
| May 6, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 7,800 | $14.60 |
| May 6, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 200 | $15.58 |
| May 6, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Option | 4,000 | $4.30 |
| Mar 9, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 8,000 | $15.68 |
| Mar 9, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Option | 4,000 | $4.30 |
| Feb 26, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 1,780 | $14.14 |
| Feb 25, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 3,601 | $14.47 |
| Feb 25, 2026 | SUMER JACQUELYN Lofficer: Chief Legal Officer | Sell | 3,601 | $14.47 |
| Feb 25, 2026 | Michaelson Jenniferofficer: Chief Scientific Officer | Sell | 1,752 | $13.99 |
Source: CGEM SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full CGEM insider & 13F page →Cullinan Therapeutics, Inc. company profile
Overview
Cullinan Oncology, Inc. (NASDAQ:CGEM) is a biopharmaceutical company founded in 2016 and headquartered in Cambridge, Massachusetts. The company went public in January 2021 and focuses on developing targeted oncology and immuno-oncology therapies for cancer patients. As a clinical-stage biotechnology company, Cullinan operates without generating revenue from product sales, instead relying on research and development activities to advance its pipeline of experimental cancer treatments through various stages of clinical trials.
Business
Cullinan Oncology operates in the biotechnology sector, specifically focusing on oncology therapeutics - the development of drugs to treat various forms of cancer. The company's approach centers on both targeted therapy and immuno-oncology, two major paradigms in modern cancer treatment. Targeted therapy involves developing drugs that specifically attack cancer cells by interfering with particular molecules or pathways that are essential for tumor growth and survival. Immuno-oncology, on the other hand, works by harnessing or enhancing the body's immune system to recognize and destroy cancer cells more effectively. The company's lead product candidate is CLN-081, an orally available small molecule currently in Phase I/IIa clinical trials for treating patients with non-small cell lung cancer (NSCLC). This represents the most advanced program in Cullinan's pipeline and is being developed through a collaboration with Cullinan Pearl Corp. Beyond CLN-081, the company maintains a robust preclinical pipeline including: CLN-049, a humanized bispecific antibody for acute myeloid leukemia treatment; CLN-619, a monoclonal antibody for solid tumors; CLN-617, a fusion protein for solid tumors; CLN-978, a T cell engaging antibody for B-cell malignancies; Opal, a bispecific fusion protein targeting the PD-1 axis and 4-IBB/CD137 pathway; and Jade, a novel cell therapy targeting senescence and cancer-related proteins. As a single-focus biotechnology company, Cullinan does not operate multiple business segments with distinct revenue streams, instead concentrating entirely on oncology drug development.
Revenue model
Cullinan Oncology currently operates under a research and development business model typical of early-stage biotechnology companies. The company does not generate revenue from product sales, as none of its drug candidates have received regulatory approval for commercial use. Instead, the company funds its operations through equity financing, including its initial public offering and subsequent funding rounds. The company's future revenue model will likely depend on several potential pathways: direct product sales following regulatory approval of its drug candidates, licensing agreements with larger pharmaceutical companies, milestone payments and royalties from partnership deals, and potential acquisition by a larger pharmaceutical entity seeking to acquire its drug portfolio. Currently, Cullinan has established collaboration agreements, including partnerships with Cullinan Pearl Corp. for CLN-081 development and manufacturing, and with Adimab, LLC for antibody discovery and optimization. These partnerships may provide some funding or cost-sharing arrangements, though specific financial terms are not disclosed. Several factors will significantly impact the company's future profitability margins. Regulatory approval success rates represent the most critical factor, as the biotechnology industry has notoriously high failure rates in clinical trials. Competition from other oncology treatments will affect pricing power and market share potential. Manufacturing and development costs will influence margins, particularly for complex biologics like antibodies and cell therapies. Patent protection duration will determine the exclusivity period for any successful products. Finally, healthcare reimbursement policies and payer willingness to cover new oncology treatments will directly impact achievable pricing and market penetration.
Competitive moat
Cullinan Oncology's competitive moat appears relatively limited at this stage, which is typical for early-stage biotechnology companies. The company's primary potential moat lies in its intellectual property portfolio surrounding its drug candidates, particularly the novel mechanisms of action for compounds like CLN-081 and its bispecific antibody platforms. The company's scientific expertise and specialized knowledge in oncology drug development provides some competitive advantage, particularly in areas like bispecific antibodies and T cell engaging therapies where technical barriers to entry are substantial. The collaboration agreements with established partners like Cullinan Pearl Corp. and Adimab also provide access to specialized capabilities that smaller competitors might lack. However, the moat is inherently fragile and time-limited. The biotechnology industry is characterized by intense competition from both large pharmaceutical companies with substantially greater resources and numerous other biotech companies pursuing similar therapeutic approaches. Major pharmaceutical companies like Roche, Bristol Myers Squibb, and Merck have extensive oncology portfolios and significantly more capital to invest in competing programs. The most significant competitive threats come from larger pharmaceutical companies that can rapidly advance competing programs through clinical development, other biotechnology companies developing similar targeted therapies or immuno-oncology approaches, and the potential for breakthrough therapies from unexpected sources that could render Cullinan's approaches obsolete. Additionally, the company faces the constant risk that its drug candidates may fail in clinical trials, immediately eliminating any competitive advantage they might have provided.
Risks & safety
Cullinan Oncology presents a moderate to high-risk financial profile typical of clinical-stage biotechnology companies, with significant cash burn but reasonable near-term liquidity. • Cash burn and solvency: The company burned approximately $145 million in operating cash flow during 2024, with quarterly burn rates of $34-43 million. With $77 million in cash and short-term investments as of Q1 2025, the company has roughly 4-6 quarters of runway at current burn rates. • Debt levels: Minimal debt with debt-to-equity ratio of only 0.33%, indicating very low financial leverage and minimal solvency risk from debt obligations. • Valuation metrics: Trading at 0.81x book value and negative earnings multiples due to losses. Current ratio of 11.6x indicates strong short-term liquidity position. • Other considerations: The company will likely need additional funding within the next 12-18 months, either through equity raises, partnerships, or other financing arrangements. Clinical trial outcomes represent the primary risk factor that could dramatically impact valuation.
Recent development
Based on the available financial data, Cullinan Oncology has maintained consistent focus on advancing its oncology pipeline over recent years. The company's primary strategic development has been the continued advancement of CLN-081 through Phase I/IIa clinical trials for non-small cell lung cancer, representing the most mature asset in its portfolio. The company has maintained its partnership strategy, particularly through its collaboration with Cullinan Pearl Corp. for CLN-081 development and manufacturing, which provides access to specialized capabilities while sharing development costs and risks. The ongoing partnership with Adimab for antibody discovery and optimization continues to support the company's bispecific antibody programs. From a financial perspective, the company has managed its cash position through the typical biotech approach of periodic equity financing, though specific recent fundraising activities are not detailed in the available financial statements. The company's burn rate has remained relatively stable, indicating disciplined capital allocation focused on advancing its priority programs rather than expanding into new therapeutic areas. The preclinical pipeline has been maintained across multiple modalities including bispecific antibodies, monoclonal antibodies, fusion proteins, and cell therapy approaches, suggesting a strategy of maintaining optionality across different technological platforms while concentrating resources on the most promising candidates.
CGEM company profile · for informational purposes only — not investment advice.
Track CGEM with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free