Cullinan Therapeutics, Inc.
CGEMNasdaqHealthcare · Biological Products, (No Diagnostic Substances) · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $18.9M | $0 |
| Operating income | −$241.6M | −$196.9M | −$191.1M | $144.6M | −$68.0M | −$60.3M |
| Net income | −$219.9M | −$167.4M | −$153.2M | $111.2M | −$65.6M | −$51.8M |
| Total assets | $448.4M | $621.8M | $484.2M | $561.1M | $437.2M | $214.7M |
| Total liabilities | $39.6M | $31.5M | $30.3M | $26.1M | $11.8M | $14.4M |
| Equity | $408.7M | $590.3M | $453.7M | $535.0M | $425.0M | $199.0M |
| EPS (diluted) | — | — | $-3.69 | $2.38 | $-1.52 | — |
| Shares out. | 58.5M | 43.1M | 39.3M | 44.6M | 44.3M | 29.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −53.8%
- Return on assets
- −49.0%
- Return on capital (ROCE)
- −58.8%
- Liabilities / assets
- 8.8%
- Debt / equity
- 0.10×
- Book value / share
- $6.99
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 8.03safe
- Accruals / assets
- −9.8%clean
- Piotroski F-Score
- 1/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 1 warning● 3 good- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Clinical trials
ClinicalTrials.gov · ongoing · next readout first- Phase 1/2Active Not Recruitingreadout ~2026-01-31A Phase 1/2 Trial of CLN-081 in Patients With Non-Small Cell Lung Cancer
- Phase 1Active Not Recruitingreadout ~2026-03A Study of CLN-619 Alone and in Combination With Pembrolizumab in Advanced Solid Tumors
- Phase 1Active Not Recruitingreadout ~2026-09A Study of CLN-619 (Anti-MICA/MICB Antibody) in Patients With Relapsed and Refractory Multiple Myeloma
- Phase 1Active Not Recruitingreadout ~2026-11A Study of CLN-978 in Patients With Relapsed or Refractory (R/R) B Cell Non-Hodgkin Lymphoma (B-NHL)
- Phase 1Recruitingreadout ~2026-12A Study of CLN-978, a Subcutaneously Administered CD19-directed T Cell Engager, in Subjects With Systemic Lupus Erythematosus
- Phase 1Recruitingreadout ~2027-01CLN-049 in Patients With Relapsed/Refractory Acute Myeloid Leukemia (AML) or Myelodysplastic Syndrome (MDS)
- Phase 1Recruitingreadout ~2027-12-30A Study of CLN-978, a Subcutaneously Administered CD19-directed T Cell Engager, in Subjects With Rheumatoid Arthritis
- Phase 1Recruitingreadout ~2028-03-15A Study of CLN-978, a Subcutaneously Administered CD19-directed T Cell Engager, in Subjects With Sjogren's Disease
Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Michaelson JenniferOfficer — Chief Scientific Officer | May 5, 2026 | Option exercise | 4,000 | $4.30 |
| Michaelson JenniferOfficer — Chief Scientific Officer | Mar 5, 2026 | Option exercise | 4,000 | $4.30 |
| Michaelson JenniferOfficer — Chief Scientific Officer | Feb 25, 2026 | Sell | 1,780 | $14.14 |
| Michaelson JenniferOfficer — Chief Scientific Officer | Feb 23, 2026 | Sell | 1,752 | $13.99 |
| Ahmed NadimOfficer — President and CEO | Feb 24, 2026 | Sell | 13,515 | $14.47 |
| Jones Jeffrey AlanOfficer — Chief Medical Officer | Feb 24, 2026 | Sell | 4,582 | $14.47 |
| Sumer Jacquelyn LOfficer — Chief Legal Officer | Feb 24, 2026 | Sell | 3,601 | $14.47 |
| Jones Jeffrey AlanOfficer — Chief Medical Officer | Feb 20, 2026 | Sell | 4,982 | $13.62 |
| Michaelson JenniferOfficer — Chief Scientific Officer | Feb 20, 2026 | Sell | 3,742 | $13.62 |
| Sumer Jacquelyn LOfficer — Chief Legal Officer | Feb 20, 2026 | Sell | 3,742 | $13.62 |
| Ahmed NadimOfficer — President and CEO | Feb 20, 2026 | Sell | 16,381 | $13.62 |
| Fenton Mary KayOfficer — Chief Financial Officer | Feb 20, 2026 | Sell | 4,398 | $13.62 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 8.7M | 8.2 | -1.4% |
| Apr 30, 2026 | 8.8M | 15.3 | +8.4% |
| Apr 15, 2026 | 8.1M | 10.6 | -3.3% |
| Mar 31, 2026 | 8.4M | 9.3 | +0.4% |
| Mar 13, 2026 | 8.4M | 10.6 | +3.5% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Regulation FD disclosure · Other material eventMay 18, 2026
- Results of operationsMay 7, 2026
- Results of operationsMar 10, 2026
- Results of operations · Regulation FD disclosure · Other material eventJan 8, 2026
- Regulation FD disclosure · Other material eventDec 8, 2025
- Terminated a material agreementNov 21, 2025
- Results of operations · Other material eventNov 6, 2025
- Regulation FD disclosure · Other material eventNov 3, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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