Cullinan raises $280M, pivots to autoimmune with promising CLN-978 data; cash runway into 2028

Cullinan Therapeutics, Inc.

$280M private placement at $19/share; pre-funded warrants $18.999; extends cash runway into 2028.
Strategic pivot to autoimmune diseases; first indication systemic lupus erythematosus (SLE); IND planned Q3 2024.
CLN-978 Phase 1 B-NHL data: 1 complete response, rapid B cell depletion, low-grade CRS, no ICANS.
Name change to Cullinan Therapeutics (Nasdaq: CGEM); reflects expanded focus beyond oncology.
Enrollment in B-NHL study discontinued to focus on autoimmune development.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Cullinan Therapeutics, Inc.: Amended certificate of incorporation to change company name from Cullinan Oncology, Inc. to Cullinan Therapeutics, Inc (effective 2024-04-15).

Change: charter amendment
Effective: 2024-04-15

Exact text from the filing

Effective as of 9:47 A.M., Eastern Time on April 15, 2024, the Company amended its Second Amended and Restated Certificate of Incorporation, as amended (the “ Certificate of Incorporation ”), to effect a change of the Company’s name from “Cullinan Oncology, Inc.” to “Cullinan Therapeutics, Inc.” (the “ Name Change ”).

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Cullinan Therapeutics, Inc.: Amended and restated bylaws solely to reflect the name change (effective 2024-04-15).

Change: bylaw amendment
Effective: 2024-04-15

Exact text from the filing

the Board also approved an amendment and restatement of the Company’s Second Amended and Restated Bylaws solely to reflect the Name Change (as amended and restated, the “ Third Amended and Restated Bylaws ”) effective as of April 15, 2024.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Cullinan Therapeutics, Inc. entered into Stock Purchase Agreement with certain institutional accredited investors valued at $280M gross proceeds for sale of 14,421,070 shares at $19.00/share and 315,790 pre-funded warrants a (effective 2024-04-15).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional accredited investors
Value: $280M gross proceeds for sale of 14,421,070 shares at $19.00/share and 315,790 pre-funded warrants a
Effective: 2024-04-15

Exact text from the filing

On April 15, 2024, Cullinan Therapeutics, Inc. (formerly known as Cullinan Oncology, Inc.) (the “ Company ”) entered into a Stock Purchase Agreement (the “ Purchase Agreement ”) for a private placement (the “ Private Placement ”) with certain institutional accredited investors named therein (each, a “ Purchaser ” and collectively, the “ Purchasers ”).

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261 governance changes filed in the last 30 days. Browse all governance changes →

Cullinan Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-044593

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