Cullinan Oncology reports Q4 net loss of $27.1M; licenses CLN-418; cash runway into 2026

Cullinan Therapeutics, Inc.

Cash and investments $550.1M as of Dec 31, 2022; cash runway expected into 2026.
Licensed U.S. rights to CLN-418 from Harbour Biomed for $25M upfront, up to $563M milestones plus royalties.
Q4 net loss before noncontrolling interest $27.1M; full-year net income $109.2M due to gain on sale of Cullinan Pearl.
IND clearance for CLN-978 (CD19xCD3) in Jan 2023; IND filed for CLN-617 (IL-12/IL-2) in Feb 2023.
Initial clinical data for CLN-049 and CLN-619 expected mid-2023; pivotal study for zipalertinib initiated Q4 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cullinan Therapeutics, Inc. reported fourth quarter and full year ended December 31, 2022 results: net income 27.1 million.

Period: fourth quarter and full year ended December 31, 2022
Net income: 27.1 million
Result: reported results

Exact text from the filing

Net loss (before items attributable to noncontrolling interest) for the fourth quarter of 2022 was $27.1 million, compared with net loss of $24.9 million for the third quarter of 2022.

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Cullinan Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-065289

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