Earnings ·
Cullinan Therapeutics reported financial results for the second quarter ended June 30, 2026, posting a net loss of…
CGEMCullinan Therapeutics, Inc.
Cullinan Therapeutics reported financial results for the second quarter ended June 30, 2026, posting a net loss of $53.7 million compared to $70.1 million in the prior year period. Research and development expenses decreased to $44.4 million from $61.0 million, while general and administrative expenses fell to $12.8 million from $14.8 million. The company held cash and investments of $356 million as of June 30, 2026, providing a runway into 2029 under its current operating plan. Clinically, the company plans to share multi-dose regimen data for CLN-978 in rheumatoid arthritis (Q3 2026) and systemic lupus erythematosus (Q4 2026), with Phase 2 expansion studies beginning early 2027. Velinotamig multi-dose data is expected in Q4 2026, followed by a Phase 1/2 basket study in autoimmune cytopenias starting early 2027. Additionally, Cullinan will initiate a potentially registrational Phase 2 study for CLN-049 in relapsed or refractory acute myeloid leukemia in Q3 2026 following a positive FDA End-of-Phase 1 meeting. The company operates as a clinical-stage biopharmaceutical firm developing T cell engagers for autoimmune diseases and cancer.