Quarterly ResultAug 6, 2026, 07:01 AM
Cullinan Therapeutics Advances Pipeline, $356M Cash into 2029
AI Summary
Cullinan Therapeutics reported its second quarter 2026 financial results and provided an update on its clinical pipeline. The company plans to initiate a potentially registrational Phase 2 study for CLN-049 in relapsed/refractory AML in Q3 2026. Additionally, multi-dose regimen data for CLN-978 in RA and SLE, and for velinotamig in SLE, are expected in Q3 and Q4 2026, respectively, with Phase 2 expansion studies for both programs starting in early 2027. Cullinan ended Q2 2026 with $356 million in cash and investments, providing a runway into 2029, and reported a reduced net loss of $53.7 million for the quarter.
Key Highlights
- CLN-049 potentially registrational Phase 2 study in R/R AML to begin in Q3 2026.
- CLN-978 multi-dose regimen data in RA in Q3 2026 and SLE in Q4 2026.
- Velinotamig multi-dose regimen data in SLE in Q4 2026; Phase 1/2 basket study to begin early 2027.
- Cash and investments totaled $356 million as of June 30, 2026.
- Cash resources provide runway into 2029 under current operating plan.
- Q2 2026 R&D expenses were $44.4 million, down from $61.0 million in Q2 2025.
- Q2 2026 net loss was $53.7 million, compared to $70.1 million in Q2 2025.
- Zipalertinib PDUFA target action date is February 27, 2027.
Price Impact
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