Quarterly ResultAug 6, 2026, 07:26 AM
Cullinan Therapeutics Q2 Net Loss $53.7M; Cash $78.6M
AI Summary
Cullinan Therapeutics reported a net loss of $53.7 million for the second quarter of 2026, an improvement from $70.1 million in the same period last year. For the six months ended June 30, 2026, the net loss was $103.4 million. The company maintains $334.5 million in cash, cash equivalents, and short-term investments, which is expected to fund operations for the next twelve months. Cullinan also has an active At-the-Market equity offering program for up to $200 million, though no sales have been made under it as of June 30, 2026.
Key Highlights
- Q2 2026 net loss was $53.7 million, an improvement from $70.1 million in Q2 2025.
- Six-month 2026 net loss was $103.4 million, down from $118.6 million in 2025.
- Cash and cash equivalents totaled $78.6 million as of June 30, 2026.
- Total current assets were $342.0 million as of June 30, 2026.
- Research and development expenses decreased to $44.4 million in Q2 2026 from $61.0 million in Q2 2025.
- Net cash used in operating activities for six months was $84.3 million, an improvement from $100.8 million.
- Company expects $334.5 million in liquidity to fund operations for the next 12 months.
- Established $200 million At-the-Market equity offering program in April 2026.
Price Impact
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