Overview

* Cullinan reports Q2 net loss of $70.1 mln, up from $42.0 mln last year

* Operating expenses rise to $75.8 mln, driven by R&D costs

* Company maintains $510.9 mln cash position, runway into 2028

Outlook

* Cullinan expects NDA submission for zipalertinib by end of 2025

* Company plans to complete REZILIENT3 enrollment in 1H 2026

* Cullinan to share CLN-049 clinical data in Q4 2025

* Company's cash runway expected to last into 2028

Result Drivers

* CLN-978 PROGRAM - Active enrollment in Phase 1 studies for SLE, RA, and Sjögren's disease

* R&D - E

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net -$70.06

Income mln

Q2 Cash $510.90

& mln

Investme

nts

Q2 $75.80

Operatin mln

g

Expenses

Q2 -$75.80

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy."

* Wall Street's median 12-month price target for Cullinan Therapeutics Inc ( CGEM ) is $30.00, about 73.7% above its August 6 closing price of $7.88

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)