Cullinan Therapeutics Q2 net loss widens to $70.1 mln on higher R&D costs
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 - Expenses were $61.0 million for the second quarter of 2025, compared to $36.3 million for the same period in 2024
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income | -$70.06 mln | ||
Q2 Cash & Investments | $510.90 mln | ||
Q2 Operating Expenses | $75.80 mln | ||
Q2 Operating Income | -$75.80 mln |
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 is $30.00, about 73.7% above its August 6 closing price of $7.88
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