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Sep 30, 2021
Cullinan Oncology Q3 2021 Earnings Report
Announced financial results for the third quarter ended September 30, 2021.
Key Takeaways
Cullinan Oncology reported a net loss of $18.3 million and held $445.4 million in cash, cash equivalents, and investments as of September 30, 2021. The company is advancing its pipeline, with clinical updates for Cullinan Pearl expected in Q4 2021 and plans to advance Cullinan MICA and Cullinan Florentine into clinical trials by year-end.
Cullinan Pearl clinical update planned for Q4 2021.
Cullinan MICA and Cullinan Florentine programs to advance into clinical trials by year end 2021.
Cash and investments of $445.4 million as of September 30, 2021.
Net loss for the quarter was $18.3 million.
Cullinan Oncology
Cullinan Oncology
Forward Guidance
This press release contains forward-looking statements regarding Cullinan’s beliefs and expectations regarding our preclinical and clinical development plans, clinical trial designs, clinical and therapeutic potential, and strategy of our product candidates.
Positive Outlook
- Timing and success of planned preclinical and clinical development of programs, including for CLN-081, CLN-619, and CLN-049.
- Timing and success of planned regulatory submissions.
- Expectations and beliefs around the safety and activity of CLN-081 in Phase 1/2a trial.
- Ability to evaluate strategic opportunities to accelerate development timelines.
- Presentation of additional data at upcoming scientific conferences in 2021.
Challenges Ahead
- Uncertainty regarding the timing and results of regulatory submissions.
- Success of clinical trials and preclinical studies.
- Risks related to ability to protect and maintain intellectual property position.
- Risks related to manufacturing, supply, and distribution of product candidates.
- Risk that results of preclinical studies or clinical studies will not be predictive of future results.