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Sep 30, 2022

Cullinan Oncology Q3 2022 Earnings Report

Cullinan Oncology reported financial results for Q3 2022 and provided a corporate update.

Key Takeaways

Cullinan Oncology reported cash and investments of approximately $607 million as of September 30, 2022. The company is focused on advancing its pipeline and strategically deploying capital for investment, acceleration, and expansion.

Initiated pivotal study for zipalertinib (CLN-081/TAS6417).

Increased ownership in MICA subsidiary, which holds worldwide rights to CLN-619, from 54% to 92%.

Continued enrollment in CLN-049 and CLN-619 clinical studies with initial clinical data updates on track for mid-2023.

Cash and investments of approximately $607 million as of September 30, 2022.

EPS
-$0.54
Previous year: -$0.4
+35.0%
Cash and Equivalents
$607M
Previous year: $88.1M
+588.7%
Free Cash Flow
-$54.6M
Previous year: -$10.6M
+417.5%
Total Assets
$617M
Previous year: $453M
+36.1%

Cullinan Oncology

Cullinan Oncology

Forward Guidance

Cullinan Oncology remains on track to file IND applications for CLN-617 and CLN-978 in the first half of 2023.