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Sep 30, 2023
Cullinan Oncology Q3 2023 Earnings Report
Cullinan Oncology reported third quarter 2023 financial results and provided a corporate update.
Key Takeaways
Cullinan Oncology reported a net loss of $39.2 million for the third quarter of 2023. As of September 30, 2023, the company's cash and investment position was $482 million, expected to provide runway into the second half of 2026.
Cash and investment position of $482 million as of September 30, 2023, expected to provide runway into the second half of 2026.
Enrollment continues in the pivotal Phase 2b portion of the zipalertinib REZILIENT1 study, with completion expected by the end of 2024.
Initial CLN-619 clinical biomarker data support mechanism of action and demonstrate monotherapy clinical activity.
Cullinan expects to report initial data from the combination dose escalation module as well as an update on the monotherapy dose escalation module at a medical conference in the second quarter of 2024.
Forward Guidance
Cullinan Oncology anticipates several milestones in the near term.
Positive Outlook
- Initial data from the CLN-619 combination therapy module in Q2 2024.
- Additional CLN-619 monotherapy data from the Phase 1 dose escalation study in Q2 2024.
- Initial data from CLN-619 disease-specific expansion cohorts in H1 2025.
- Completion of enrollment in the pivotal Phase 2b portion of the zipalertinib REZILIENT1 study by the end of 2024.
- Data presentation for CLN-049 and CLN-418 in the second half of 2024.
Historical Earnings Impact
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