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Sep 30, 2024
Cullinan Oncology Q3 2024 Earnings Report
Cullinan Therapeutics reported third quarter 2024 financial results and provided a corporate update.
Key Takeaways
Cullinan Therapeutics reported a net loss of $40.6 million for the third quarter of 2024. The company's cash, cash equivalents, short- and long-term investments, and interest receivable were $639.0 million as of September 30, 2024, which is expected to provide runway into 2028.
Global Phase 1 study of CLN-978 in systemic lupus erythematosus (SLE) cleared to initiate in U.S. and Australia; initial clinical data expected in Q4 2025.
CLN-619 on-track for initial expansion cohort data in endometrial and cervical cancers in Q2 2025.
Zipalertinib pivotal Phase 2b study enrollment completed ahead of schedule; results expected mid-year 2025.
The company added two rheumatology and immunology experts to its Scientific Advisory Board (SAB): Dr. Ricardo Grieshaber-Bouyer and Dr. Chaim Putterman.
Forward Guidance
Cullinan continues to expect its cash resources to provide runway into 2028 based on its current operating plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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