CGEM on Nasdaq

Cullinan Oncology

Biopharmaceutical company.¹

Price unavailable

Last updated Oct 18, 2026.

Overview

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TickerCGEM on Nasdaq¹
IndustryBiological Products, (No Diagnostic Substances)¹
HeadquartersCambridge¹
Websitecullinanoncology.com
Incorporated inDE³
Business addressOne Main Street, Suite 1350, Cambridge, Ma 02142³
Filer categoryNon-accelerated filer, Smaller reporting company³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

-100.0%Revenue growth, 2022⁴

20.8%Return on equity⁵

-$127.8MFree cash flow⁵

Financial statements

Revenue⁶⁴$0 in 2022

Operating income⁶⁴⁵$144.6M in 2022

Net income⁶⁴⁵$111.2M in 2022

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁹

Period ending	2025-12-31	2024-12-31
Research and development	$187.4M	$142.9M
General and administrative expense	$54.2M	$54.0M
Total operating expenses	$241.6M	$196.9M
Loss from operations	-$241.6M	-$196.9M
Interest income	$22.2M	$29.7M
Other income (expense), net	-$443.0K	-$199.0K
Net loss before income taxes	-$219.9M	-$167.5M
Effective tax rate	$0	$117.0K
Net loss	-$219.9M	-$167.6M
Net loss attributable to noncontrolling interests	$0	-$192.0K
Net loss attributable to Cullinan	-$219.9M	-$167.4M
Unrealized gain (loss) on investments	$1.2M	-$4.0K
Comprehensive loss	-$218.7M	-$167.6M
Comprehensive loss attributable to noncontrolling interests	$0	-$192.0K
Comprehensive loss attributable to Cullinan	-$218.7M	-$167.4M

Total assets⁶⁴⁵$561.1M in 2022+161% since 2020

Total liabilities⁶⁴⁵$26.1M in 2022+81% since 2020

Shareholders’ equity⁶⁴⁵$535.0M in 2022+452% since 2019

Cash⁶⁴⁵$156.2M in 2022−7% since 2020

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁹

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$88.3M	$83.0M
Short-term investments	$289.6M	$316.0M
Prepaid expenses and other current assets	$8.9M	$15.7M
Total current assets	$386.8M	$414.7M
Property and equipment, net	$421.0K	$683.0K
Operating lease right-of-use assets	$2.6M	$1.7M
Other assets	$297.0K	$366.0K
Long-term investments	$58.3M	$204.4M
Total assets	$448.4M	$621.8M
Accounts payable	$841.0K	$1.7M
Accrued expenses and other current liabilities	$36.1M	$27.7M
Operating lease liabilities, current	$780.0K	$1.3M
Total current liabilities	$37.7M	$30.6M
Operating lease liabilities, net of current portion	$1.9M	$849.0K
Total liabilities	$39.6M	$31.5M
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of December 31, 2025 and 2024; 555,935 and 647,500 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	$0	$0
Common stock, $0.0001 par value, 150,000,000 shares authorized as of December 31, 2025 and 2024; 60,244,136 and 58,510,610 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	$6.0K	$6.0K
Additional paid-in capital	$995.8M	$958.7M
Accumulated other comprehensive gain (loss)	$1.0M	-$133.0K
Accumulated deficit	-$588.1M	-$368.2M
Total Cullinan stockholders' equity	$408.7M	$590.3M
Noncontrolling interests	$0	$0
Total stockholders' equity	$408.7M	$590.3M	$453.9M
Total liabilities and stockholders' equity	$448.4M	$621.8M
Preferred stock, par value	$0.00	$0.00
Preferred Stock, Shares Authorized	10.0M shares	10.0M shares
Preferred Stock, Shares Issued	555.9K shares	647.5K shares
Preferred Stock, Shares Outstanding	555.9K shares	647.5K shares
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150.0M shares	150.0M shares
Common stock, shares issued	60.2M shares	58.5M shares
Common stock, shares outstanding	60.2M shares	58.5M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$88.3M	$83.0M
Short-term investments	$289.6M	$316.0M
Prepaid expenses and other current assets	$8.9M	$15.7M
Total current assets	$386.8M	$414.7M
Property and equipment, net	$421.0K	$683.0K
Operating lease right-of-use assets	$2.6M	$1.7M
Other assets	$297.0K	$366.0K
Long-term investments	$58.3M	$204.4M
Total assets	$448.4M	$621.8M
Accounts payable	$841.0K	$1.7M
Accrued expenses and other current liabilities	$36.1M	$27.7M
Operating lease liabilities, current	$780.0K	$1.3M
Total current liabilities	$37.7M	$30.6M
Operating lease liabilities, net of current portion	$1.9M	$849.0K
Total liabilities	$39.6M	$31.5M
Preferred stock, $0.0001 par value, 10,000,000 shares authorized as of December 31, 2025 and 2024; 555,935 and 647,500 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	$0	$0
Common stock, $0.0001 par value, 150,000,000 shares authorized as of December 31, 2025 and 2024; 60,244,136 and 58,510,610 shares issued and outstanding as of December 31, 2025 and 2024, respectively.	$6.0K	$6.0K
Additional paid-in capital	$995.8M	$958.7M
Accumulated other comprehensive gain (loss)	$1.0M	-$133.0K
Accumulated deficit	-$588.1M	-$368.2M
Total Cullinan stockholders' equity	$408.7M	$590.3M
Noncontrolling interests	$0	$0
Total stockholders' equity	$408.7M	$590.3M	$453.9M
Total liabilities and stockholders' equity	$448.4M	$621.8M
Preferred stock, par value	$0.00	$0.00
Preferred Stock, Shares Authorized	10.0M shares	10.0M shares
Preferred Stock, Shares Issued	555.9K shares	647.5K shares
Preferred Stock, Shares Outstanding	555.9K shares	647.5K shares
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	150.0M shares	150.0M shares
Common stock, shares issued	60.2M shares	58.5M shares
Common stock, shares outstanding	60.2M shares	58.5M shares

Cash from operations⁶⁴⁵-$126.7M in 2022+325% since 2020

Capital spending⁶⁴⁵$1.1M in 2022+11230% since 2020

Free cash flow⁶⁴⁵-$127.8M in 2022+329% since 2020

Every line of the cash flow as filed: the last 2 fiscal years, latest first.⁹

Period ending	2025-12-31	2024-12-31
Net loss	-$219.9M	-$167.6M
Equity-based compensation expense	$36.0M	$37.8M
Accretion on marketable securities	-$6.3M	-$15.5M
Depreciation and amortization	$311.0K	$306.0K
Prepaid expenses and other current assets	$6.9M	-$2.5M
Accounts payable	-$839.0K	-$812.0K
Accrued expenses and other liabilities	$8.0M	$2.9M
Net cash used in operating activities	-$175.8M	-$145.3M
Maturities of marketable securities	$416.6M	$584.8M
Purchase of marketable securities	-$236.5M	-$721.1M
Purchase of property and equipment	-$49.0K	$0
Net cash provided by (used in) investing activities	$180.0M	-$136.3M
Issuance of common stock under equity-based compensation plans	$1.1M	$8.0M
Issuance of common stock and pre-funded warrants, net of issuance costs	$0	$262.7M
Acquisition of noncontrolling interests	$0	-$4.4M
Net cash provided by financing activities	$1.1M	$266.2M
Net decrease in cash and cash equivalents	$5.3M	-$15.4M
Cash refunded for income taxes	-$3.0M	-$2.3M

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Leadership

Who has led Cullinan Oncology, and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

2025

Chief executive officerOwen Hughes Jan 7, 2021 to Jan 14, 2021¹⁰
Chief executive officerNadim Ahmed Oct 20, 2021 to now¹¹
PresidentOwen Hughes Jan 7, 2021 to Jan 14, 2021¹⁰
PresidentNadim Ahmed Oct 20, 2021 to now¹¹
Chief financial officerMary Kay Fenton Apr 30, 2024 to now¹²
Chief financial officerJeffrey Trigilio Jan 7, 2021 to Feb 23, 2024¹³

Board members and other officers (18)

Interim PAO and PFONate Nguyen Apr 2, 2024 to Apr 2, 2024¹⁴
Acting Chief Business OfficerCorrine Savill Jan 7, 2021 to now¹⁵
OfficerJennifer Michaelson Jan 7, 2021 to now¹⁶
Chief Medical OfficerJon Marc Wigginton Jan 7, 2021 to Jan 11, 2021¹⁷
OfficerLeigh Zawel Jan 7, 2021 to Feb 15, 2022¹⁸
OfficerPatrick Baeuerle Jan 7, 2021 to Feb 21, 2023¹⁹
Board memberAndrew R. Allen Aug 8, 2025 to now²⁰
Board memberMittie Doyle Aug 8, 2025 to now²¹
Board memberMary Thistle Aug 9, 2024 to now²²
Board memberAnne-Marie Martin Mar 2, 2022 to now²³
Board memberDavid P. Ryan Nov 2, 2022 to now²⁴
Board memberAnsbert Gadicke Jan 7, 2021 to Jun 23, 2022²⁵
Board memberAnthony Rosenberg Jan 7, 2021 to now²⁶
Board memberMorana Jovan-Embiricos Jan 7, 2021 to Mar 25, 2022²⁷
Board memberOwen Hughes Jan 7, 2021 to Jan 14, 2021¹⁰
Board memberThomas Ebeling Jan 7, 2021 to Jun 11, 2024²⁸
Board memberNadim Ahmed Oct 20, 2021 to now¹¹
General counselJacquelyn L. Sumer Aug 16, 2022 to now²⁹

Former names

Cullinan Oncology, Inc.Feb 26, 2021 to Apr 2, 2024³
Cullinan Management, Inc.Dec 1, 2020 to Feb 22, 2021³
Cullinan Oncology, LLCNov 2, 2020 to Jan 6, 2021³

Timeline

Oct 20, 2021New chief executive Nadim Ahmed becomes CEO¹¹
Jan 7, 2021New chief executive Owen Hughes becomes CEO¹⁰

Filings

370 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 58 major events, 197 insider forms, 43 large holders, 52 other. The latest 20:

Oct 2, 20268-K EDGAR
Sep 24, 20268-K EDGAR
Sep 14, 20268-K EDGAR
Sep 10, 20264 EDGAR
Sep 8, 2026144 EDGAR
Aug 14, 20264 EDGAR
Aug 14, 2026SCHEDULE 13G/A EDGAR
Aug 14, 2026SCHEDULE 13G EDGAR
Aug 13, 2026144 EDGAR
Aug 13, 20268-K EDGAR
Aug 7, 2026SCHEDULE 13G EDGAR
Aug 6, 202610-Q EDGAR
Aug 6, 20268-K EDGAR
Jul 7, 20264 EDGAR
Jul 6, 2026144 EDGAR
Jul 2, 20264 EDGAR
Jul 2, 20264 EDGAR
Jun 18, 20264 EDGAR
Jun 18, 20264 EDGAR
Jun 18, 20264 EDGAR

The 370 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 43 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Mpm Bioimpact LLC	9,731,341	$177.2M	10.8%	+2,083,073
Lynx1 Capital Management LP	8,963,500	$163.2M	18.9%	No change
Bvf Inc/il	5,750,683	$104.7M	2.7%	No change
BlackRock, Inc.	5,232,766	$95.3M	0.0%	+782,800
State Street Corp	3,668,627	$66.8M	0.0%	+1,124,512
Kynam Capital Management, LP	3,114,132	$56.7M	3.1%	No change
Vanguard Capital Management LLC	2,614,066	$47.6M	0.0%	+131,032
Rtw Investments, LP	2,364,347	$43.1M	0.4%	+658,387
Siren, L.L.C.	1,893,410	$34.5M	0.7%	+700,000
Geode Capital Management, LLC	1,547,309	$28.2M	0.0%	+179,041
Blue Owl Capital Holdings LP	1,539,764	$28.0M	4.3%	−370,000
Venrock Adviser, LLC	1,379,965	$25.1M	0.8%	No change
Boothbay Fund Management, LLC	1,082,611	$19.7M	0.4%	−30,192
Dimensional Fund Advisors LP	1,046,694	$19.1M	0.0%	+140,666
Goldman Sachs Group Inc	1,001,598	$18.2M	0.0%	+546,149
Affinity Asset Advisors, LLC	875,760	$15.9M	0.8%	+94,500
Vanguard Portfolio Management LLC	738,741	$13.5M	0.0%	+186,188
Boone Capital Management LLC	704,442	$12.8M	3.0%	New
Elmind Capital, LP	690,000	$12.6M	3.2%	+160,000
Morgan Stanley	629,035	$11.5M	0.0%	+39,552
Twin Focus Capital Partners, LLC	595,489	$10.8M	1.1%	No change
Aqr Capital Management LLC	581,338	$10.6M	0.0%	+220,464
Northern Trust Corp	571,080	$10.4M	0.0%	+121,822
Bank Of America Corp /de/	510,325	$9.3M	0.0%	−6,399
Nuveen, LLC	471,947	$8.6M	0.0%	−333,753

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataCullinan Oncology on Wikidata
2
SEC EDGARCullinan Oncology filings on SEC EDGAR
3
SEC EDGARCullinan Oncology filings on SEC EDGAR
4
SEC EDGARCullinan Oncology 10-K for fiscal 2022
5
SEC EDGARCullinan Oncology 10-K for fiscal 2022
6
SEC EDGARCullinan Oncology 10-K for fiscal 2020
7
SEC EDGARCullinan Oncology 10-Q for fiscal 2026
8
SEC EDGARCullinan Oncology 10-Q for fiscal 2026
9
SEC EDGARCullinan Oncology 10-K filed 2026-03-10: income statement
10
SEC EDGAROwen Hughes, Chief executive officer
11
SEC EDGARNadim Ahmed, Chief executive officer
12
SEC EDGARMary Kay Fenton, Chief financial officer
13
SEC EDGARJeffrey Trigilio, Chief financial officer
14
SEC EDGARNate Nguyen, Interim PAO and PFO
15
SEC EDGARCorrine Savill, Acting Chief Business Officer
16
SEC EDGARJennifer Michaelson, Officer
17
SEC EDGARJon Marc Wigginton, Chief Medical Officer
18
SEC EDGARLeigh Zawel, Officer
19
SEC EDGARPatrick Baeuerle, Officer
20
SEC EDGARAndrew R. Allen, Board member
21
SEC EDGARMittie Doyle, Board member
22
SEC EDGARMary Thistle, Board member
23
SEC EDGARAnne-Marie Martin, Board member
24
SEC EDGARDavid P. Ryan, Board member
25
SEC EDGARAnsbert Gadicke, Board member
26
SEC EDGARAnthony Rosenberg, Board member
27
SEC EDGARMorana Jovan-Embiricos, Board member
28
SEC EDGARThomas Ebeling, Board member
29
SEC EDGARJacquelyn L. Sumer, General counsel