CGEM - Cullinan Therapeutics, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$32.17
DETAILS
HIGH:
$38.00
LOW:
$28.00
MEDIAN:
$30.00
CONSENSUS:
$32.17
UPSIDE:
132.44%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 18.9 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0.3 | 0 | 0 | 0 | 0.1 | 0.1 | 0.0 |
| Gross Profit | 0 | (0.3) | 0 | 0 | 18.9 | (0.1) | (0.1) | (0.0) |
| Operating Expenses | ||||||||
| R&D Expenses | 187.4 | 142.9 | 148.2 | 91.9 | 57.8 | 43.2 | 16.8 | 9.6 |
| SG&A Expenses | 54.2 | 53.7 | 42.5 | 40.2 | 29.1 | 17.1 | 5.5 | 5.0 |
| Other Expenses | 0 | 0 | 0.4 | (276.8) | 0 | 0 | 0 | 0 |
| Operating Expenses | 241.6 | 196.6 | 191.1 | (144.6) | 86.9 | 60.3 | 22.3 | 14.6 |
| Operating Income | ||||||||
| Operating Income | (241.6) | (196.9) | (191.1) | 144.6 | (68.0) | (60.3) | (22.3) | (14.6) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 22.2 | 29.7 | 21.6 | 6.6 | 0.5 | 0.9 | 0.6 | 0.4 |
| Profitability | ||||||||
| EBITDA | (241.3) | (167.2) | (190.3) | (132.0) | (67.9) | (60.3) | (22.2) | (14.5) |
| EBIT | (241.6) | (167.5) | (190.6) | (132.1) | (68.0) | (60.3) | (22.3) | (14.6) |
| Income Before Tax | (219.9) | (167.5) | (169.2) | 151.3 | (67.5) | (59.5) | (21.7) | (14.2) |
| Income Tax Expense | 0 | 0.1 | (14.1) | 42.1 | 0 | 0 | 0 | 0 |
| Net Income | (219.9) | (167.4) | (153.2) | 111.2 | (65.6) | (51.8) | (20.0) | (14.2) |
| Per Share Data | ||||||||
| EPS (Basic) | -3.72 | -3.11 | -3.69 | 2.46 | -1.48 | -1.19 | -19.70 | -17.74 |
| EPS (Diluted) | -3.72 | -3.11 | -3.69 | 2.38 | -1.48 | -1.19 | -19.68 | -17.74 |
| Shares Outstanding | 59.0 | 53.8 | 41.5 | 45.2 | 44.3 | 43.5 | 1.0 | 0.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 88.3 | 83.0 | 98.4 | 156.2 | 59.8 | 168.2 | 63.2 | 33.8 |
| Short-Term Investments | 289.6 | 316.0 | 368.6 | 311.1 | 230.7 | 42.0 | 35.4 | 0 |
| Net Receivables | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 8.9 | 12.7 | 13.1 | 7.2 | 0 | 0 | 0 | 0 |
| Total Current Assets | 386.8 | 414.7 | 480.2 | 474.5 | 296.6 | 212.3 | 100.1 | 34.2 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 3.1 | 2.4 | 3.5 | 5.3 | 0.1 | 0.1 | 0.2 | 0.2 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 58.3 | 204.4 | 0 | 80.9 | 140.4 | 0 | 0 | 0 |
| Other Non-Current Assets | 0.3 | 0.4 | 0.5 | 0.5 | 0.1 | 2.3 | 0.2 | 0.2 |
| Total Non-Current Assets | 61.6 | 207.2 | 4.0 | 86.6 | 140.6 | 2.4 | 0.4 | 0.4 |
| Total Assets | 448.4 | 621.8 | 484.2 | 561.1 | 437.2 | 214.7 | 100.5 | 34.6 |
| Current Liabilities | ||||||||
| Account Payables | 0.8 | 1.7 | 2.5 | 2.7 | 3.2 | 9.7 | 0.9 | 0.3 |
| Short-Term Debt | 0.8 | 0 | 0 | 0.2 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 36.1 | 1.4 | 7.9 | 2.0 | 3.5 | 1.8 | 0.5 | 0.0 |
| Total Current Liabilities | 37.7 | 30.6 | 28.1 | 22.5 | 11.7 | 14.3 | 2.5 | 1.3 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 1.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0.1 | 0.1 | 137.8 | 54.0 |
| Total Non-Current Liabilities | 1.9 | 0.8 | 2.1 | 3.6 | 0.1 | 0.1 | 137.8 | 54.0 |
| Total Liabilities | 39.6 | 31.5 | 30.3 | 26.1 | 11.8 | 14.4 | 140.4 | 55.3 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (588.1) | (368.2) | (200.9) | (47.7) | (158.9) | (93.3) | (41.5) | (20.9) |
| Accumulated Other Comprehensive Income | 1.0 | (0.1) | (0.1) | (2.6) | (0.8) | (0.0) | (0.0) | 0 |
| Total Stockholders' Equity | 408.7 | 590.3 | 453.7 | 535.0 | 425.0 | 199.0 | (40.8) | (20.7) |
| Total Liabilities & Equity | 448.4 | 621.8 | 484.2 | 561.1 | 437.2 | 214.7 | 100.5 | 34.6 |
| Debt Metrics | ||||||||
| Total Debt | 2.7 | 2.2 | 3.6 | 5.2 | 0 | 0 | 0 | 0 |
| Net Debt | (85.6) | (80.9) | (94.8) | (151.0) | (59.8) | (168.2) | (63.2) | (33.8) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (219.9) | (167.6) | (153.2) | 109.2 | (67.5) | (51.8) | (20.7) | (14.2) |
| Depreciation & Amortization | 0.3 | 0.3 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 |
| Stock-Based Compensation | 36.0 | 37.8 | 30.4 | 28.0 | 24.4 | 0 | 0 | 0 |
| Change in Working Capital | 14.1 | (0.4) | (0.3) | 11.2 | (3.5) | 6.9 | 0.1 | 0.3 |
| Other Non-Cash Items | (6.3) | (15.5) | (11.5) | (275.1) | 0.1 | 15.1 | (0.4) | 0.3 |
| Operating Cash Flow | (175.8) | (145.3) | (134.3) | (126.7) | (43.4) | (29.8) | (20.9) | (13.5) |
| Investing Activities | ||||||||
| Capital Expenditure | (0.0) | 0 | (0.2) | (1.1) | (0.6) | (0.0) | (0.0) | (0.3) |
| Acquisitions | 0 | 0 | (0.0) | 275 | 0.9 | 1.4 | 0 | 0 |
| Purchases of Investments | (236.5) | (721.1) | (373.4) | (377.9) | (525.8) | (69.8) | (35.4) | 0 |
| Sales/Maturities of Investments | 416.6 | 584.8 | 409.4 | 352.9 | 192.0 | 62.9 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0.0 | 0.1 | (0.3) | 0 | 0 | 0 |
| Investing Cash Flow | 180.0 | (136.3) | 35.8 | 249.0 | (333.8) | (5.4) | (35.4) | (0.3) |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 0 | 1.8 | (2.2) | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 3.5 | 0.5 | (32.1) | 1.5 | 0 | 0 | (0.0) |
| Financing Cash Flow | 1.1 | 266.2 | 40.8 | (25.9) | 268.8 | 140.1 | 85.7 | (0.0) |
| Cash Position | ||||||||
| Net Change in Cash | 5.3 | (15.4) | (57.7) | 96.4 | (108.4) | 104.9 | 29.4 | (13.8) |
| Cash at Beginning | 83.0 | 98.4 | 156.2 | 59.8 | 168.2 | 63.2 | 33.8 | 47.7 |
| Cash at End | 88.3 | 83.0 | 98.4 | 156.2 | 59.8 | 168.2 | 63.2 | 33.8 |
| Free Cash Flow | (175.8) | (145.3) | (134.5) | (127.8) | (44.0) | (29.8) | (20.9) | (13.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 18.9 | 0 | 0 | 0 |
| Gross Profit | 0 | (0.3) | 0 | 0 | 18.9 | (0.1) | (0.1) | (0.0) |
| Operating Income | (241.6) | (196.9) | (191.1) | 144.6 | (68.0) | (60.3) | (22.3) | (14.6) |
| Net Income | (219.9) | (167.4) | (153.2) | 111.2 | (65.6) | (51.8) | (20.0) | (14.2) |
| EPS (Diluted) | -3.72 | -3.11 | -3.69 | 2.38 | -1.48 | -1.19 | -19.68 | -17.74 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 88.3 | 83.0 | 98.4 | 156.2 | 59.8 | 168.2 | 63.2 | 33.8 |
| Total Assets | 448.4 | 621.8 | 484.2 | 561.1 | 437.2 | 214.7 | 100.5 | 34.6 |
| Total Debt | 2.7 | 2.2 | 3.6 | 5.2 | 0 | 0 | 0 | 0 |
| Stockholders' Equity | 408.7 | 590.3 | 453.7 | 535.0 | 425.0 | 199.0 | (40.8) | (20.7) |
| Cash Flow | ||||||||
| Operating Cash Flow | (175.8) | (145.3) | (134.3) | (126.7) | (43.4) | (29.8) | (20.9) | (13.5) |
| Capital Expenditure | (0.0) | 0 | (0.2) | (1.1) | (0.6) | (0.0) | (0.0) | (0.3) |
| Free Cash Flow | (175.8) | (145.3) | (134.5) | (127.8) | (44.0) | (29.8) | (20.9) | (13.8) |