Cullinan Therapeutics, Inc. (CGEM) Stock Score, Valuation & Financial Research

Cullinan Therapeutics, Inc. is in the Healthcare sector and Biotechnology industry. It is reviewed using Wall Street Score's company-strength, valuation, growth and financial-health framework. A complete Wall Street Score is not currently available.

Quick answer for CGEM

Cullinan Therapeutics, Inc. does not currently have a complete Wall Street Score. The stored market price is USD 15.35. These figures are a research snapshot, not a buy or sell recommendation.

What Cullinan Therapeutics, Inc. does

Cullinan Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops therapies for autoimmune diseases and cancer in the United States. It engages in the development of CLN-978, a CD19xCD3 bispecific T cell engager for autoimmune diseases in Phase 1 clinical trials; Velinotamig, a BCMAxCD3 bispecific T cell in Phase 1 clinical trials in patients with autoimmune diseases; and CLN-049, a FLT3xCD3 bispecific T cell engager, which is in Phase 1 clinical trials in patients with relapsed and refractory acute myeloid leukemia or myelodysplastic syndrome. The company is also developing Zipalertinib, an orally available small-molecule, irreversible epidermal growth factor receptor inhibitor in Phase 2b portion of the REZILIENT1 clinical trial in patients with EGFR ex20ins non-small cell lung cancer. It has a license agreement with Chongqing Genrix Biopharmaceutical Co., Ltd to develop and commercialize velinotamig; a co-development agreement with Taiho Pharmaceutical Co., Ltd to develop zipalertinib; and a collaboration agreement with Adimab, LLC to discover and/or optimize antibodies. The company was formerly known as Cullinan Oncology, Inc. and changed its name to Cullinan Therapeutics, Inc. in April 2024. Cullinan Therapeutics, Inc. was incorporated in 2016 and is headquartered in Cambridge, Massachusetts.

Company business and revenue

Research reporting period: 2025-12-31. A research update is not a new financial filing.

How the company makes money

Cullinan Therapeutics is a clinical-stage biopharmaceutical company that does not currently generate revenue from product sales. Its business model relies on research and development of therapeutic candidates, funded through capital raises and potential future milestone payments or royalties from license and collaboration agreements.

Products and services

  • The company develops a pipeline of T cell engagers and immunotherapeutic candidates for autoimmune diseases and cancer, including CLN-978, velinotamig, CLN-049, and zipalertinib.

Suppliers, materials and equipment

  • Contract Manufacturing Organizations — The company relies on unnamed third-party contract manufacturing organizations for the production of clinical trial materials. Source

Business relationships and partnerships

  • Chongqing Genrix Biopharmaceutical Co., Ltd. — Licensing agreement for the development of velinotamig, a BCMAxCD3 bispecific T cell engager. Source

Business strengths to evaluate

  • Clinical-stage pipeline focused on T cell engagers Source

Business risks and research considerations

  • History of operating losses and expectation of future losses Source
  • Dependence on success of clinical trials and regulatory approval Source

Sources: Company research source

Company research refreshed 2026-10-12. This is saved research, not a live check of company relationships. Check the reporting period and source disclosures. Financial figures and scores follow their separate update schedules.

CGEM financial snapshot

Statement amounts: USD. Quote amounts: USD. No exchange-rate conversion is performed in this snapshot. Market-capitalization currency is not supplied by this projection.

Wall Street Score:
Not currently available
Stored price:
USD 15.35
Market capitalization:
943.38M (currency not supplied)
Revenue:
USD 0.00
Net income:
USD -204.69M
Free cash flow:
USD -175.8M
Cash:
USD 78.64M
Total debt:
USD 2.07M
EPS:
USD -3.37

What stands out

  • Free cash flow is USD -175.8M, negative for the stored period.
  • The balance sheet shows USD 78.64M of cash versus USD 2.07M of total debt, an excess of cash over debt on these two reported measures.
  • The current research record carries a missing revenue history warning, which should be reviewed alongside the score.

Company-specific financial comparisons

The following are calculated from saved company data, not forecasts or statements about future performance. Differences in reporting dates or units can make a ratio misleading; verify the original filings.

  • Cash exceeds debt by USD 76.57M using the stored balance-sheet values. This does not include other obligations or restricted cash.

Questions worth answering for CGEM

Use these questions to check the stored figures against the latest company filings. They identify issues to investigate; they are not findings about management's plans or future results.

  • How long can CGEM fund negative free cash flow using its current cash position before it may need more debt or new shares?
  • How is CGEM likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
  • What specifically needs to improve for CGEM to reach sustainable profitability?
  • What does the current missing revenue history warning mean for the reliability or interpretation of CGEM's score?

What the numbers mean

A complete valuation score is not currently available, so valuation should be checked using the available earnings, cash-flow and price data.

A complete financial score is not currently available, so investors should review cash, debt, earnings and cash flow directly.

A strong company and an attractive stock price are not always the same thing. Revenue, earnings, free cash flow, debt, management quality, competitive advantage and valuation should be considered together. Wall Street Score organizes these inputs into a consistent research framework so investors can identify what deserves deeper review.

Data freshness: Financial data last refreshed 2026-10-01.

Research-input completeness: 73% of the scoring inputs required for this public page are currently available.

How to research CGEM

Start by understanding how the company makes money. Then compare revenue and earnings trends, cash generation, debt, liquidity and valuation. Review the company's latest filings and earnings reports before acting on any score or model estimate.

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Data may change as company filings and market prices update. Educational research only; not a buy or sell recommendation.