Cullinan Therapeutics, Inc. (Nasdaq: CGEM) announced its financial results for the three and nine months ended September 30, 2026, and provided a corporate update on its clinical-stage pipeline. The company reported a net loss of $49.4 million for the third quarter of 2026, compared to a net loss of $50.6 million for the same period in 2025. Research and development expenses were $40.2 million for the quarter, while general and administrative expenses were $12.4 million.
As of September 30, 2026, the company held $313.8 million in cash, cash equivalents, short-term investments, and interest receivable. Cullinan stated that its cash resources are expected to provide runway into 2029 under its current operating plan.
In its pipeline update, Cullinan highlighted several key developments:
- CLN-978 (CD19 T cell engager): The company plans to share multi-dose regimen data in systemic lupus erythematosus (SLE), rheumatoid arthritis (RA), and Sjögren’s disease in a December webcast. The data will cover approximately 20 patients across the three indications.
- Velinotamig (BCMA T cell engager): A global Phase 1/2 study in autoimmune cytopenias was initiated in October following FDA clearance. Additionally, data from a Genrix Bio Phase 1/2 study in China showed rapid reductions in proteinuria in five of seven SLE patients, with four achieving a complete renal response.
- CLN-049 (FLT3 T cell engager): A potentially registrational Phase 2 study in relapsed/refractory acute myeloid leukemia (AML) was initiated in October. A Phase 1/2 study combining CLN-049 with venetoclax and azacitidine for newly diagnosed AML also began in November.
- Zipalertinib (EGFR inhibitor): Taiho Oncology initiated a New Drug Application (NDA) submission for zipalertinib plus chemotherapy in first-line EGFR ex20ins non-small cell lung cancer in October. The submission is based on Phase 3 data demonstrating improved progression-free survival. An NDA for zipalertinib monotherapy is under review with a target action date of February 27, 2027.
