Cullinan Therapeutics, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 8, 2025. The company announced a net loss of USD 48.5 million for the quarter, compared to a net loss of USD 37.15 million in the same period a year ago. Basic and diluted loss per share from continuing operations was USD 0.74, compared to USD 0.75 in the prior year.
As of March 31, 2025, Cullinan Therapeutics held $567.4 million in cash and investments. The company reiterated its guidance that these cash resources are expected to fund operations into 2028, providing a stable financial foundation for its ongoing clinical development programs.
In its corporate update, Cullinan highlighted recent pipeline advancements, including the European Medicines Agency (EMA) approval for CLN-978 in rheumatoid arthritis, with a Phase 1 study set to initiate in Q2 2025. Additionally, CLN-978's development expanded into Sjögren’s disease, with a U.S. Phase 1 study also initiating in Q2 2025. The company also confirmed that zipalertinib REZILIENT1 results would be shared in an oral presentation at the 2025 ASCO Annual Meeting.
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