Cullinan Therapeutics, Inc. (CGEM) Stock

Cullinan Therapeutics, Inc. (CGEM) is a Healthcare stock trading at $21.38 (as of 2026-08-20), with a market capitalization of $1.38B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cullinan Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing oncology and immuno-oncology therapies. Its pipeline includes CLN-978, CLN-619, zipalertinib (CLN-081/TAS6417), CLN-049, and CLN-617.

Understand Cullinan Therapeutics, Inc.: how it makes money

Cullinan Therapeutics develops oncology and immuno-oncology therapies through its clinical-stage pipeline (including CLN-978, CLN-619, Zipalertinib CLN-081/TAS6417, CLN-049, and CLN-617), with value primarily tied to clinical trial results for these candidates.

Because Cullinan is a clinical-stage biopharmaceutical company, the profit model depends on whether its oncology and immuno-oncology candidates demonstrate clinically meaningful responses in trials.

Business quality (Weak): Clear oncology focus with multiple pipeline programs, but as a clinical-stage company the primary swing factor is trial outcome, and current profitability metrics are deeply negative.

Bull case

  • Clinical response signal shown in the provided Module C metrics: Objective Response Rate (Confirmed) - Module C is listed as 39% and Disease Control Rate - Module C is listed as 94%.
  • Multiple oncology and immuno-oncology candidates in the pipeline: The pipeline includes CLN-978, CLN-619, Zipalertinib CLN-081/TAS6417, CLN-049, and CLN-617.

Bear case

  • Substantial uncertainty typical of early-stage clinical development: The company is clinical-stage and develops therapies based on trial outcomes, which can change as studies evolve.
  • Profitable operations are not evident in the provided financial snapshot: Operating margin is -1310.3 for the period 2026-03-31, and gross margin is not provided.
Valuation — source: SEC EDGAR (first-party)
Price$21.38
Market Cap$1.38B
Price / Book4.28
Price / Sales81.22
FCF Yield-10.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$22.21M
Net Margin-989.9%
Revenue Growth (YoY)-25.1%
FCF Growth (YoY)21.0%
Financial Health — source: SEC EDGAR
Altman Z-Score16.95 (safe)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderLynx1 Capital Management LP ($127.37M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEONadim Ahmed
Employees111
CountryUS
IPO Date2021-01-08

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CGEM earnings history · CGEM institutional & insider holders · CGEM KPIs & operating metrics · CGEM financials · CGEM investor presentations & press releases · CGEM SEC filings · CGEM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.