Core Insights - Cullinan Therapeutics is advancing its clinical programs with significant updates expected in 2025, particularly for CLN-978 and zipalertinib [2][5] - The company reported a cash position of $606.9 million as of December 31, 2024, providing financial stability into 2028 [10][13] Immunology - CLN-978, a CD19 T cell engager, is the first and only development-stage therapy in autoimmune diseases with FDA IND clearance, with initial clinical data for systemic lupus erythematosus (SLE) expected in Q4 2025 [2][5] - A Phase 1 study for rheumatoid arthritis is set to begin in Q2 2025, in collaboration with institutions in Germany and Italy [5] Oncology - Zipalertinib's pivotal Phase 2b study met its primary endpoint, with full results anticipated mid-year 2025 and a New Drug Application (NDA) submission planned for H2 2025 [2][5] - The company continues to enroll patients in the Phase 1 study of CLN-619 for solid tumors and hematological malignancies, with initial data expected in Q2 2025 [5] Financial Performance - Research and development expenses for Q4 2024 were $40.5 million, up from $34.8 million in Q4 2023, while full-year R&D expenses decreased to $142.9 million from $148.2 million [10][14] - General and administrative expenses rose to $14.6 million in Q4 2024 from $10.6 million in Q4 2023, with full-year G&A expenses increasing to $54.0 million from $42.5 million [10][14] - The net loss attributable to Cullinan was $47.6 million for Q4 2024, compared to $23.8 million in Q4 2023, and $167.4 million for the full year 2024, up from $153.2 million in 2023 [10][14]
Cullinan Therapeutics Provides Corporate Update and Reports Fourth Quarter and Full Year 2024 Financial Results