Cullinan Oncology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 07:00 am EDT
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Cullinan Oncology, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 32.21 million compared to net income of USD 174.9 million a year ago. Basic loss per share from continuing operations was USD 0.82 compared to basic earnings per share from continuing operations of USD 3.9 a year ago. Diluted loss per share from continuing operations was USD 0.82 compared to diluted earnings per share from continuing operations of USD 3.77 a year ago.
For the six months, net loss was USD 90.18 million compared to net income of USD 162.8 million a year ago. Basic loss per share from continuing operations was USD 2.24 compared to basic earnings per share from continuing operations of USD 3.65 a year ago. Diluted loss per share from continuing operations was USD 2.24 compared to diluted earnings per share from continuing operations of USD 3.51 a year ago.
Cullinan Therapeutics, Inc., formerly Cullinan Oncology, Inc., is a biopharmaceutical company focused on developing modality-agnostic targeted therapies. It has a portfolio of clinical-stage assets that inhibit key drivers of disease or harness the immune system to eliminate diseased cells in both oncology and autoimmune diseases. Its pipeline includes CLN-619, CLN-978, Zipalertinib (CLN-081/TAS6417), CLN-049, CLN-418, and CLN-617. Its lead unpartnered program, CLN-619, is a humanized lgG1 monoclonal antibody (mAb) that binds to the stress induced ligands MICA and MICB (MICA/B), which are expressed on a variety of solid tumors and hematologic malignancies. CLN-978 is a novel, highly potent, half-life extended CD19xCD3 bispecific T cell engager construct. CLN-081/TAS6417 is a novel, orally available, covalent inhibitor of mutant epidermal growth factor receptor (EGFR). CLN-049 is a FLT3xCD3 T cell engaging bispecific antibody. CLN-418 is a B7H4 x 4-1BB bispecific immune activator.
CULLINAN THERAPEUTICS, INC. 
