Cullinan Therapeutics (CGEM) Balance Sheet: Assets & Liabilities

Cullinan Therapeutics (CGEM) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Cullinan Therapeutics reported total assets of $448.37M and total liabilities of $39.64M. Shareholders' equity was $408.73M, down 30.8% from $590.33M a year earlier. Total debt stood at $2.68M against $377.90M in cash and short-term investments, a net cash position of $375.21M. That puts debt-to-equity at 0.01, compared with 0.01 a year earlier.

Cullinan Therapeutics Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Cullinan Therapeutics, Inc. (CGEM) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Current Assets
Cash and Cash Equivalents	88.33	83.01	98.43	156.15	59.77	168.20	63.25	33.83
Short-Term Investments	289.56	315.97	368.63	311.14	230.69	42.01	35.38	0.00
Cash & Short-Term Investments	377.90	398.98	467.07	467.29	290.47	210.21	98.63	33.83
Accounts Receivable	0.00	3.00	5.40	0.00	0.00	0.00	0.00	0.00
Inventory	0.00	0.00	-5.40	0.00	0.00	0.00	0.00	0.00
Other Current Assets	8.86	15.69	13.12	7.18	6.10	2.07	1.46	0.39
Total Current Assets	386.76	414.67	480.19	474.47	296.56	212.28	100.09	34.22
Non-Current Assets
Property, Plant & Equipment (Net)	3.05	2.35	3.53	5.30	0.08	0.13	0.18	0.23
Long-Term Investments	58.27	204.44	0.00	80.88	140.40	0.00	0.00	0.00
Other Non-Current Assets	0.30	0.37	0.46	0.46	0.15	2.30	0.19	0.19
Total Non-Current Assets	61.62	207.16	3.99	86.65	140.62	2.43	0.37	0.42
Total Assets	448.37	621.82	484.18	561.12	437.19	214.71	100.46	34.64
Current Liabilities
Accounts Payable	0.84	1.68	2.49	2.66	3.17	9.68	0.93	0.30
Short-Term Debt	0.78	2.60	2.88	1.60	0.00	0.00	0.00	0.00
Accrued Liabilities	16.39	10.30	8.43	7.49	8.58	4.64	-	-
Other Current Liabilities	1.00	1.44	0.91	13.96	8.58	4.64	1.59	1.03
Total Current Liabilities	37.74	30.65	28.14	22.50	11.75	14.32	2.52	1.32
Non-Current Liabilities
Long-Term Debt	1.90	0.85	2.15	3.59	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.07	0.07	137.85	53.97
Total Non-Current Liabilities	1.90	0.85	2.15	3.59	0.07	0.07	137.85	53.97
Total Liabilities	39.64	31.50	30.29	26.09	11.81	14.39	140.37	55.29
Stockholders' Equity
Common Stock	0.01	0.01	0.00	0.01	0.00	0.00	0.00	0.00
Retained Earnings	-588.12	-368.24	-200.86	-47.70	-158.91	-93.34	-41.54	-20.87
Accumulated Other Comprehensive Income	1.02	-0.13	-0.13	-2.60	-0.84	0.00	0.00	0.00
Additional Paid-in Capital	995.82	958.70	654.69	585.32	584.71	292.35	0.77	0.21
Minority Interest	0.00	0.00	0.19	0.00	0.40	1.30	0.86	0.00
Shares Outstanding	60.24	58.51	42.90	45.80	44.29	-	-	-
Total Stockholders' Equity	408.73	590.33	453.70	535.03	424.97	199.01	-40.77	-20.65
Total Liabilities & Equity	448.37	621.82	484.18	561.12	437.19	214.71	100.46	34.64

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Cullinan Therapeutics Balance Sheet

How much debt does Cullinan Therapeutics have?

Cullinan Therapeutics had total debt of $2.68M as of Dec 31, 2025, against $377.90M in cash and short-term investments. Its debt-to-equity ratio was 0.01. Total debt was $3.45M a year earlier.

What are Cullinan Therapeutics's total assets?

Cullinan Therapeutics reported total assets of $448.37M as of Dec 31, 2025, down 27.9% from $621.82M a year earlier. Total liabilities were $39.64M.

What is Cullinan Therapeutics's shareholders' equity?

Cullinan Therapeutics's shareholders' equity was $408.73M as of Dec 31, 2025, or about $6.78 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition