Financial Position - As of September 30, 2023, the company had cash, cash equivalents, and short-term investments totaling $466.4 million, with long-term investments and interest receivable of $15.5 million[66]. - The company has incurred significant operating losses since inception, with an accumulated deficit of $177.1 million as of September 30, 2023[66]. - The company expects its current cash resources to fund operations for at least twelve months from the date of the financial statements[91]. - Net cash used in operating activities for the nine months ended September 30, 2023, was $116.1 million, compared to $101.7 million for the same period in 2022, indicating a 14.3% increase in cash outflow[84]. - Cash, cash equivalents, and short-term investments as of September 30, 2023, totaled $466.4 million, with long-term investments and interest receivable of $15.5 million[83]. - Net cash provided by financing activities for the nine months ended September 30, 2023, was $40.5 million, mainly from $38.4 million in net proceeds from the issuance of common stock under the ATM[93]. - As of September 30, 2023, total future minimum lease payments were $4.6 million, with $1.9 million payable within twelve months[96]. Revenue and Financing - The company has not generated any revenue from product sales since inception and does not expect to do so in the near future[71]. - The company has received net proceeds of $579.6 million from equity financings and $275.0 million from the sale of its equity interest in Cullinan Pearl Corp. to Taiho in June 2022[66]. - The company expects to finance cash needs through equity offerings, debt financings, and collaborations until product revenue is sufficient for profitability[95]. - The company sold approximately 3.3 million shares under its at-the-market equity offering program, receiving net proceeds of $38.4 million in the nine months ended September 30, 2023[91]. Operating Expenses - Total operating expenses for the three months ended September 30, 2023, were $44.8 million, compared to $29.8 million for the same period in 2022, representing a 50.5% increase[78]. - Research and development expenses increased to $33.8 million for the three months ended September 30, 2023, from $19.7 million in the same period in 2022, a 71.8% increase[79]. - The company expects expenses to continue increasing due to ongoing activities, particularly in clinical trials and manufacturing of product candidates, as well as costs associated with operating as a public company[94]. Research and Development - The lead program, CLN-619, demonstrated anti-tumor activity in heavily pre-treated patients, with one confirmed complete response and two confirmed partial responses among 22 evaluable patients[65]. - Zipalertinib has received Breakthrough Therapy designation from the FDA and is being evaluated in pivotal trials for EGFRex20 non-small-cell lung cancer[65]. - Initial clinical data for CLN-418 is expected in the second half of 2024, while the first patient for CLN-617 is anticipated to be dosed by year-end 2023[66]. - The company holds worldwide development and commercialization rights to several product candidates, including CLN-619, CLN-049, CLN-978, and CLN-617[66]. - The company expects to continue generating operating losses for the foreseeable future, dependent on the success of its research and development efforts[66]. - Future funding requirements may increase significantly based on factors such as the scope and progress of drug discovery and clinical development, timely completion of studies, and the ability to establish collaborations[95]. Other Financial Information - Net loss attributable to common stockholders for the three months ended September 30, 2023, was $39.2 million, compared to a loss of $24.8 million in the same period in 2022, reflecting a 58.1% increase in losses[78]. - Other income increased by $13.1 million for the nine months ended September 30, 2023, primarily due to higher investment income[88]. - Impairment of long-lived assets was recorded at $(440,000) for the three months ended September 30, 2023, with no impairment recorded in the same period in 2022[78]. - For the nine months ended September 30, 2023, net cash used by investing activities was $15.7 million, primarily due to $307.4 million in purchases of marketable securities, partially offset by $291.9 million in proceeds from sales and maturities of marketable securities[93]. Capital Requirements - The company may require additional capital to pursue in-licenses or acquisitions to expand its pipeline[94]. - The company has certain payment obligations under various license and collaboration agreements, which are contingent upon achieving specific milestones[96]. - The company has adopted a blended rate for expected stock price volatility in the Black-Scholes option pricing model, combining its historical volatility with that of similar entities[98]. - The company remains an emerging growth company and has elected to use the extended transition period for new accounting standards[100].

There is a compelling biological and clinical rationale for targeting • 10 mg/kg: 1 ovarian (ongoing after 3 cycles), 1 cervical (ongoing after 6 cycles) 0 10 20 30 0 Stu y Duration ( eeks) MICA-NKG2D Binding in Presence of CLN-619 Abs References 1. Chihara et al. Lancet 2022. 2. Papadopoulos et al. ASCO 2019. 3. Bendell et al. AACR 2020. 4. Patients who underwent at least one RECIST response assessment or who had clinically assessed PD prior to first planned assessment 5. Endometrial, cervical, and ovarian ...

26 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. Cullinan Oncology, Inc. Date: August 10, 2023 By : /s/ Nadim Ahmed Name: Nadim Ahmed Title: President and Chief Executive Officer (Principal Executive Officer) Date: August 10, 2023 By : /s/ Jeffrey Trigilio Name: Jeffrey Trigilio Title: Chief Financial Officer (Principal Financial and Accounting Of ...

1. CTCAE v5.0. 2. 100 mg patient with Gr3 pneumonitis confounded by recent treatment with CPI and concurrent hydropneumothorax in contralateral lung; 150 mg patient with Gr3 pneumonitis confounded by concurrent pneumocystis infection, had stopped zipalertinib 3 weeks prior to event; 100 mg patient with grade 1 pneumonitis treated with steroids with resolution and continued therapy; 65 mg patient with Gr 2 pneumonitis previously had pneumonitis on osimertinib. 16 Zipalertinib Phase 1/2a and pivotal study des ...

See accompanying notes to the unaudited consolidated financial statements. Item 1. Financial Statements. CULLINAN ONCOLOGY, INC. CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share amounts) Current liabilities: Accounts payable $ 2,031 $ 2,660 Accrued expenses and other current liabilities 18,379 14,135 Income tax payable 4,207 4,282 Operating lease liabilities, current 1,554 1,421 Total current liabilities 26,171 22,498 Long-term liabilities: Operating lease liabilities, net of current port ...

Some of our of icers and directors currently serve, and in the future may serve, as directors or of icers of our subsidiaries, and, as a result, have and may continue to have, fiduciary and other duties to our subsidiaries causing conflicts of interest with respect to their duties to us and their duties to our subsidiaries and in determining how to devote themselves to our af airs and the af airs of our subsidiaries. Our subsidiaries' partners may also disagree with the suf iciency of resources that we prov ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39856 CULLINAN ONCOLOGY, INC. (Exact name of Registrant as specified in its Charter) Delaware 81-3879991 (State or other ju ...

| --- | --- | --- | --- | |---------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | Mining for Tomorrow's Cures Cullinan Oncology Overview | | | | | Q3 2022 | | | | 2 Important notice and disclaimers This Presentation contains forward-looking statements and information. All statements other than statements of historical facts contained in this Presentation, including statements regarding our strategy, future financial condition, future operations, projected co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.0001 per share CGEM The Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39856 CULLINAN ONCOLOGY, INC. (Exact name of Registrant as specified in its Charter) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR Delaware 81-3879991 (State or other jurisd ...