Cullinan Management (CGEM) just unveiled an update.
Cullinan Therapeutics, Inc. recently entered into a private placement deal with institutional investors to sell over 14 million shares and pre-funded warrants, aiming to raise approximately $280 million. The funds are set to advance the clinical development of their autoimmune therapy, CLN-978, and extend the company’s financial runway into 2028. In a strategic move, Cullinan also announced a shift in focus to autoimmune diseases, discontinuing its B-NHL study, and is preparing to submit an IND for a lupus study. Concurrently, the company has undergone a name change from Cullinan Oncology, Inc. to Cullinan Therapeutics, Inc., with continued trading on The Nasdaq Global Select Market under the ticker “CGEM”.
Learn more about CGEM stock on TipRanks’ Stock Analysis page.
