Cullinan expects cash runway into 2029 under its current operating plan.
Overview
US biopharmaceutical firm's Q2 net loss narrowed year over year.
Company ended Q2 with $356 million in cash and investments, runway into 2029.
Analyst coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Cullinan Therapeutics, Inc. is $37.00, about 110.1% above its August 5 closing price of $17.61.
Result drivers and key details
Lower R&D spending: Research and development expenses fell to $44.4 million in Q2 from $61.0 million a year earlier.
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