Cullinan’s $393M Cash Runway, Zipalertinib NDA Accepted, CLN-978 Data in June
Cullinan Therapeutics reported Q1 2026 cash and investments of $393.3 million, funding operations into 2029, and R&D spend of $42.1 million. The FDA accepted the zipalertinib NDA for EGFR ex20ins NSCLC with a PDUFA date of February 27, 2027, and CLN-978 clinical data will debut at June's EULAR Congress.
1. Corporate and Pipeline Updates
Cullinan detailed numerous upcoming data readouts and milestones across its T cell engager pipeline, including initial CLN-978 CD19 T cell engager data for SLE and RA at the EULAR Congress in June and multi-dose RA data in Q3 2026, CLN-978 Sjögren’s results in Q4, Velinotamig Phase 1 SLE data in Q4, and CLN-049 AML/MDS Phase 1 updates through H2 with a Phase 1/2 trial set to start in Q4. The company also announced FDA acceptance of the zipalertinib NDA for EGFR ex20ins NSCLC with a PDUFA date of February 27, 2027, and is eligible for up to $130 million in regulatory milestones plus U.S. profit sharing.
2. First-Quarter Financial Results
As of March 31, 2026, Cullinan held $393.3 million in cash, cash equivalents and investments, providing operational runway into 2029 under its operating plan. Research and development expenses were $42.1 million for the quarter, up modestly from $41.5 million in Q1 2025.