Cullinan Therapeutics (CGEM) Operating Expenses (2020 - 2026)
Cullinan Therapeutics' (CGEM) quarterly Operating Expenses came in at $53.7 million in Q1 2026, down 2.36% year-on-year from $55.0 million in Q1 2025, and down 2.83% quarter-over-quarter from $55.3 million in Q4 2025.
Cullinan Therapeutics (CGEM) Operating Expenses (2020 - 2026) Analysis & Trends
Cullinan Therapeutics' Operating Expenses history runs 7 years deep, the most recent figure standing at $53.7 million for Q1 2026.
- On a quarterly basis, Operating Expenses fell 2.36% year-over-year to $53.7 million in Q1 2026; TTM through Mar 2026 was $240.3 million, a 15.04% increase from a year earlier, with the FY2025 full-year figure at $241.6 million, up 22.71% from the prior year.
- Operating Expenses slipped to $53.7 million in Q1 2026 per CGEM's latest filing, from $55.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at $75.8 million in Q2 2025 and bottomed at $29.8 million in Q3 2022.
- The 5-year median for Operating Expenses is $48.9 million (2024), against an average of $47.9 million.
- Across the five-year window, Operating Expenses jumped 123.48% in 2022 and sank 31.5% in 2024, its largest moves.
- Year by year, Operating Expenses stood at $32.6 million in 2022, then jumped by 39.49% to $45.5 million in 2023, then increased by 21.02% to $55.0 million in 2024, then advanced by 0.38% to $55.3 million in 2025, then decreased by 2.83% to $53.7 million in 2026.
- Per Business Quant, the three latest CGEM Operating Expenses figures stand at $53.7 million (Q1 2026), $55.3 million (Q4 2025), and $55.6 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | -28.01 Mn |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 1.10 Bn |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | -3.78 Mn |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 1.85 Bn |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 2.96 Bn |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | 32.68 Mn |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 2.89 Bn |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | 445.22 Mn |
| 10 | Cullinan Therapeutics | 368.65 Mn | 368.65 Mn | - | 53.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 53.70 Mn |
| Dec 31, 2025 | 55.26 Mn |
| Sep 30, 2025 | 55.60 Mn |
| Jun 30, 2025 | 75.80 Mn |
| Mar 31, 2025 | 55.00 Mn |
| Dec 31, 2024 | 55.05 Mn |
| Sep 30, 2024 | 48.86 Mn |
| Jun 30, 2024 | 50.03 Mn |
| Mar 31, 2024 | 42.99 Mn |
| Dec 31, 2023 | 45.49 Mn |
| Sep 30, 2023 | 44.80 Mn |
| Jun 30, 2023 | 37.61 Mn |
| Mar 31, 2023 | 62.76 Mn |
| Dec 31, 2022 | 32.61 Mn |
| Sep 30, 2022 | 29.77 Mn |
| Jun 30, 2022 | 37.11 Mn |
| Mar 31, 2022 | 32.66 Mn |
| Dec 31, 2021 | 34.35 Mn |
| Sep 30, 2021 | 18.38 Mn |
| Jun 30, 2021 | 16.60 Mn |