Cullinan Therapeutics (CGEM) Operating Expenses (2020 - 2026)
Cullinan Therapeutics (CGEM) posted quarterly Operating Expenses of $53.7 million for Q1 2026, down 2.36% year-over-year from $55.0 million in Q1 2025, and down 2.83% quarter-over-quarter from $55.3 million in Q4 2025.
Analysis
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.
- In Q1 2026, Operating Expenses fell 2.36% year-over-year to $53.7 million; the TTM figure through Mar 2026 stood at $240.3 million (up 15.04% YoY), while the FY2025 annual figure was $241.6 million, up 22.71% from the prior year.
- Operating Expenses for Q1 2026 stood at $53.7 million, down from $55.3 million in the prior quarter.
- The five-year high for Operating Expenses was $75.8 million in Q2 2025, with the low 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.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses jumped 123.48% in 2022, then plunged 31.5% in 2024.
- Cullinan Therapeutics' Operating Expenses stood at $32.6 million in 2022, then soared by 39.49% to $45.5 million in 2023, then grew by 21.02% to $55.0 million in 2024, then gained by 0.38% to $55.3 million in 2025, then retreated by 2.83% to $53.7 million in 2026.
- Business Quant data shows CGEM's Operating Expenses at $53.7 million in Q1 2026, $55.3 million in Q4 2025, and $55.6 million in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.87 Bn | 131.01 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 85.57 Bn | 77.57 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 63.51 Bn | 58.32 Bn | 1.37 Bn | -1.05 Bn |
| 4 | Moderna | 58.19 Bn | 53.05 Bn | 52.00 Mn | 960.00 Mn |
| 5 | Revolution Medicines | 44.07 Bn | 44.07 Bn | - | 505.13 Mn |
| 6 | BeOne Medicines | 39.99 Bn | 34.89 Bn | 1.53 Bn | 1.21 Bn |
| 7 | Alnylam Pharmaceuticals | 35.38 Bn | 32.07 Bn | 992.69 Mn | 1.06 Bn |
| 8 | Royalty Pharma | 28.42 Bn | 27.58 Bn | - | 541.02 Mn |
| 9 | Insmed | 27.41 Bn | 26.25 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Cullinan Therapeutics | 1.37 Bn | 1.37 Bn | - | 57.25 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 57.25 Mn |
| 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 |