Quick Answer
Cullinan Therapeutics, Inc. reported R&D Expense of $187.40 million for fiscal year 2025.
Cullinan Therapeutics, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $187.40M | +31.1% |
| 2024 | $142.90M | -3.5% |
| 2023 | $148.16M | +61.1% |
| 2022 | $91.95M | +59.2% |
| 2021 | $57.75M | +33.6% |
| 2020 | $43.21M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $41.97M | +18.2% | -31.2% |
| June 30, 2025 | $61.03M | +68.3% | +47.2% |
| March 31, 2025 | $41.46M | +35.3% | +16.8% |
| September 30, 2024 | $35.51M | +5.0% | -2.1% |
| June 30, 2024 | $36.26M | +32.4% | +18.3% |
| March 31, 2024 | $30.65M | -41.2% | -9.4% |
| September 30, 2023 | $33.82M | +71.9% | +23.5% |
| June 30, 2023 | $27.39M | +3.7% | -47.4% |
- Cullinan Therapeutics, Inc. showed an increase of +31.1% in R&D Expense compared to the prior fiscal year.
- Over the 2020–2025 period, Cullinan Therapeutics, Inc.’s r&d expense has grown by 333.7% (from $43.21 million to $187.40 million).
- The most recent figure is from Cullinan Therapeutics, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 10, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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