Cullinan therapeutics announces oversubscribed $280 million private placement

Financing includes new and existing leading life sciences institutional investors proceeds, along with existing cash and cash equivalents, are expected to extend cash runway into 2028 cullinan to host a virtual investor event on april 16 at 8:00 am et cambridge, mass., april 16, 2024 (globe newswire) -- cullinan therapeutics, inc. (formerly cullinan oncology, inc.) (nasdaq: cgem; “cullinan”), a biopharmaceutical company focused on developing modality-agnostic targeted therapies, today announced that it has entered into a stock purchase agreement with certain institutional and accredited investors for a private placement of approximately $274.0 million of shares of its common stock at a price of $19.00 per share and, in lieu of common stock to certain investors, $6.0 million of pre-funded warrants to purchase shares of its common stock at a price of $18.999 per pre-funded warrant.
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