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Equity-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Equity-Based Compensation

(7)Equity-Based Compensation

Cullinan recorded equity-based compensation in the following expense categories in the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2026 and 2025 (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2026				2025				2026				2025
General and administrative		$	4,142			$	5,721			$	7,799			$	11,166
Research and development			4,305				4,166				8,264				8,095
Total equity-based compensation		$	8,447			$	9,887			$	16,063			$	19,261

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- Definition

The entire disclosure for share-based payment arrangement.

+ References

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-Topic 718
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-Name Accounting Standards Codification
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