XML 22 R16.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Jun. 30, 2026

(9)

Leases

Cullinan has an operating lease for approximately 14,000 square feet of office space in a multi-tenant building in Cambridge, Massachusetts, which commenced in August 2022 and expires in September 2028. Lease expense consisted of operating lease costs of $0.3 million in each of the three months ended June 30, 2026 and 2025. Lease expense consisted of operating lease costs of $0.6 million in each of the six months ended June 30, 2026 and 2025.

The following table summarizes supplemental cash flow information for the six months ended June 30, 2026 and 2025 (in thousands):


	Six Months Ended June 30,
	2026		2025
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases	$	747	$	729

The following table summarizes the Company’s future minimum lease payments as of June 30, 2026 (in thousands):


	June 30, 2026
Remainder of 2026	$	282
2027		1,190
2028		906
Total future minimum lease payments		2,378
Less: imputed interest		(307	)
Total lease liabilities at present value	$	2,071

The following table summarizes the weighted-average remaining lease term and discount rate as of June 30, 2026 and December 31, 2025:


	June 30, 2026			December 31, 2025
Weighted-average remaining lease term (in years)		2.3			2.8
Weighted-average discount rate		11.8	%		11.8	%