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Equity-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-based Compensation Expense Categories In Consolidated Statements of Operations and Comprehensive Income (Loss)

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