Cullinan Therapeutics, Inc.

Cullinan Therapeutics, Inc. (CGEM) priced its initial public offering on Jan 11, 2021 at $21.00 per share, above its $19.00–$20.00 range, raising $249.9M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $869.4M. Morgan Stanley was lead-left underwriter, joined by Leerink Partners and Evercore ISI. Goodwin Procter advised the company and Ropes & Gray advised the underwriters.

Cullinan Therapeutics, Inc. is a biopharmaceutical company building a diversified pipeline of targeted oncology and immuno-oncology therapies. Using a hub-and-spoke model, it has developed or in-licensed seven distinct programs in about three and a half years.

Status

IPO

Ticker

CGEM

Exchange

Nasdaq Global Select

Priced

Jan 11, 2021

IPO price

$21.00

Price range

$19.00–$20.00

Raised

$249.9M

Market cap at IPO price

$869.4M

First filed

Dec 18, 2020

Underwriters

Morgan Stanley, Leerink Partners and Evercore ISI

Company counsel

Goodwin Procter

Underwriters' counsel

Ropes & Gray

Sector

Biotech & pharma

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.