v3.25.2
Equity-Based Compensation
6 Months Ended
Jun. 30, 2025
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, 2025 and 2024 (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

General and administrative

 

$

5,721

 

 

$

6,679

 

 

$

11,166

 

 

$

11,771

 

Research and development

 

 

4,166

 

 

 

3,854

 

 

 

8,095

 

 

 

6,989

 

Total equity-based compensation

 

$

9,887

 

 

$

10,533

 

 

$

19,261

 

 

$

18,760