7Baggers

Cullinan Oncology, Inc
(NASDAQ:CGEM) 

CGEM stock logo

Cullinan Management, Inc., a biopharmaceutical company, focuses on developing a pipeline of targeted oncology and immuno-oncology therapies for cancer patients in the United States. The company's lead candidate is the CLN-081, an orally available small molecule that is in a Phase I/IIa dose escalati...

Founded: 2016
CEO: Owen Hughes  
Sector: Pharmaceuticals
Industry:
PharmaceuticalsOncology
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2011-12-31 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2014-12-31 2014-09-30 2014-06-30 2013-12-31 2013-09-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 2011-03-31 2010-12-31 2010-09-30 
                          
        assets
      		                    
        current assets:
      		                    
        cash
      		91 470 610 36,393 118 35 2,172 2,352 2,375 2,270 875 1,376 251 3,089 1,681 576 3,911 309 1,410 3,850 
        receivables
      		3,344 3  2,544  364 1,510 3 1,233 5,422 55,951          
        total current assets
      		3,435 473 1,110 127,966 118 2,299 6,342 2,355 4,814 12,744 57,038 6,706 9,549 17,991 23,417 5,669 20,341 5,052 2,591 6,141 
        total assets
      		3,435 473 1,110 127,966 118 2,299 16,342 12,355 14,814 22,744 67,038 6,706 9,549 17,991 23,417 5,669 20,341 5,052 2,591 6,141 
        liabilities and stockholders’
      		                    
        current liabilities:
      		                    
        accounts payable and accrued expenses
      		247,877 217,225 211,135 155,574 156,742 115,977 85,432 56,933 50,510 54,658 34,575 35,685 65,104 41,852 66,962 36,516 9,480 41,760 30,849 10,463 
        total current liabilities
      		247,877 217,225 211,135 1,067,376 156,742 115,977 85,432 56,933 50,510 54,658 34,575 35,685 65,104 41,852 66,962 36,516 9,480 41,760 30,849 10,463 
        non-current liabilities:
      		                    
        advances from affiliate
      		330,408 285,574 272,024 382,759 1,088,175 1,088,275 1,066,199 1,027,446 1,022,696 972,838 946,915 314,125 257,136 220,467 156,837 137,093 81,804 1,541,938   
        total non-current liabilities
      		330,408 285,574 272,024 382,759 1,088,175 1,088,275 1,066,199 1,027,446 1,022,696 972,838 946,915  257,136        
        total liabilities
      		578,285 502,799 483,159 1,450,135 1,244,917 1,204,252 1,151,631 1,084,379 1,073,206 1,027,496 981,490 349,810 322,240 262,319 223,799 173,609 91,284 1,583,698 1,532,628 1,415,462 
        stockholders’
      		                    
        preferred stock: us.0001 par value...
      		                    
        common stock: us.0001 par value 500,000,000 shares authorised, and 199,873,683 and 175,315,350 issued and outstanding at december 31, 2016 and 2015
      		20,077                    
        additional paid-in-capital
      		2,557,723    1,574,323  1,574,323   1,574,323   1,640,432      21,120  
        accumulated
      		 -3,080,126 -3,059,849 -2,913,317  -2,793,101   -2,649,540        -160,470 -48,609 -1,568,437 -1,447,721 
        total stockholders’
      		  -482,049 -1,322,169  -1,201,953   -1,058,392  -914,452 -343,104 -312,691 -244,328 -200,382 -167,940 -70,943 -1,578,646 -1,530,037  
        total liabilities and stockholders’
      		3,435  1,110 127,966 118 2,299 16,342 12,355 14,814 22,744 67,038 6,706 9,549 17,991 23,417 5,669 20,341 5,052 2,591  
        see notes to financial statements
      		                    
        revenues
      		                    
        costs and expenses
      		                    
        legal, accounting and professional
      		103,905 15,335 12,993    60,365 10,171 9,431 60,513 8,230 10,637 54,719 10,417 7,092 9,378 10,310 11,283 71,188  
        administration expenses
      		93,492      57,796   64,132           
        acquisition related expenses
      		116,946  116,946                  
        (loss) from operations
      		 -21,650 -145,230      -23,234  -12,124 -24,860 -175,567 -39,004 -35,155 -32,754 -48,811 -26,242 -895,774  
        foreign currency exchange
      		  -1,302         -5,553 -3,714   -1,776  -22,367 -174,316  
        (loss) before income tax
      		 -20,277 -146,532      -24,979  -7,966 -30,413 -179,281 -43,946 -32,442 -34,530 -43,020 -48,609 -1,070,081  
        benefit from income tax
      		                    
        net
      		 -20,277 -146,532      -24,979  -7,966 -30,413 -179,281 -43,946 -32,442 -34,530 -43,020 -48,609 -1,070,081  
        basic net (loss) per common equivalent shares
      		                  -0.01  
        weighted number of common equivalent shares
      		192,451 199,874 194,328    175,315 175,315 175,315 175,315 175,315 175,315 175,315 175,315 175,315 175,315 175,315  172,800  
        non-current assets:
      		                    
        deposits
      		      10,000 10,000 10,000 10,000 10,000          
        total non-current assets
      		      10,000 10,000  10,000           
        liabilities and stockholders'
      		                    
        stockholders'
      		                    
        common stock: us.0001 par value 500,000,000 shares authorised, and 199,873,683 and 175,315,350 shares issued and outstanding at september 30, 2016 and december 31, 2015
      		 20,077                   
        additional paid-in capital
      		 2,557,723 2,557,723 1,574,323  1,574,323  1,574,323 1,574,323  1,574,323 1,640,432  1,640,432 1,640,432 1,640,432 1,640,432 21,120  21,120 
        total stockholders'
      		 -502,326                   
        total liabilities and stockholders'
      		 473                   
        cost and expenses
      		                    
        administration expense
      		 6,315 15,291     3,460 9,896  3,894 14,223 120,848 28,587 28,063 23,376 38,501 14,959 61,308  
        foreign currency exchange gain
      		 1,373                   
        prepayments
      		  500 89,029  1,900 2,660  1,206 5,052 212 5,330 9,298 14,902 21,736 5,093 16,430 4,743 1,181 2,291 
        common stock: us.0001 par value 500,000,000 shares authorised, and 199,873,683 and 175,315,350 shares issued and outstanding at june 30, 2016 and december 31, 2015
      		  20,077                  
        advances from other
      		   911,802                 
        common stock: us.0001 par value 500,000,000 shares authorised, and 175,315,350 shares issued and outstanding
      		   16,825  16,825  16,825 16,825  16,825          
        foreign currency exchange gain/
      		        -1,745  4,158   -4,942 2,713  5,791    
        common stock: us.0001 par value 500,000,000 shares authorised, and 175,315,350 issued and outstanding
      		    16,825  16,825   16,825           
        a
      		                    
        exploration expenses
      		      10,633   574,389           
        95,438
      		                    
        interest - other
      		         1         9  
        exploration expenditure
      		        3,907            
        non-current assets
      		                    
        accumulated (deficit) during development stage
      		          -1,505,228 -1,568,437 -1,568,437 -1,568,437 -1,568,437 -1,568,437 -1,568,437 -1,568,437   
        accumulated (deficit) prior to exploration stage
      		          -410,179          
        retained (deficit) during exploration stage
      		                    
        accumulated (deficit) during exploration stage
      		          -590,193          
        non current liabilities:
      		                    
        total non current liabilities
      		           314,125  220,467 156,837 137,093 81,804 1,541,938 1,501,779 1,404,999 
        common stock: .0001 par value 500,000,000 shares authorised, and 175,315,350 shares issued and outstanding
      		           17,532  17,532 17,532 17,532     
        accumulated (deficit) subsequent to development stage
      		           -432,631 -402,218 -333,855 -289,909 -257,467     
        common stock: .0001 par value 500,000,000 shares authorised, and 175,315,350 issued and outstanding
      		            17,532        
        other income - interest
      		                    
        common stock: .0001 par value 500,000,000 shares authorised, and 175,315,350 and 172,800,000 shares issued and outstanding
      		                17,532    
        common stock: .0001 par value 500,000,000 shares authorised, and 172,800,000 shares issued and outstanding
      		                 17,280 17,280 17,280 
        weighted number of common equivalent
      		                    
        shares
      		                 172,800   
        advances from axis
      		                  1,501,779  
        contractors & consultants
      		                  763,278  
        liabilities and stockholders’ equity
      		                    
        advances payable – affiliate
      		                   1,404,999 
        stockholders’ equity
      		                    
        total stockholders’ equity
      		                   -1,409,321 
        total liabilities and stockholders’ equity
      		                   6,141 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 2011-03-31 2010-12-31 
                             
          cash flows from operating activities
        		                     
          net
        		-72,524 -20,277 -146,532 -77,370 -42,846 -26,763       -114,470         
          adjustments to reconcile net
        		                     
          in operating activities
        		                     
          foreign currency exchange loss
        		    -3,280 6,590        5,553    1,776    
          net change receivables
        		                     
          net change in prepayments
        		   -89,029 1,900 2,920 -2,499 339 -2,660 1,206 1,893 1,953 -1,032 3,968    6,262    
          net change in accounts payable and accrued expenses
        		27,721 7,463 54,760 -1,168 44,045 2,113 1,811 9,269 28,499   18,641 -8,150  23,253 -25,111 30,446 634  10,911  
          net cash (used) in operating activities
        		-45,212 -13,690 -399 -169,610 183 -14,701       -71,896         
          cash flows from financing activities
        		                     
          issuance of common stock
        		0 0                    
          advances from (repayment to) affiliate
        		                     
          net cash from financing activities
        		44,833 13,550 -35,885 206,386 -100 11,323 8,152 2,601 38,753 4,750 44,794 5,064 80,616 51,613 37,887 58,886 22,293 25,588 139,091   
          effects of exchange rate on cash
        		   -501        432 -6,245         
          net (decrease) in cash
        		                     
          cash at beginning of year
        		                     
          cash at end of year
        		                     
          see notes to financial statements
        		                     
          organization and business
        		                     
          adjustments to reconcile net (loss) to net cash (used) in operating activities
        		                     
          foreign currency exchange (gain) loss
        		                     
          net change in receivables and deposits
        		   -2,544  439      4,801 50,529         
          advances from (repayments to) affiliate
        		 13,550 -110,735 -705,416                  
          net increase/(decrease) in cash
        		             1,125        
          cash at beginning of period
        		 0 0 118  0 0 2,172  0 0 2,270  251  0 0 940 1,410 1,410 0 
          cash at end of period
        		 -140 -35,783 36,393  -3,378 1,421 1,992  -23 -1,693 4,068  1,376  1,408 1,105 576 3,911 309 -2,440 
          net change in receivables
        		         1,230            
          net increase in cash
        		  -35,783 36,275     -180 -23 -1,693 1,798 2,475   1,408   2,501  -2,440 
          1)
        		                     
          foreign currency exchange (gain)/loss
        		   501    109  1            
          advances from other
        		   911,802                  
          1.
        		                     
          net change receivables and deposits
        		                     
          advances from affiliate
        		    -100 11,323 8,152 2,601 38,753 4,750 44,794 5,064 80,616 51,613  58,886 22,293 25,588 139,091   
          net increase (decease) in cash
        		                     
          recent accounting pronouncements
        		                     
          cash equivalents
        		                     
          not later than one year
        		                     
          later than one year but not later than five years
        		                     
          later than five years
        		                     
          adjustments to reconcile net (loss) to net cash from operating activities
        		                     
          net cash from operating activities
        		                     
          capital expenditures
        		                     
          free cash flows
        		                     
          advances from – affiliate
        		                     
          supplemental disclosures
        		                     
          non cash financing activity
        		                     
          satisfaction of debt to affiliate through issuance of shares
        		                  1,509,210   
          forgiveness of debt to affiliate
        		                  110,354   
          in order to take advantage of management’s substantial experience in the location and development of mineral exploration properties, the company plans to look for opportunities in the resources industry and has identified silver and base metal exploration in central america and gem opportunities in australia for its potential business opportunities.
        		                     
          accounting policies
        		                     
          (a) basis of presentation
        		                     
          the preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires management to make estimates and assumptions that affect certain reported amounts and disclosures. accordingly, actual results could differ from those estimates.
        		                     
          the functional and reporting currency of the company is the u.s. dollar.
        		                     
          net (decrease)/increase in cash
        		                     
          foreign currency exchange gain/
        		                  60,758   
          a)
        		                     
          b)
        		                     
          advances from - affiliate
        		                   40,159  
          adjustments to reconcile net (loss) to net cash used
        		                     
          proceeds from issuance of stock
        		                     
          advances payable - affiliate