Is CGEM diluting shareholders?

Read three numbers together: shares outstanding over time (64.4M as of 2026-07-31), warrants that can convert into new shares, and how much cash runway remains (~22.841854907539116 months). A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

Cullinan Therapeutics, Inc. (CGEM)

CIK 1789972 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

not every sub-rating was computable; treat as a floor

Offering ability

HIGH$200M registered

= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)

one or more live registrations had no structured fee data, so the true total is AT LEAST this

Overhead supply

NOT COMPUTEDno warrant count tagged in XBRL

= warrant shares outstanding divided by current shares outstanding

absence of a tag is not proof of absence of warrants

Historical dilution

MEDIUM+51% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

MEDIUM~22.8 months of runway

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 64.4M shares as of Jul 31, 2026 (10-Q).

Cash runway

Funded — but tight

~23 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Aug 6, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Registrations and offerings

Registered offering capacity on live registrations: $200.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRApr 28, 2026$200.0M registeredfiling →

S-3May 16, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 0 executed · 1 registered.

REGISTEREDApr 28, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR →

UPDATEJun 4, 2024Prospectus update — often a resale registration, not necessarily new capital424B3 →

EFFECTIVEJun 4, 2024SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDMay 16, 2024S-3 registration — capacity to sell shares, not a sale yetS-3 →

EXECUTEDApr 16, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EFFECTIVEMay 18, 2023SEC declared a registration effective — selling can beginEFFECT →

REGISTEREDMay 11, 2023S-3/A registration — capacity to sell shares, not a sale yetS-3/A →

REGISTEREDMar 9, 2023S-3 registration — capacity to sell shares, not a sale yetS-3 →

EXECUTEDJan 19, 2023Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDJan 11, 2021Final prospectus — offering priced (typical for IPOs and marketed share deals)424B4 →

REGISTEREDJan 7, 2021S-1MEF registration — capacity to sell shares, not a sale yetS-1MEF →

EFFECTIVEJan 7, 2021SEC declared a registration effective — selling can beginEFFECT →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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