Cullinan Therapeutics (Cullinan Therapeutics) Beneish M-Score

: 0.00 (As of Today)

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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Cullinan Therapeutics's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Cullinan Therapeutics was 0.00. The lowest was 0.00. And the median was 0.00.

Cullinan Therapeutics Beneish M-Score Historical Data

The historical data trend for Cullinan Therapeutics's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cullinan Therapeutics Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Cullinan Therapeutics Quarterly Data
	Dec18	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score															-	-	-	-	-

Competitive Comparison

For the Biotechnology subindustry, Cullinan Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Cullinan Therapeutics Beneish M-Score Distribution

For the Biotechnology industry and Healthcare sector, Cullinan Therapeutics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cullinan Therapeutics's Beneish M-Score falls into.

Cullinan Therapeutics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Cullinan Therapeutics for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $480.19 Mil.
Total Assets was $484.18 Mil.
Property, Plant and Equipment(Net PPE) was $3.53 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.31 Mil.
Selling, General, & Admin. Expense(SGA) was $42.49 Mil.
Total Current Liabilities was $28.14 Mil.
Long-Term Debt & Capital Lease Obligation was $2.15 Mil.
Net Income was -23.803 + -39.183 + -32.214 + -57.962 = $-153.16 Mil.
Non Operating Income was -0.117 + -0.26 + 0.069 + 0.107 = $-0.20 Mil.
Cash Flow from Operations was -18.131 + -34.141 + -31.006 + -50.997 = $-134.28 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $474.47 Mil.
Total Assets was $561.12 Mil.
Property, Plant and Equipment(Net PPE) was $5.30 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $40.19 Mil.
Total Current Liabilities was $22.50 Mil.
Long-Term Debt & Capital Lease Obligation was $3.59 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (480.191 + 3.532) / 484.182)	/	(1 - (474.472 + 5.304) / 561.117)
	=	0.000948	/	0.144963
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.093 / (0.093 + 5.304))	/	(0.31 / (0.31 + 3.532))
	=	0.017232	/	0.080687
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(42.493 / 0)	/	(40.189 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((2.15 + 28.137) / 484.182)	/	((3.59 + 22.498) / 561.117)
	=	0.062553	/	0.046493
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-153.162 - -0.201	-	-134.275)	/	484.182
	=	-0.038593

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Cullinan Therapeutics Beneish M-Score Related Terms

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Cullinan Therapeutics (Cullinan Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Cullinan Therapeutics Inc (NAS:CGEM) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Main Street, Suite 520, Cambridge, MA, USA, 02142

Website

https://www.cullinanoncology.com

Cullinan Oncology Inc is a biopharmaceutical company. It is focused on developing a diversified pipeline of targeted oncology and immuno-oncology therapies with transformative potential for cancer patients.

Executives

Nadim Ahmed	director, officer: President and CEO	C/O CELGENE CORPORATION, 86 MORRIS AVENUE, SUMMIT NJ 07901
Jacquelyn L Sumer	officer: Chief Legal Officer	C/O GENOCEA BIOSCIENCES, INC., 100 ACORN PARK DRIVE 5TH FLOOR, CAMBRIDGE MA 02140
Jeffrey Alan Jones	officer: Chief Medical Officer	ONE MAIN STREET, SUITE 520, CAMBRIDGE MA 02142
Jennifer Michaelson	officer: See Remarks	C/O CULLINAN MANAGEMENT, INC., ONE MAIN STREET SUITE 520, CAMBRIDGE MA 02142
Jeffrey Trigilio	officer: Chief Financial Officer	C/O CULLINAN MANAGEMENT, INC., ONE MAIN STREET, SUTIE 520, CAMBRIDGE MA 02142
David P. Ryan	director	C/O CULLINAN ONCOLOGY, INC., ONE MAIN STREET, SUITE 520, CAMBRIDGE MA 02142
Vision Scs F2	10 percent owner	74 GRAND RUE, LUXEMBURG N4 L-1660
Savill Corrine	officer: Acting Chief Business Officer	C/O CULLINAN ONCOLOGY, LLC, ONE MAIN STREET SUITE 520, CAMBRIDGE MA 02142
F2 Bioscience I 2017 Ltd	10 percent owner	8, RUE SAINT-LEGER, GENEVA V8 CH 1205
Biotechnology Value Fund L P	other: See Explanation of Responses	44 MONTGOMERY STREET, 40TH FL, SAN FRANCISCO CA 94104
Anne-marie Martin	director	ONE MAIN STREET, SUITE 520, CAMBRIDGE MA 02142
Mark N Lampert	10 percent owner	1 SANSOME ST, 30TH FL, SAN FRANCISCO CA 94104
Biotechnology Value Trading Fund Os Lp	other: See Explanation of Responses	P.O. BOX 309 UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104
Bvf Partners Os Ltd.	other: See Explanation of Responses	P.O. BOX 309 UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104
Biotechnology Value Fund Ii Lp	other: See Explanation of Responses	44 MONTGOMERY STREET, 40TH FL, SAN FRANCISCO CA 94104