[Form 4] Cullinan Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cullinan Therapeutics (CGEM): Reporting persons associated with Lynx1 Capital Management disclosed an open‑market purchase of 165,667 shares of common stock on 10/28/2025 at a weighted average price of $8.4005, executed across multiple trades ranging from $8.035 to $8.50.

Following the transaction, they report 8,963,500 shares beneficially owned on an indirect basis through Lynx1 Master Fund LP. The filing notes a standard disclaimer of beneficial ownership except to the extent of pecuniary interest.

Insights

Equity ownership & insider transactions analyst

Neutral Form 4: sizable open‑market buy disclosed.

The filing reports an open‑market purchase of 165,667 CGEM shares at a weighted average of $8.4005 on 10/28/2025, with trades spanning $8.035 to $8.50. After this activity, the group reports 8,963,500 shares beneficially owned on an indirect basis via Lynx1 Master Fund LP.

This is an ownership update rather than an operational change. The filing includes a standard disclaimer that the investment manager and individual disclaim beneficial ownership except for pecuniary interest. Actual market impact depends on future disclosures and holder decisions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lynx1 Capital Management LP

(Last) (First) (Middle)

D81 CALLE C

SUITE 301 PMB 1202

(Street)

DORADO PR 00646-2051

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cullinan Therapeutics, Inc. [ CGEM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, $0.0001 par value per share	10/28/2025		P		165,667	A	$8.4005(1)	8,963,500	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Lynx1 Capital Management LP

(Last) (First) (Middle)

D81 CALLE C

SUITE 301 PMB 1202

(Street)

DORADO PR 00646-2051

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Nichols Weston

(Last) (First) (Middle)

D81 CALLE C

SUITE 301 PMB 1202

(Street)

DORADO PR 00646-2051

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.035 to $8.50 inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.

2. The securities to which this filing relates are held directly by Lynx1 Master Fund LP to which Lynx1 Capital Management LP (the "Investment Manager") serves as investment manager. Weston Nichols ("Mr. Nichols") is the sole member of Lynx1 Capital Management GP LLC, the general partner of the Investment Manager. Each of the Investment Manager and Mr. Nichols disclaims beneficial ownership of the securities to which this filing relates for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except to the extent of his or its pecuniary interest therein, if any.

	Lynx1 Capital Management LP, By: Lynx1 Capital Management GP LLC, its general partner, By: /s/ Weston Nichols, Sole Member	10/30/2025
	/s/ Weston Nichols	10/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Cullinan Therapeutics (CGEM) insiders report in this Form 4?

They disclosed an open‑market purchase of 165,667 CGEM shares on 10/28/2025 at a weighted average price of $8.4005.

What price range were the CGEM shares purchased at?

Trades occurred between $8.035 and $8.50, per the weighted‑average pricing footnote.

How many CGEM shares are beneficially owned after the transaction?

The filing reports 8,963,500 shares beneficially owned following the transaction.

How is the ownership of CGEM shares held according to the filing?

Shares are held indirectly through Lynx1 Master Fund LP, with Lynx1 Capital Management LP as investment manager.

Do the reporting persons claim full beneficial ownership of CGEM shares?

They disclaim beneficial ownership except to the extent of their pecuniary interest, as stated in the footnote.

Was the CGEM purchase a single trade or multiple trades?

It was executed in multiple transactions, reflected as a weighted average price of $8.4005.