Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Summary of Calculation of Basic and Diluted Net Loss Per Share

The following table sets forth the calculation of basic and diluted earnings (net loss) per share:

	Three Months Ended June 30,					Six Months Ended June 30,
	2022		2021			2022		2021
	(in thousands, except per share data)
Numerator:
Net income (loss) attributable to common stockholders of Cullinan	$	174,898	$	(15,636	)	$	162,800	$	(15,706	)
Denominator:
Weighted-average common stock outstanding - basic		44,873		43,295			44,654		42,713
Dilutive effect of common stock issuable from assumed exercise of equity awards		1,508		—			1,735		—
Weighted-average common stock outstanding - diluted		46,381		43,295			46,389		42,713
Earnings (net loss) per share:
Basic	$	3.90	$	(0.36	)	$	3.65	$	(0.37	)
Diluted	$	3.77	$	(0.36	)	$	3.51	$	(0.37	)

Summary of Outstanding Equity Instruments Excluded from Computation of Diluted Net Income (Loss) Per Share

The following table sets forth potential common shares that were excluded from the computation of the diluted net income (loss) per share for the periods presented because their effect would have been anti-dilutive:

	As of June 30,
	2022		2021
	(in thousands)
Restricted stock units		—		180
Stock options		6,250		6,951
Total		6,250		7,131