Crescent Biopharma, Inc. (CBIO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CBIO SEC filings page.
Crescent Biopharma, Inc. (CBIO) reported $10.8M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development-stage spending and external financing, rather than commercial revenue, dominate Crescent Biopharma's financial mechanics.
In FY2025, research and development reached$138.1M against revenue of$10.8M , while operating cash flow was-$71.5M ; the company is funding development before current sales can support it. The close alignment between operating cash flow and free cash flow of-$72.5M shows that the cash shortfall primarily comes from operations, not unusually heavy capital investment.
Total assets increased from
FY2025's current ratio was 6.6x and debt-to-equity was 0.2x, describing substantial current-asset coverage and limited debt leverage. The reported liquidity comparison measured 35.8 months of the latest annual operating outflow, making financing activity a central part of the company's financial structure.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Crescent Biopharma, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Crescent Biopharma, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 9/100.
Crescent Biopharma, Inc. carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 76/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 6.56, Crescent Biopharma, Inc. holds $6.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
Crescent Biopharma, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
Crescent Biopharma, Inc. generates a 0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100.
Crescent Biopharma, Inc. scores 9.55, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($721.0M) relative to total liabilities ($37.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Crescent Biopharma, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass.
Crescent Biopharma, Inc. reported $154K of net income while operations used $71.5M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Crescent Biopharma, Inc. reported an operating loss of $152.6M against $2.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Crescent Biopharma, Inc. generated $0 in revenue in Q2 2026. Against the prior quarter it is down 100.0%.
Crescent Biopharma, Inc.'s EBITDA was -$26.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.1% from the same quarter a year earlier. Against the prior quarter it is down 6.6%.
Crescent Biopharma, Inc. reported -$24.8M in net income in Q2 2026. This represents a decrease of 14.0% from the same quarter a year earlier. Against the prior quarter it is down 6.7%.
Not reported for Q2 2026.
Cash & Balance Sheet
Crescent Biopharma, Inc. recorded an outflow of $19.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 17.7% from the same quarter a year earlier. Against the prior quarter it is down 114.4%.
Crescent Biopharma, Inc. held $171.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Crescent Biopharma, Inc.'s ROE was -15.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Crescent Biopharma, Inc. invested $19.4M in research and development in Q2 2026. This represents an increase of 60.5% from the same quarter a year earlier. Against the prior quarter it is up 8.3%.
Crescent Biopharma, Inc. invested $13K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 90.7% from the same quarter a year earlier. Against the prior quarter it is down 91.2%.
Not reported for Q2 2026.
CBIO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $1.0M | N/A | N/A | $0 | $0 | $0 | N/A |
| R&D Expenses | $19.4M+60.5% | $17.9M+68.5% | N/A | $20.3M+1086.2% | $12.1M+92.2% | $10.6M+76.4% | $14.0M | $1.7M-67.6% |
| SG&A Expenses | $8.7M-2.3% | $7.9M+118.7% | N/A | $5.5M+38.2% | $8.9M+119.8% | $3.6M-29.3% | $3.2M | $4.0M-11.4% |
| Operating Income | -$26.4M-25.4% | -$24.7M-73.9% | N/A | -$25.9M-130.4% | -$21.0M-103.0% | -$14.2M-28.0% | -$17.2M | -$11.2M-14.5% |
| EBITDA | -$26.3M-25.1% | -$24.7M-73.4% | N/A | -$25.9M-130.3% | -$21.0M-103.3% | -$14.2M-28.1% | -$17.2M | -$11.2M-14.9% |
| Interest Expense | $0-100.0% | $0-100.0% | N/A | $0 | $1.1M | $1.1M | $852K | N/A |
| Income Tax | $0 | $0 | N/A | $0 | $0 | $0 | $0 | N/A |
| Net Income | -$24.8M-14.0% | -$23.3M-53.7% | -$23.3M-30.4% | -$24.6M-150.5% | -$21.8M-115.8% | -$15.1M-41.1% | -$17.9M | -$9.8M-6.8% |
| EPS (Basic) | N/A | N/A | N/A | N/A | N/A | -$0.04+76.5% | -$0.11+21.4% | -$0.15-7.1% |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | -$0.11+21.4% | -$0.15-7.1% |
| Diluted Shares (Avg) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 64M+0.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
CBIO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $182.8M+16.1% | $199.1M+3223.2% | $240.3M+574.7% | $138.3M+780.8% | $157.4M+544.7% | $6.0M-82.5% | $35.6M-21.4% | $15.7M-70.5% |
| Current Assets | $179.0M+16.1% | $195.6M+3163.6% | $236.7M+580.0% | $134.6M+760.1% | $154.2M+546.5% | $6.0M-82.0% | $34.8M-20.5% | $15.6M-69.9% |
| Cash & Equivalents | $171.6M+12.4% | $189.2M | $213.2M+513.2% | $133.3M+826.0% | $152.6M+581.9% | N/A | $34.8M-16.8% | $14.4M-70.9% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | N/A | $0 | $0 |
| Accounts Receivable | $0 | $0 | $18.0M | N/A | N/A | N/A | $0 | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | N/A | $0 | $0 |
| Total Liabilities | $19.5M+7.3% | $15.3M-57.7% | $37.3M-20.8% | $21.6M+27.2% | $18.2M+317.3% | $36.2M+582.9% | $47.1M+582.3% | $17.0M+155.5% |
| Current Liabilities | $18.5M+10.7% | $14.2M+442.4% | $36.1M+275.2% | $20.3M+369.8% | $16.7M+284.4% | $2.6M-50.6% | $9.6M+40.7% | $4.3M-32.4% |
| Non-Current Liabilities | $966K-32.6% | $1.1M-96.7% | $1.2M-96.8% | $1.3M-89.6% | $1.4M | $33.5M | $37.5M+55973.8% | $12.7M+4736.6% |
| Total Equity | $163.3M+17.2% | $183.8M+709.6% | $203.0M+1411.5% | $116.6M+9058.6% | $139.3M+594.1% | -$30.2M-204.3% | -$15.5M-140.3% | -$1.3M-102.8% |
| Retained Earnings | -$219.9M-301.3% | -$195.1M+60.7% | -$171.8M-861.6% | -$79.4M+83.7% | -$54.8M+88.5% | -$496.7M-6.3% | -$17.9M+96.1% | -$487.1M-8.9% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
CBIO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$19.5M-18.7% | -$8.9M+17.6% | -$26.7M-326.5% | -$17.5M-119.4% | -$16.4M-84.4% | -$10.9M-3.3% | -$6.3M+17.7% | -$8.0M+7.9% |
| Depreciation & Amortization | $66K+3200.0% | $64K | $54K | $28K+244.4% | $2K-83.9% | $0-100.0% | $0-100.0% | $8K-81.0% |
| Stock-Based Compensation | $4.0M-25.7% | $4.1M+234.7% | N/A | $2.0M+74.4% | $5.3M+342.3% | $1.2M+3.1% | $1.1M | $1.1M+28.2% |
| Capital Expenditures | $13K-90.7% | $147K | $193K | $586K | $140K+5427.0% | $0-100.0% | $0-100.0% | $0-100.0% |
| Free Cash Flow | -$19.5M-17.7% | -$9.1M+16.3% | -$26.9M-329.6% | -$18.1M-126.7% | -$16.5M-86.0% | -$10.9M-3.2% | -$6.3M+17.7% | -$8.0M+8.0% |
| Investing Cash Flow | $1.8M+1355.0% | -$8.1M | -$72.2M | -$586K | -$140K-5427.0% | $0+100.0% | $0+100.0% | $0+100.0% |
| Financing Cash Flow | $136K-99.9% | -$6.9M-367.4% | $178.9M+335.9% | -$1.3M | $146.9M+29372700.0% | -$1.5M-30438.9% | $41.0M+4107507.6% | $0-100.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CBIO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | -2380.1% | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | -2240.9% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -15.2%+0.4pp | -12.7% | -11.5% | -21.1% | -15.7%+34.7pp | N/A | N/A | N/A |
| Return on Assets | -13.6%+0.3pp | -11.7%+241.1pp | -9.7%+40.5pp | -17.8%+44.8pp | -13.8%+27.5pp | -252.8%-221.4pp | -50.2% | -62.6%-45.3pp |
| Current Ratio | 9.66+0.4x | 13.78+11.5x | 6.56+2.9x | 6.63+3.0x | 9.21+3.7x | 2.29-4.0x | 3.62-2.8x | 3.62-4.5x |
| Debt-to-Equity | 0.120.0x | 0.08 | 0.18 | 0.19 | 0.13-0.1x | N/A | N/A | N/A |
| Asset Turnover | 0.000.0x | 0.010.0x | N/A | N/A | 0.00 | 0.00 | 0.00 | N/A |
| FCF Margin | N/A | -874.3% | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Crescent Biopharma, Inc. CBIO | FY2025 | $10.8M | $154K | 1.4% | $721.0M | 51/100 |
| NeOnc Technologies Holdings, Inc. NTHI | FY2025 | $40K | N/A | N/A | $106.0M | — |
| Kyverna Therapeutics, Inc. KYTX | FY2025 | N/A | -$161.3M | N/A | $449.0M | — |
| Nuvectis Pharma, Inc. NVCT | FY2025 | N/A | -$26.4M | N/A | $783.1M | — |
| Innate Pharma S.A. ADS IPHA | FY2025 | $50.0M | N/A | N/A | $208.9M | — |
| Caribou Biosciences, Inc. CRBU | FY2025 | $11.2M | -$148.1M | N/A | $136.2M | 52/100 |
Where Crescent Biopharma, Inc. Ranks
Frequently Asked Questions
What is Crescent Biopharma, Inc.'s annual revenue?
Crescent Biopharma, Inc. (CBIO) reported $10.8M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Crescent Biopharma, Inc. profitable?
Yes, Crescent Biopharma, Inc. (CBIO) reported a net income of $154K in fiscal year 2025, with a net profit margin of 1.4%.
What is Crescent Biopharma, Inc.'s EBITDA?
Crescent Biopharma, Inc. (CBIO) had EBITDA of -$152.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Crescent Biopharma, Inc.'s net profit margin?
Crescent Biopharma, Inc. (CBIO) had a net profit margin of 1.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Crescent Biopharma, Inc.'s return on equity (ROE)?
Crescent Biopharma, Inc. (CBIO) has a return on equity of 0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Crescent Biopharma, Inc.'s free cash flow?
Crescent Biopharma, Inc. (CBIO) recorded an outflow of $72.5M in free cash flow during fiscal year 2025. This represents a -132.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Crescent Biopharma, Inc.'s operating cash flow?
Crescent Biopharma, Inc. (CBIO) recorded an outflow of $71.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Crescent Biopharma, Inc.'s total assets?
Crescent Biopharma, Inc. (CBIO) had $240.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Crescent Biopharma, Inc.'s capital expenditures?
Crescent Biopharma, Inc. (CBIO) invested $919K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Crescent Biopharma, Inc. spend on research and development?
Crescent Biopharma, Inc. (CBIO) invested $138.1M in research and development during fiscal year 2025.
What is Crescent Biopharma, Inc.'s current ratio?
Crescent Biopharma, Inc. (CBIO) had a current ratio of 6.56 as of fiscal year 2025, which is generally considered healthy.
What is Crescent Biopharma, Inc.'s debt-to-equity ratio?
Crescent Biopharma, Inc. (CBIO) had a debt-to-equity ratio of 0.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Crescent Biopharma, Inc.'s return on assets (ROA)?
Crescent Biopharma, Inc. (CBIO) had a return on assets of 0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Crescent Biopharma, Inc.'s P/E ratio?
Crescent Biopharma, Inc. (CBIO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $721.0M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Crescent Biopharma, Inc.'s price-to-sales ratio?
Crescent Biopharma, Inc. (CBIO) trades at 66.5x sales, its market capitalization divided by revenue of $10.8M revenue, FY2025. The market capitalization is $721.0M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Crescent Biopharma, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Crescent Biopharma, Inc. (CBIO) held $213.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $71.5M over that year. Dividing the one by the other, the reported balance equals about 36 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Crescent Biopharma, Inc.'s Altman Z-Score?
Crescent Biopharma, Inc. (CBIO) has an Altman Z-Score of 9.55, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Crescent Biopharma, Inc.'s Piotroski F-Score?
Crescent Biopharma, Inc. (CBIO) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Crescent Biopharma, Inc.'s earnings high quality?
Crescent Biopharma, Inc. (CBIO) reported $154K of net income while operations used $71.5M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Crescent Biopharma, Inc. cover its interest payments?
Crescent Biopharma, Inc. (CBIO) reported an operating loss of $152.6M against $2.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Crescent Biopharma, Inc.?
Crescent Biopharma, Inc. (CBIO) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.