Crescent Biopharma Announces Grants of Inducement Awards

Rhea-AI Summary

Crescent Biopharma (Nasdaq: CBIO) announced inducement option awards to three non-executive employees under its 2025 Employment Inducement Incentive Award Plan.

The Board approved an aggregate of 129,626 options on December 13, 2025, and the options were granted on December 15, 2025. Each option has a 10-year term and an exercise price of $13.21, equal to the Nasdaq closing price on December 15, 2025. Vesting is 25% after the first anniversary of each employee’s start date, then monthly at 1/48th thereafter, subject to continuous service and the Inducement Plan terms.

Key Figures

Options granted 129,626 shares Aggregate options to three non-executive employees under Inducement Plan

Exercise price $13.21 Option strike price, equal to Nasdaq closing price on Dec 15, 2025

Option term 10 years Duration of inducement stock options granted on Dec 15, 2025

Initial vesting 1/4 of shares Vests on first anniversary of each employee’s start date

Ongoing vesting 1/48 monthly Remaining options vest monthly thereafter, subject to continuous service

Market Reality Check

$12.45 Last Close

Volume Volume 151,622 is below the 20-day average of 218,103 (relative volume 0.7x). normal

Technical Shares at $12.49 were trading above the 200-day MA of $9.61, but at the 52-week low.

Peers on Argus

CBIO was down 3.33% with several biotech peers also weaker: NTHI -18.01%, CRBU -4.14%, NVCT -1.17%, while KYTX was flat and IPHA -0.55%. No momentum scanner signals or same-day peer news suggest this move was more stock-specific than a broad sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Partnership & financing	Positive	-4.2%	Strategic Kelun partnership and $185M private placement to extend cash runway.
Dec 04	Partnership terms detail	Positive	-4.2%	Detailed economics of CR-001 and SKB105 oncology collaboration with Kelun.
Nov 17	Inducement option grants	Neutral	-0.5%	Inducement awards of 451,448 options for eight new non-executive employees.
Nov 06	Earnings & pipeline	Positive	+5.4%	Q3 2025 results with strong cash balance and clear IND and PoC timelines.
Nov 05	Investor conferences	Neutral	-0.1%	Announcement of management participation in three November investor conferences.

Pattern Detected

Large strategic and financing announcements saw mixed or negative next-day moves, while earnings with pipeline updates saw a positive reaction.

Recent Company History

Over the last months, Crescent reported Q3 2025 results on Nov 6, 2025 with cash of $133.3M and pipeline progress for CR-001 and CR-002, which coincided with a 5.39% gain. A major partnership and $185M private placement with Kelun-Biotech on Dec 4, 2025 led to a 4.21% decline, showing the stock can trade down on seemingly positive financing and collaboration news. Multiple prior inducement grants and conference appearances had relatively muted price effects, framing today’s inducement awards as part of an ongoing hiring and equity compensation pattern.

Market Pulse Summary

This announcement details inducement option awards for three new employees, totaling 129,626 shares with a 10-year term and an exercise price of $13.21, matching the Nasdaq close on December 15, 2025. The structure mirrors prior grants under the same Inducement Plan, with 1/4 vesting after one year and 1/48 monthly thereafter. In context of recent partnerships, financings, and Q3 results, this supports ongoing team build-out rather than signaling a new strategic shift.

Key Terms

equity inducement awards financial

"options to purchase an aggregate of 129,626 shares ... as equity inducement awards"

Equity inducement awards are special stock-based rewards given to new employees to encourage them to join a company or stay long-term. They are like signing bonuses paid with company shares instead of cash, helping motivate employees to contribute to the company's success.

exercise price financial

"granted with a 10-year term and an exercise price equal to $13.21"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Nasdaq Listing Rule 5635(c)(4) regulatory

"in accordance with Nasdaq Listing Rule 5635(c)(4)"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. Not financial advice.

WALTHAM, Mass., Dec. 18, 2025 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent” or the “Company”) (Nasdaq: CBIO), a biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced that the independent directors on the Board of Directors approved the grant of options to purchase an aggregate of 129,626 shares of the Company’s ordinary shares to three non-executive employees as equity inducement awards under the Crescent Biopharma, Inc. 2025 Employment Inducement Incentive Award Plan, as amended (the “Inducement Plan”). The options were approved on December 13, 2025, granted on December 15, 2025, and were material to each employee’s acceptance of employment with Crescent, in accordance with Nasdaq Listing Rule 5635(c)(4).

The options were granted with a 10-year term and an exercise price equal to $13.21, the closing price per share of Crescent’s ordinary shares as reported by Nasdaq on December 15, 2025. The options granted to each employee shall vest and become exercisable as to one-fourth (1/4th) of the shares subject to the respective options on the first anniversary of the employee’s start date, and one-forty-eighth (1/48th) of the shares subject to the respective options shall vest and become exercisable monthly thereafter, in each case, subject to continuous service with Crescent through the applicable vesting dates. The options are subject to the terms of the Inducement Plan and the terms and conditions of an option agreement covering the applicable grant.

About Crescent Biopharma 

Crescent Biopharma’s vision is to build a world leading oncology company bringing the next wave of therapies for cancer patients. The Company’s pipeline includes its lead program, a PD-1 x VEGF bispecific antibody, as well as novel antibody-drug conjugates (ADCs). By leveraging multiple modalities and established targets, Crescent aims to rapidly advance potentially transformative therapies either as single agents or as part of combination regimens to treat a range of solid tumors. For more information, visit www.crescentbiopharma.com and follow the Company on LinkedIn and X. 

Contact

Amy Reilly
Chief Communications Officer
amy.reilly@crescentbiopharma.com
617-465-0586

FAQ

What did Crescent Biopharma (CBIO) announce on December 18, 2025 about inducement awards?

Crescent announced grants of an aggregate 129,626 options to three non-executive employees under its 2025 Inducement Plan.

When were the CBIO options approved and granted and what is the exercise price?

The options were approved on December 13, 2025, granted on December 15, 2025, with an exercise price of $13.21 per share.

What are the term and vesting schedule for the Crescent Biopharma inducement options (CBIO)?

Each option has a 10-year term; vesting is 25% after 1 year from the employee start date and then 1/48th monthly thereafter, subject to continuous service.

Why did Crescent state the options were issued under Nasdaq Listing Rule 5635(c)(4)?

The company said the options were material to each employee’s acceptance of employment, which aligns with Nasdaq Listing Rule 5635(c)(4) for inducement awards.

Do the Crescent (CBIO) inducement options include additional terms or agreements?

Yes, the options are subject to the Inducement Plan and individual option agreements that set the specific terms and conditions.

How many employees received inducement options in Crescent's December 2025 grant?

Three non-executive employees received the inducement option grants.