Crescent Biopharma Announces Trial in Progress Presentation for ASCEND Study of CR-001, a PD-1 x VEGF Bispecific Antibody, at Upcoming American Society of Clinical Oncology (ASCO) 2026 Annual Meeting

Rhea-AI Summary

Crescent Biopharma (Nasdaq: CBIO) will present a Trial-in-Progress poster on the ASCEND Phase 1/2 study of CR-001, a PD-1 x VEGF bispecific antibody, at the ASCO 2026 Annual Meeting on May 30 in Chicago.

The global ASCEND trial enrolls up to 290 patients with advanced solid tumors, including NSCLC and gastrointestinal and gynecological cancers, to assess safety, tolerability, pharmacokinetics, pharmacodynamics and preliminary antitumor activity. Initial proof-of-concept data are anticipated in Q1 2027, with additional combination data expected in mid-2027.

AI-generated analysis. Not financial advice.

Key Figures

Planned enrollment: up to 290 patients Initial ASCEND readout: Q1 2027 Chemo combo data: mid-2027 (Q2/Q3) +4 more

7 metrics

Planned enrollment up to 290 patients ASCEND Phase 1/2 trial across multiple solid tumor types

Initial ASCEND readout Q1 2027 Proof-of-concept data including safety and preliminary antitumor activity

Chemo combo data mid-2027 (Q2/Q3) CR-001 plus standard-of-care chemotherapy in ASCEND dose expansion

ADC combo China data mid-2027 (Q2/Q3) CR-001 with Kelun-Biotech ADC in China Phase 1/2 trial

ASCO meeting dates May 29–June 2, 2026 American Society of Clinical Oncology Annual Meeting window

Poster session time May 30, 1:30–4:30 p.m. CDT ASCEND trial-in-progress poster session at ASCO 2026

Poster number 469a ASCEND trial-in-progress poster identifier at ASCO 2026

Market Reality Check

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Technical Shares at $20.23 are trading above the $13.76 200-day moving average and sit at the 52-week low.

Peers on Argus

CBIO was up 2.33% with mixed peer moves: KYTX +4.71%, NVCT +4.09%, CRBU +2.05%, ...

2 Up

CBIO was up 2.33% with mixed peer moves: KYTX +4.71%, NVCT +4.09%, CRBU +2.05%, while IPHA fell 9.63%. Momentum scanner flagged other biotech names (TVGN, ELTX) moving up, but CBIO’s move appears more stock-specific than a broad sector shift.

Historical Context

5 past events · Latest: May 12 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 12	Inducement grants	Neutral	+6.2%	Stock option inducement awards for five non-executive employees under 2025 plan.
May 06	Investor conferences	Neutral	-0.1%	Management participation in three May 2026 healthcare and oncology investor events.
Apr 29	Q1 2026 earnings	Neutral	+6.8%	Reported Q1 2026 results, $189.2M cash, and ASCEND plus pipeline development timelines.
Apr 24	Inducement grants	Neutral	+1.4%	Inducement option grants for two employees covering 12,525 shares at $25.70 exercise.
Mar 27	Inducement grants	Neutral	+9.6%	Equity inducement options for three employees totaling 35,325 shares with 10-year term.

Pattern Detected

Recent company updates, including financials and routine inducement grants, have often seen modestly positive price reactions.

Recent Company History

Over the past few months Crescent Biopharma has focused on pipeline advancement and corporate housekeeping. Multiple inducement option grants in March–May 2026 were announced with relatively small but generally positive price reactions. On April 29, 2026, Q1 2026 results highlighted cash of $189.2 million and funding into 2028, alongside ongoing ASCEND enrollment and future readouts starting in Q1 2027, establishing a clear multi-year development runway that today’s ASCEND/ASCO update builds upon.

Market Pulse Summary

This announcement details the ASCEND Phase 1/2 trial design for CR-001 and its planned ASCO 2026 tri...

Analysis

This announcement details the ASCEND Phase 1/2 trial design for CR-001 and its planned ASCO 2026 trial‑in‑progress poster, emphasizing enrollment of up to 290 patients and first proof‑of‑concept data in Q1 2027. It builds on earlier disclosures about Crescent’s immuno‑oncology platform and global strategy. Investors may focus on safety, pharmacokinetic and early efficacy signals once readouts begin, along with how CR-001 combinations and China data progress through mid‑2027.

Key Terms

pd-1, vegf, bispecific antibody, non-small cell lung cancer, +4 more

8 terms

pd-1 medical

"cr-001, a pd-1 x vegf bispecific antibody, will be presented during the 2026"

PD-1 is a protein found on certain immune cells that acts like a brake, signaling the immune system to slow down and avoid damaging healthy tissue. Drugs that block PD-1 release that brake so immune cells can better attack cancer cells; because such therapies can produce large clinical benefits, regulatory approvals, trial outcomes, pricing and market uptake for PD-1 drugs can materially affect a drugmaker’s prospects and investor returns.

vegf medical

"cr-001, a pd-1 x vegf bispecific antibody, will be presented during the 2026"

Vascular endothelial growth factor (VEGF) is a naturally occurring protein that signals the body to grow new blood vessels, like a fertilizer prompts plants to sprout. It matters to investors because drugs that block or mimic VEGF can dramatically change outcomes for cancers and eye diseases, making them major drivers of clinical trial results, regulatory approvals, market value and future revenue potential for biopharma companies.

bispecific antibody medical

"cr-001, a pd-1 x vegf bispecific antibody, will be presented during the 2026"

A bispecific antibody is a specially designed protein that can attach to two different targets at the same time. Think of it as a custom-made connector that brings two things together—such as a disease cell and an immune system component—helping the body fight illnesses more effectively. For investors, understanding bispecific antibodies is important because they represent innovative therapies that could lead to new treatments and potentially lucrative market opportunities.

non-small cell lung cancer medical

"including non-small cell lung cancer (nsclc) and various gastrointestinal"

A broad category of lung tumors that grow from the cells lining the airways and make up the majority of lung cancer cases; it includes several subtypes that behave and respond to treatment differently, like different models of the same car family. It matters to investors because its large patient population and variety of treatment options — surgery, traditional chemo, targeted drugs and immunotherapies — create major markets where clinical trial results, drug approvals or changing treatment guidelines can quickly affect a company’s revenue and stock value.

overall response rate medical

"including overall response rate (orr), duration of response (dor),"

Overall response rate is the percentage of patients in a clinical study whose measurable disease shrinks or disappears after receiving a treatment. Investors watch it like a product’s “hit rate” because higher response rates can signal a drug’s effectiveness, boost chances of regulatory approval and market demand, and affect a company’s future revenue prospects, similar to how a higher batting average suggests a more reliable player.

progression-free survival medical

"duration of response (dor), progression-free survival (pfs), and overall"

Progression-free survival is the length of time during and after a treatment that a patient's disease does not get worse, measured from the start of treatment until the disease shows measurable signs of progression or the patient dies. Investors care because longer progression-free survival in clinical trials often signals that a drug is effective, improving chances of regulatory approval, market adoption, and revenue potential—think of it as a stopwatch showing how long a therapy can keep the illness at bay.

overall survival medical

"progression-free survival (pfs), and overall survival (os)."

Overall survival is the average or median length of time patients remain alive after starting a treatment or entering a clinical study, measured regardless of cause of death. Investors care because it is a clear, hard measure of a therapy’s real-world benefit — like timing how long a new battery actually runs — and strong improvements in overall survival can drive regulatory approval, market adoption and revenue potential.

adc medical

"together with our planned adc combination studies, this development strategy"

An antibody-drug conjugate (ADC) is a targeted cancer medicine that pairs an antibody that recognizes specific markers on tumor cells with a potent cell-killing drug, connected so the toxic payload is delivered directly to the cancer. For investors, ADCs matter because successful ADCs can improve patient outcomes and reduce side effects compared with traditional chemotherapy, shaping clinical trial success, regulatory approval chances, commercial demand, and a company’s valuation much like a guided missile versus a general bomb.

AI-generated analysis. Not financial advice.

ASCEND Phase 1/2 global clinical trial evaluating CR-001 in multiple solid tumor types, including NSCLC, gastrointestinal and gynecological cancers in first-line and previously treated patients

Multiple CR-001 clinical data readouts anticipated beginning in Q1 2027

Waltham, Mass., May 21, 2026 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent” or the “Company”) (Nasdaq: CBIO), a clinical-stage biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced a trial in progress poster of the ASCEND study of CR-001, a PD-1 x VEGF bispecific antibody, will be presented during the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting being held May 29-June 2, in Chicago.

Enrollment is ongoing in ASCEND (NCT07335497), a global, open-label Phase 1/2 clinical trial evaluating CR-001 in multiple solid tumor types, including non-small cell lung cancer (NSCLC) and various gastrointestinal and gynecological cancers, in both treatment-naïve and previously treated patients. The trial is expected to enroll up to 290 patients in dose-escalation, backfill and dose-optimization cohorts at centers across multiple regions, including the United States, Europe and Asia Pacific. The primary objectives of the study are to evaluate the safety and tolerability of CR-001. Secondary objectives include the assessment of pharmacokinetic and pharmacodynamic profiles, identification of the recommended Phase 2 dose, and evaluation of preliminary antitumor activity, including overall response rate (ORR), duration of response (DoR), progression-free survival (PFS), and overall survival (OS).

“CR-001 is designed to serve as an immuno-oncology backbone and best-in-class PD-1 x VEGF bispecific antibody for people living with cancer,” said Ellie Im, M.D., chief medical officer of Crescent. “We are encouraged by the strong global engagement from investigators involved in ASCEND, which underscores both the unmet need in cancer treatment and the study’s efficient design to evaluate CR-001 as a monotherapy and in combination with standard-of-care therapies. Together with our planned ADC combination studies, this development strategy is intended to rapidly expand our understanding of CR-001 across multiple solid tumor types, beginning with initial ASCEND data expected in the first quarter of 2027.”

Crescent anticipates reporting:

• Proof-of-concept clinical data from the ASCEND trial of CR-001 in the first quarter of 2027, including initial safety, pharmacokinetics, pharmacodynamics and preliminary antitumor activity from dose escalation and backfill cohorts in first-line and previously treated patients in multiple solid tumor types. A backfill cohort of first-line NSCLC patients is planned as part of this readout.
• Initial data of CR-001 in combination with standard of care chemotherapy in first-line and previously treated patients in mid-2027 (Q2/Q3) utilizing the dose expansion part of the ASCEND trial.
• Initial data from the Phase 1/2 trial in China of CR-001 in combination with a Kelun-Biotech ADC in mid-2027 (Q2/Q3).
  
  

Poster Session Details
Abstract Number: TPS2693
Title: ASCEND: A phase 1/2, dose-escalation, optimization, and dose-expansion study to evaluate the safety and antitumor activity of CR-001 in adults with locally advanced or metastatic solid tumors
Presenter: Meredith Pelster, M.D., M.Sc., Sarah Cannon Research Institute
Date & Time: Saturday, May 30, 1:30 p.m. – 4:30 p.m. CDT
Location: Hall A – Posters & Exhibits
Poster Number: 469a

Additional information, including abstracts, can be found on the ASCO Annual Meeting website, and the poster will be available on Crescent’s website beginning at 8:00 a.m. ET on the day of the presentation.

About CR-001

CR-001 is an investigational tetravalent bispecific antibody being developed for the treatment of solid tumors that combines two complementary, validated mechanisms in oncology via a blockade of PD-1 and VEGF. PD-1 checkpoint inhibition is aimed at restoring T cells’ ability to recognize and destroy tumor cells, and blocking VEGF is intended to reduce blood supply to tumor cells and to inhibit tumor growth. In preclinical studies, CR-001 demonstrated cooperative pharmacology with increased binding to PD-1 and signal blockade in the presence of VEGF as well as robust antitumor activity. CR-001 is currently being evaluated in ASCEND (NCT07335497), a global Phase 1/2 trial in patients with advanced solid tumors. CR-001’s anti-VEGF activity may also normalize the vasculature at the tumor site, which has the potential to improve the localization and effectiveness of combination therapies, such as the administration of CR-001 with Crescent’s antibody-drug conjugates (ADCs) in development. The first Phase 1/2 ADC combination trial with CR-001 is expected to initiate in the second half of 2026.

Under its strategic collaboration, Crescent has granted Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., exclusive rights to research, develop, and commercialize CR-001 (also known as SKB118) in Greater China (including mainland China, Hong Kong, Macau and Taiwan). Kelun-Biotech plans to initiate a Phase 1/2 trial of CR-001 (SKB118) in China in the first half of 2026.

CR-001 was discovered by Paragon Therapeutics, an antibody discovery engine founded by Fairmount.

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 clinical-stage 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.

Forward-Looking Statements

Certain statements in this press release, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements relating to Crescent’s expectations, hopes, beliefs, intentions or strategies regarding the future of its pipeline and business including, without limitation, statements regarding the preclinical and clinical development and clinical trial design of CR-001, the anticipated timing and success of the Phase 1/2 ASCEND trial for CR-001, including enrollment expectations and the availability and timing of clinical data readouts, the expected benefits or opportunities with respect to the strategic partnership between Crescent and Kelun-Biotech, including the anticipated timing and success of Kelun-Biotech’s Phase 1/2 trial of CR-001 in China, the potential therapeutic uses, efficacy, durability, safety profile, and dosing of CR-001, and the potential for a PD-1 x VEGF bispecific antibody to become a foundational treatment for locally advanced or metastatic solid tumors. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “predict,” “target,” “intend,” “could,” “would,” “should,” “project,” “plan,” “expect,” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on management’s current expectations, estimates, forecasts, and projections about the Company’s business and the industry in which we operate. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, that the expected benefits of, and potential opportunities related to, CR-001 may change, including the potential utility, efficacy, potency, safety, clinical benefits, clinical response and convenience of Crescent’s product candidates, that CR-001 may not receive regulatory approval and, if approved, may not be commercially successful, that there can be no assurance that Crescent’s clinical trials will be completed successfully and/or produce results necessary to support regulatory approval for commercialization, that Crescent may not reach the anticipated milestones at the times outlined in this release or at all, that Crescent’s current or future collaborations, including the current collaboration with Kelun-Biotech, may not be successful, Crescent’s limited operating history, including with respect to clinical trials, Crescent’s historical losses and any future ability to generate revenue, Crescent’s ability to raise capital to support its business plans, risks associated with clinical development and regulatory approval, risks related to Crescent’s intellectual property, Crescent’s reliance on third parties, including to help develop its product candidates and run its clinical trials, as well as to manufacture its product candidates, and those factors more fully described in Crescent’s most recent filings with the Securities and Exchange Commission (including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026), and Crescent’s other filings with the Securities and Exchange Commission. Except as required by law, Crescent undertakes no obligation to update or revise these forward-looking statements.

Contacts

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

Media
Jenna Poist
Director, Corporate Communications
jenna.poist@crescentbiopharma.com
781-671-5019

FAQ

What is Crescent Biopharma (CBIO) presenting at the ASCO 2026 Annual Meeting?

Crescent Biopharma is presenting a Trial-in-Progress poster for the ASCEND Phase 1/2 study of CR-001. According to Crescent, ASCEND evaluates the PD-1 x VEGF bispecific antibody in adults with locally advanced or metastatic solid tumors across multiple regions and tumor types.

What is the ASCEND Phase 1/2 trial of CR-001 in Crescent Biopharma (CBIO) about?

ASCEND is a global, open-label Phase 1/2 trial evaluating CR-001 in multiple advanced solid tumors. According to Crescent, it includes NSCLC plus gastrointestinal and gynecological cancers, assessing safety, tolerability, pharmacokinetics, pharmacodynamics and preliminary antitumor activity in up to approximately 290 patients.

When are key data readouts expected from Crescent Biopharma’s (CBIO) ASCEND trial of CR-001?

Proof-of-concept data from ASCEND are anticipated in the first quarter of 2027. According to Crescent, this will include initial safety, pharmacokinetics, pharmacodynamics and preliminary antitumor activity, followed by combination data with standard chemotherapy and a Kelun-Biotech ADC in mid-2027.

How many patients will Crescent Biopharma’s ASCEND trial of CR-001 (CBIO) enroll and in which regions?

The ASCEND trial is expected to enroll up to 290 patients across several global regions. According to Crescent, sites are located in the United States, Europe and Asia Pacific, with dose-escalation, backfill and dose-optimization cohorts in first-line and previously treated patients.

What are the primary and secondary objectives of Crescent Biopharma’s CR-001 ASCEND study (CBIO)?

The primary objectives are to evaluate the safety and tolerability of CR-001 in adults with solid tumors. According to Crescent, secondary objectives include pharmacokinetic and pharmacodynamic profiling, identifying a recommended Phase 2 dose, and assessing ORR, DoR, PFS and OS.

When and where is Crescent Biopharma’s ASCO 2026 poster on CR-001 (CBIO) being presented?

The ASCEND Trial-in-Progress poster will be presented Saturday, May 30, 2026, from 1:30–4:30 p.m. CDT. According to Crescent, it will be in Hall A – Posters & Exhibits, with the poster also posted on Crescent’s website at 8:00 a.m. ET that day.