Crescent Biopharma (Nasdaq: CBIO) posts Q2 loss, extends cash runway to 2028
Rhea-AI Filing Summary
Crescent Biopharma reported Q2 2026 results with R&D expenses of $19.4 million and G&A expenses of $8.7 million, leading to a net loss of $24.8 million, or $0.74 per share, compared with a $21.8 million loss a year earlier. The company is advancing its oncology pipeline, including the ASCEND Phase 1/2 trial of CR-001, a PD-1 x VEGF bispecific antibody, and ADC programs CR-002 and CR-003, with multiple proof-of-concept and combination data readouts expected beginning in 2027.
Cash and cash equivalents were $171.6 million as of June 30, 2026, with pro forma cash of $305.1 million after a July 2026 public offering that generated $143.7 million in gross proceeds. Crescent expects this capital to fund operations into the second half of 2028, with approximately 33.5 million ordinary shares outstanding, or 43.5 million pro forma.
Positive
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Filing Explained
The completed July offering expanded the pro forma share base, including pre-funded warrants that can convert into ordinary shares and dilute existing ownership.
This Form 8-K furnishes the company’s second-quarter results and business-update press release under Item 2.02; the information is furnished rather than treated as filed under Section 18. The offering described in the release is completed, and its pro forma share count includes securities that can become ordinary shares.
The clinical programs are at different stages: enrollment is progressing in the global ASCEND Phase 1/2 trial for CR-001, a CR-001 combination trial with sac-TMT is underway in China, and CR-003’s Phase 1/2 trial is ongoing there. CR-002 is described as on track to begin a global Phase 1/2 trial in the second half of 2026.
The reported
The next specified clinical checkpoint is anticipated proof-of-concept data for CR-001 and CR-003 in the first quarter of 2027; those results have not been reported in this filing.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net loss Q2 2026: $24.8 million
R&D expenses Q2 2026: $19.4 million
G&A expenses Q2 2026: $8.7 million
+5 more
8 metrics
Net loss Q2 2026
$24.8 million
Three months ended June 30, 2026
R&D expenses Q2 2026
$19.4 million
Three months ended June 30, 2026
G&A expenses Q2 2026
$8.7 million
Three months ended June 30, 2026
Cash balance
$171.6 million
Cash and cash equivalents as of June 30, 2026
Pro forma cash
$305.1 million
As of June 30, 2026, including net proceeds from July 2026 offering
Public offering gross proceeds
$143.7 million
July 2026 public offering of ordinary shares and pre-funded warrants
Shares outstanding
33.5 million
Ordinary shares and equivalents issued and outstanding as of June 30, 2026
Pro forma shares outstanding
43.5 million
Pro forma including July 2026 public offering securities
Key Terms
bispecific antibody, antibody-drug conjugates (ADCs), Investigational New Drug (IND), objective response rate (ORR), +2 more
6 terms
bispecific antibody medical
"CR-001 is an investigational tetravalent bispecific antibody that combines two..."
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.
antibody-drug conjugates (ADCs) medical
"The Company’s clinical-stage pipeline includes novel antibody-drug conjugates (ADCs)."
Antibody-drug conjugates (ADCs) are advanced medicines that combine a targeted antibody with a powerful drug, acting like a guided missile to deliver treatment directly to cancer cells while sparing healthy tissue. This precision approach can improve effectiveness and reduce side effects, making ADCs a promising area of biotech innovation. For investors, advancements in ADC technology can signal potential growth opportunities in the pharmaceutical and healthcare sectors.
Investigational New Drug (IND) regulatory
"Kelun-Biotech received Investigational New Drug (IND) approval for CR-001..."
An investigational new drug (IND) is a drug or biologic that is being tested but has not yet been approved for general use; it is the application and formal status that allows a company to begin human clinical trials under regulator oversight. Investors care because an IND marks the transition from lab work to human testing — like getting a permit to run real-world experiments — which creates important milestones, costs, timelines and regulatory risk that drive a development-stage company's value.
objective response rate (ORR) medical
"Primary outcomes of the study are safety and assessment of objective response rate (ORR)..."
The objective response rate (ORR) is the percentage of patients in a clinical trial whose tumors shrink by a pre-set amount for a minimum time, counting both complete disappearance and meaningful partial shrinkage. Investors watch ORR because it gives an early, quantitative signal that a treatment is having a direct effect on disease—like the percent of people whose fever drops after taking a medicine—which can influence expectations for later trial success, regulatory approval, and market potential.
progression-free survival (PFS) medical
"Secondary outcomes include evaluating progression-free survival (PFS) and overall survival (OS)."
Progression-free survival (PFS) measures the length of time in a clinical trial or treatment period during which a patient’s disease does not get worse. Investors watch PFS because longer PFS in trials can signal a drug’s effectiveness, influence regulatory approval and reimbursement decisions, and affect commercial value—think of it as how long a product keeps a problem from returning, which helps estimate future sales and competitive advantage.
integrin beta-6 (ITGB6) medical
"CR-003 is an investigational ADC directed to ITGB6, which is overexpressed..."
Earnings Snapshot
Net loss: $24.8 million · Guidance included
Quarter ended June 30, 2026
Net loss
$24.8 million
Compared with $21.8 million in Q2 2025
R&D expenses
$19.4 million
Compared with $12.1 million in Q2 2025
G&A expenses
$8.7 million
Compared with $8.9 million in Q2 2025
Guidance
Existing cash and cash equivalents, including proceeds from the July 2026 offering, are expected to fund operations into the second half of 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Crescent Biopharma (CBIO)’s key Q2 2026 financial results?
Crescent Biopharma reported a Q2 2026 net loss of $24.8 million, or $0.74 per share, with R&D expenses of $19.4 million and G&A expenses of $8.7 million, compared with a $21.8 million net loss in Q2 2025.
How much cash and runway does Crescent Biopharma (CBIO) have after Q2 2026?
As of June 30, 2026, Crescent held $171.6 million in cash and cash equivalents. Pro forma cash was $305.1 million after the July 2026 financing, and the company expects its cash to fund operations into the second half of 2028.
What equity financing did Crescent Biopharma (CBIO) complete in July 2026?
In July 2026 Crescent completed a public offering of ordinary shares and pre-funded warrants with gross proceeds of $143.7 million. Pro forma for this transaction, Crescent’s cash was $305.1 million and pro forma ordinary shares and equivalents were 43.5 million.
What is the status of Crescent Biopharma (CBIO)’s CR-001 ASCEND trial and key 2027 milestones?
Enrollment is progressing in the global Phase 1/2 ASCEND trial of CR-001 in multiple solid tumors. Crescent anticipates proof-of-concept data in Q1 2027, with additional combination chemotherapy and China Phase 2 data in mid-2027.
What are Crescent Biopharma (CBIO)’s CR-002 and CR-003 ADC programs and timelines?
CR-002 is a PD-L1–targeted ADC with an IND submission planned for mid-2026 and a global Phase 1/2 trial in 2H 2026, with proof-of-concept data expected in 2H 2027. CR-003, an ITGB6-targeted ADC, has an ongoing Phase 1/2 trial in China with proof-of-concept data expected Q1 2027.
What is Crescent Biopharma (CBIO)’s collaboration with Kelun-Biotech?
Under a strategic collaboration, Kelun-Biotech has exclusive rights to CR-001 in Greater China and is running Phase 1/2 and Phase 2 trials, including a 206-patient NSCLC study with CR-001 plus sacituzumab tirumotecan. Crescent holds ex-U.S./Europe rights to CR-003 outside Greater China.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________________________________________________________________________________________
FORM 8-K
________________________________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): July 30, 2026
________________________________________________________________________________________________
(Exact Name of Registrant as Specified in Charter)
________________________________________________________________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (617 ) 430-5595
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
________________________________________________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
The | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On July 30, 2026, Crescent Biopharma, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 2.02 and Exhibits 99.1 attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filling.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | Press Release issued by Crescent Biopharma, Inc. on July 30, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CRESCENT BIOPHARMA, INC. | ||||||||||||||
| Date: July 30, 2026 | By: | /s/ Joshua Brumm | ||||||||||||
| Name: | Joshua Brumm | |||||||||||||
| Title: | Chief Executive Officer | |||||||||||||
Crescent Biopharma Reports Second Quarter 2026 Financial Results and Recent Business Highlights
Enrollment progressing in ASCEND Phase 1/2 global clinical trial evaluating CR-001, a PD-1 x VEGF bispecific antibody, in multiple solid tumor types in first-line and previously treated patients
CR-001 + sacituzumab tirumotecan (sac-TMT) Phase 2 trial in NSCLC, first ADC combination study in Kelun-Biotech collaboration, underway in China
Phase 1/2 trial of CR-003, an ITGB6-targeted ADC, ongoing in China; Phase 1/2 global trial of CR-002, a PD-L1-targeted ADC, on track to initiate in second half of 2026
Multiple key clinical data readouts across the portfolio anticipated beginning in Q1 2027
Completed $143.7 million public offering extending expected cash runway into the second half of 2028
Waltham, Mass., July 30, 2026 – 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 financial results for the second quarter ended June 30, 2026 and recent business highlights.
“We have continued to demonstrate exceptional execution and are on track for multiple key clinical data readouts across our portfolio in 2027. The positive momentum in our ASCEND trial of CR-001 positions us for robust datasets from hundreds of patients globally in monotherapy and standard of care chemotherapy combinations across several tumor types. CR-001 is the first PD-1 x VEGF bispecific antibody to be evaluated in combination with sac-TMT, and we are proud to be partnering with Kelun-Biotech to realize its full potential as an immuno-oncology backbone. Our ADC pipeline also is advancing, with the CR-003 clinical trial enrolling in China and we are preparing for CR-002 to enter the clinic in a global study during the second half of this year,” said Joshua Brumm, chief executive officer of Crescent. “Our recent financing extends our expected cash runway into the second half of 2028, beyond key catalysts, strengthening our balance sheet as we work to deliver transformative therapies for people living with cancer.”
Recent Business Highlights & Anticipated Milestones
CR-001, PD-1 x VEGF bispecific antibody
•CR-001 is an investigational tetravalent bispecific antibody that combines two complementary, validated mechanisms in oncology via a blockade of PD-1 and VEGF. Enrollment continues to progress in ASCEND, 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.
•A trial in progress poster of the ASCEND study design was featured during the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting held May 29-June 2, in Chicago.
•Under its strategic collaboration, Crescent granted Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., (“Kelun-Biotech”) exclusive rights to research, develop, and commercialize CR-001 (also known as SKB118) in Greater China.
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◦In May 2026, Kelun-Biotech received Investigational New Drug (IND) approval from the Center for Drug Evaluation of the National Medical Products Administration for CR-001 (SKB118) for the treatment for advanced solid tumors, and subsequently commenced a Phase 1/2 monotherapy trial in China.
◦Kelun-Biotech recently initiated a Phase 2 trial of CR-001 (SKB118) in combination with sacituzumab tirumotecan (sac-TMT), a TROP2-directed ADC, in China. It is an open-label, multi-center trial designed to evaluate the safety, tolerability and efficacy of CR-001 in combination with sac-TMT, in approximately 206 participants with locally advanced or metastatic NSCLC. Primary outcomes of the study are safety and assessment of objective response rate (ORR); secondary outcomes include evaluating progression-free survival (PFS) and overall survival (OS).
•Crescent also plans to evaluate CR-001 in combination with additional ADCs.
•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 various standard of care chemotherapy regimens in first-line and previously treated patients by mid-2027 (Q2/Q3) utilizing the dose expansion part of the ASCEND trial.
◦Initial data from the Phase 2 trial in China of CR-001 in combination with sac-TMT in mid-2027 (Q2/Q3).
CR-002, topoisomerase inhibitor ADC targeting PD-L1
•CR-002 is an ADC directed to PD-L1, a validated target known to have high expression in multiple solid tumors. CR-002 incorporates a PD-L1 antibody selected for high internalization to facilitate payload release in target cells and a linker designed for intracellular cleavage and high stability in circulation.
•Crescent is on track to submit an IND application to the U.S. Food and Drug Administration (FDA) for CR-002 in mid-2026 to support the initiation of a global Phase 1/2 trial in solid tumors in the second half of 2026, with proof-of-concept data expected in the second half of 2027.
CR-003, topoisomerase inhibitor ADC targeting integrin beta-6 (ITGB6)
•CR-003 is an investigational ADC directed to ITGB6, which is overexpressed in many solid tumors with minimal expression in most normal tissues. CR-003 consists of an anti-ITGB6 fully human IgG1 monoclonal antibody conjugated via a stable, clinically validated cleavable linker.
•A Phase 1/2 trial of CR-003 (also known as SKB105) in participants with advanced solid tumors conducted by Kelun-Biotech in China is ongoing and proof-of-concept data are expected in the
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first quarter of 2027. A Phase 1/2 combination trial of CR-003 and CR-001 is expected to initiate in the first half of 2027, with initial data anticipated by year-end 2027. Under the collaboration, Kelun-Biotech granted Crescent exclusive rights to research, develop, and commercialize CR-003 (SKB105) in the United States, Europe and all markets outside of Greater China.
Corporate
•In July 2026, Crescent completed a public offering of ordinary shares and pre-funded warrants with gross proceeds of $143.7 million before deducting underwriting discounts and commissions and other offering expenses.
Second Quarter 2026 Financial Results
Cash position: Cash and cash equivalents were $171.6 million as of June 30, 2026. Pro forma cash was $305.1 million as of June 30, 2026, reflecting an additional $133.5 million in net proceeds from the July 2026 public offering. Crescent expects that its existing cash and cash equivalents will fund operations into the second half of 2028.
Research and development (R&D) expenses: R&D expenses were $19.4 million and $12.1 million for the three months ended June 30, 2026 and 2025, respectively. R&D expenses increased to support the continued development of the Company’s pipeline primarily due to increased costs for chemistry, manufacturing, and controls and clinical activity as well as higher personnel-related costs.
General and administrative (G&A) expenses: G&A expenses were $8.7 million and $8.9 million for the three months ended June 30, 2026 and 2025, respectively. The decrease in G&A expenses is the result of decreased personnel costs, primarily related to share-based compensation and decreased professional service costs, offset by increased office, facilities and software costs and expenses associated with operating as a public company.
Net loss: Net loss was $24.8 million and $21.8 million, or $0.74 and $4.93 per basic and diluted share, for the three months ended June 30, 2026 and 2025, respectively.
Shares outstanding: As of June 30, 2026, Crescent had approximately 33.5 million ordinary shares and ordinary share equivalents issued and outstanding, including ordinary shares underlying pre-funded warrants and non-voting convertible preferred stock. Pro forma, Crescent had 43.5 million ordinary shares and ordinary share equivalents issued and outstanding as of June 30, 2026, which includes an additional 9.9 million ordinary shares and ordinary shares underlying pre-funded warrants issued pursuant to the July 2026 public offering.
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 as single agents and 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.
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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, beliefs, or strategies regarding the future of its pipeline and business including, without limitation: statements regarding the strategic partnership with Kelun-Biotech, including the potential synergies and benefits of the partnership; the expected benefits or opportunities with respect to CR-001, CR-002, and CR-003, including the expected timelines of regulatory filings and the acceptance thereof, initiation of clinical trials and availability of initial clinical data; the potential for CR-001 to replicate preclinical demonstration of cooperative pharmacology and in vivo anti-tumor activity in clinical trials; the Phase 1/2 trial design and indication selection for CR-001; the Phase 2 combination trial for CR-001 and sac-TMT; the potential for CR-002, and CR-003 to act as single agents and in combination with CR-001; and Crescent’s anticipated cash runway. Forward-looking statements generally relate to future events or 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 may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects and involve a number of risks, uncertainties or other assumptions that may cause actual performance to be materially different from those expressed or implied by these forward-looking statements. Risks and uncertainties include, but are not limited to: the expected benefits of, and opportunities related to, the strategic partnership between Crescent and Kelun-Biotech may not be realized or may take longer to realize than anticipated; 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, run its clinical trials, and manufacture its product candidates; significant disruptions of information technology systems or breaches of data security, litigation and regulatory risks; risks related to the current macroeconomic environment, including fluctuating interest rates, barriers to trade, changes to fiscal and monetary policy or government budget dynamics, geopolitical factors, including the ongoing conflicts in Iran and between Russia and Ukraine and the responses thereto, and supply chain disruptions, as well as 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), and Crescent’s other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of Crescent’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, Crescent does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements.
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Crescent Biopharma, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
Condensed Consolidated Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
Three Months Ended June 30, 2026 | Six Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | ||||||||||||||||||||
License agreement revenue | $ | — | $ | 1,039 | $ | — | $ | — | |||||||||||||||
Operating expenses | |||||||||||||||||||||||
Research and development | 19,391 | 37,294 | 12,081 | 22,708 | |||||||||||||||||||
General and administrative | 8,743 | 16,608 | 8,949 | 12,547 | |||||||||||||||||||
Total operating expenses | 28,134 | 53,902 | 21,030 | 35,255 | |||||||||||||||||||
Other income | 1,770 | 1,770 | — | — | |||||||||||||||||||
Loss from operations | (26,364) | (51,093) | (21,030) | (35,255) | |||||||||||||||||||
Other income (expense) | 1,527 | 2,973 | (760) | (1,683) | |||||||||||||||||||
Net loss and comprehensive loss | $ | (24,837) | $ | (48,120) | $ | (21,790) | $ | (36,938) | |||||||||||||||
Net loss per share attributable to ordinary shareholders, basic and diluted | $ | (0.74) | $ | (1.44) | $ | (4.93) | $ | (14.11) | |||||||||||||||
Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic and diluted | $ | (743.25) | $ | (1,442.56) | $ | (4,930.97) | $ | (14,104.90) | |||||||||||||||
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic and diluted | 30,532,234 | 30,465,395 | 3,856,925 | 2,331,339 | |||||||||||||||||||
Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic and diluted | 2,890 | 2,890 | 565 | 286 | |||||||||||||||||||
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Summary Balance Sheet Data
(in thousands)
(Unaudited)
(in thousands)
(Unaudited)
June 30, 2026 | December 31, 2025 | ||||||||||
Assets | |||||||||||
Cash | $ | 171,593 | $ | 213,192 | |||||||
Other assets | 11,165 | 27,101 | |||||||||
Total Assets | $ | 182,758 | $ | 240,293 | |||||||
Liabilities and Shareholders' Equity | |||||||||||
Liabilities | $ | 19,503 | $ | 37,281 | |||||||
Shareholders' equity | 163,255 | 203,012 | |||||||||
Total liabilities and shareholders' equity | $ | 182,758 | $ | 240,293 | |||||||
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
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