Earnings ·
Crescent Biopharma reported a net loss of $24.8 million ($0.74 per share) for the quarter ended June 30, 2026, with…
CBIOCrescent Biopharma, Inc.
Crescent Biopharma reported a net loss of $24.8 million ($0.74 per share) for the quarter ended June 30, 2026, with R&D expenses rising to $19.4 million due to increased clinical activity and personnel costs. The company completed a public offering in July 2026 generating $143.7 million in gross proceeds, bringing pro forma cash reserves to $305.1 million and extending its expected cash runway into the second half of 2028. Clinically, enrollment continues in the ASCEND Phase 1/2 trial for CR-001, a PD-1 x VEGF bispecific antibody, while trials for ADCs CR-003 are ongoing in China and CR-002 is on track to initiate globally in late 2026. Key data readouts across the portfolio are anticipated beginning in Q1 2027. Crescent Biopharma operates as a clinical-stage biotechnology company focused on developing novel oncology therapies, including bispecific antibodies and antibody-drug conjugates.