Crescent Biopharma Q2 net loss $21.8M; merger & $200M financing closed

CRESCENT BIOPHARMA, INC.

Net loss $21.8M ($4.93/share) for Q2 2025; R&D $12.1M, G&A $8.9M.
Cash $152.6M as of June 30, 2025, expected to fund operations through 2027.
Completed merger with GlycoMimetics and closed $200M private financing.
IND for CR-001 (PD-1 x VEGF bispecific) on track for Q4 2025; proof-of-concept data H2 2026.
Adopted Executive Severance Plan with change-in-control benefits for executives.

item 2.02 item 5.02 item 9.01

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accession 0001628280-25-036846

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