---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-049865"
form_type: "8-K"
ticker: "CBIO"
cik: "0001253689"
company_name: "CRESCENT BIOPHARMA, INC."
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-16T23:23:25.409842+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Crescent Bio Q3 net loss $24.6M; cash $133.3M; CR-001 IND on track

## Summary
- Net loss of $24.6M ($1.27 per share) for Q3 2025; R&D expense $20.3M, G&A $5.5M.
- Cash position $133.3M as of Sept 30, 2025, expected to fund operations through 2027.
- IND submission for CR-001 (PD-1 x VEGF bispecific) on track for Q4 2025; Phase 1 start Q1 2026.
- Preclinical data for CR-001 presented at SITC showing cooperative pharmacology and anti-tumor activity.
- ADC program CR-002 IND submission expected mid-2026; CR-003 also advancing.

## SEC filing metadata
- accession: 0001628280-25-049865
- form_type: 8-K
- ticker: CBIO
- cik: 0001253689
- company_name: CRESCENT BIOPHARMA, INC.
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1253689/000162828025049865/0001628280-25-049865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1253689/000162828025049865/cbio-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-049865
- JSON: https://secwatch.observer/filing/0001628280-25-049865.json
- Plain text: https://secwatch.observer/filing/0001628280-25-049865.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.