Crescent Biopharma Q1 net loss $23.3M; cash $189.2M funds ops into 2028

CRESCENT BIOPHARMA, INC.

Net loss $23.3M ($0.70/sh) vs $15.1M ($19.63/sh) in Q1 2025; revenue $1.0M from Kelun-Biotech license.
R&D expenses $17.9M (up 69% YoY) on CR-001/CR-002 development; G&A $7.9M (up 119% YoY).
Cash $189.2M as of March 31, 2026; expected to fund operations into 2028.
CR-001 ASCEND trial enrollment ongoing; proof-of-concept data expected Q1 2027.
CR-002 IND submission on track for mid-2026; clinic entry H2 2026.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CRESCENT BIOPHARMA, INC. reported first quarter ended March 31, 2026 results: revenue $1.0 million, net income $23.3 million, EPS $0.70 and $19.63 per basic and diluted share.

Period: first quarter ended March 31, 2026
Revenue: $1.0 million
Net income: $23.3 million
EPS: $0.70 and $19.63 per basic and diluted share
Result: reported results

Exact text from the filing

cash equivalents were $189.2 million as of March 31, 2026 , which is anticipated to fund operations into 2028. 2 Revenue: Revenue for the three months ended March 31, 2026 was $1.0 million compared to no revenue in 2025. The revenue recognized in 2026 is the result of the $20.0 million upfront payment received from Kelun-Biotech pursuant to the license agreement

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CRESCENT BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001628280-26-028386

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