---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-028386"
form_type: "8-K"
ticker: "CBIO"
cik: "0001253689"
company_name: "CRESCENT BIOPHARMA, INC."
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T01:36:09.363511+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-028386
- form_type: 8-K
- ticker: CBIO
- cik: 0001253689
- company_name: CRESCENT BIOPHARMA, INC.
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1253689/000162828026028386/0001628280-26-028386-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1253689/000162828026028386/cbio-20260429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-028386
- JSON: https://secwatch.observer/filing/0001628280-26-028386.json
- Plain text: https://secwatch.observer/filing/0001628280-26-028386.txt

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