Crescent Biopharma prices $125M public offering of shares and pre-funded warrants

CRESCENT BIOPHARMA, INC.

Priced 8,094,793 ordinary shares at $14.50/share and 525,897 pre-funded warrants at $14.499 each.
Gross proceeds ~$125M; net proceeds ~$115.9M (~$133.5M if underwriters' option exercised in full).
Underwriters granted 30-day option to purchase up to 1,293,103 additional ordinary shares.
Net proceeds expected to fund operations into second half of 2028; closing expected July 16, 2026.
Jefferies, TD Cowen, Guggenheim Securities, Cantor act as joint book-running managers.

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