Crescent Biopharma Q2 net loss $24.8M; cash runway extended to H2 2028 after $143.7M offering

CRESCENT BIOPHARMA, INC.

Net loss $24.8M ($0.74/share) vs $21.8M ($4.93/share) in Q2 2025; R&D expenses rose to $19.4M.
Cash and equivalents $171.6M; pro forma $305.1M after July 2026 public offering of $143.7M gross proceeds.
Enrollment progressing in ASCEND Phase 1/2 for CR-001 (PD-1 x VEGF bispecific); proof-of-concept data expected Q1 2027.
CR-002 (PD-L1 ADC) IND submission mid-2026; global Phase 1/2 trial on track for H2 2026 with data H2 2027.
CR-003 (ITGB6 ADC) Phase 1/2 ongoing in China; proof-of-concept data expected Q1 2027.

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