---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-050805"
form_type: "8-K"
ticker: "CBIO"
cik: "0001253689"
company_name: "CRESCENT BIOPHARMA, INC."
filed_at: "2026-07-30T11:36:15+00:00"
generated_at: "2026-07-30T11:40:14.958396+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-050805
- form_type: 8-K
- ticker: CBIO
- cik: 0001253689
- company_name: CRESCENT BIOPHARMA, INC.
- filed_at: 2026-07-30T11:36:15+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1253689/000162828026050805/0001628280-26-050805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1253689/000162828026050805/cbio-20260730.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-050805
- JSON: https://secwatch.observer/filing/0001628280-26-050805.json
- Plain text: https://secwatch.observer/filing/0001628280-26-050805.txt

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