CBIO on Nasdaq
CRESCENT BIOPHARMA, INC.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development99¢$138.1M
- Income tax1¢$2.0M
Out of $10.8M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 |
|---|---|
| License revenue | $10.8M |
| Research and development | $138.1M |
| Total operating expenses | $163.5M |
| Loss from operations | -$152.6M |
| Interest income | $2.9M |
| Loss before provision for income taxes | -$151.9M |
| Provision for income taxes | -$2.0M |
| Net loss and comprehensive loss | -$153.9M |
| Net loss and comprehensive loss | -$153.9M |
| Net loss per share attributable to ordinary shareholders, basic (in dollars per share) | -$12.81 |
| Net loss per share attributable to ordinary shareholders, diluted (in dollars per share) | -$12.81 |
| Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic (in dollars per share) | -$12,818.01 |
| Net loss per share attributable to Series A non-voting convertible preferred shareholders, diluted (in dollars per share) | -$12,818.01 |
| Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic (in shares) | 10.4M shares |
| Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, diluted (in shares) | 10.4M shares |
| Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic (in shares) | 1.6K shares |
| Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, diluted (in shares) | 1.6K shares |
| General and administrative | $25.4M |
| Interest expense | $2.2M |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2025-06-30 | 2025-05-31 |
|---|---|---|---|
| Cash and cash equivalents | $213.2M | ||
| Accounts receivable, net | $18.0M | ||
| Prepaid expenses and other current assets | $5.5M | ||
| Total current assets | $236.7M | ||
| Property and equipment, net | $846.0K | ||
| Operating lease right-of-use assets | $1.5M | ||
| Restricted cash | $107.0K | ||
| Other assets | $1.2M | ||
| Total assets | $240.3M | ||
| Deposit liability | $5.0M | ||
| Deferred revenue | $4.2M | ||
| Operating lease liability, current | $435.0K | ||
| Warrant liability, related party | $0 | ||
| Total current liabilities | $36.1M | ||
| Operating lease liability, noncurrent | $1.2M | ||
| Notes payable, noncurrent | $0 | ||
| Total liabilities | $37.3M | ||
| Ordinary shares, $0.001 par value; [x] shares and 40,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; [x] and [x] shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $28.0K | ||
| Additional paid-in capital | $370.8M | ||
| Accumulated deficit | -$171.8M | ||
| Total shareholders' equity (deficit) | $203.0M | ||
| Total liabilities, convertible preferred shares, and shareholders equity (deficit) | $240.3M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 |
| Common stock, authorized (in shares) | 175.0M shares | ||
| Common stock, issued (in shares) | 27.6M shares | ||
| Common stock, outstanding (in shares) | 27.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 |
|---|---|
| Net loss | -$153.9M |
| Share-based compensation expense | $13.3M |
| Research and development license expense | $80.0M |
| Depreciation expense | $84.0K |
| Non-cash interest expense | $2.2M |
| Non-cash research and development expense related to Paragon option agreement | $0 |
| Non-cash lease expense | $212.0K |
| Deferred revenue | $4.2M |
| Deposit liability | $5.0M |
| Operating lease liability | -$37.0K |
| Accounts receivable | -$18.0M |
| Prepaid expenses and other current assets | -$5.0M |
| Other assets | $162.0K |
| Net cash used in operating activities | -$71.5M |
| Purchase of research and development license | -$72.0M |
| Purchases of property and equipment | -$919.0K |
| Net cash used in investing activities | -$72.9M |
| Proceeds from the Pre-Closing Financing, net | $143.0M |
| Proceeds from the private placement financing, net | $178.9M |
| Cash acquired in connection with the reverse recapitalization | $1.3M |
| Proceeds from early exercise of options | $5.0K |
| Proceeds from issuance of common stock | $0 |
| Proceeds from issuance of Series Seed convertible preferred stock | $0 |
| Payment of deferred offering costs | $0 |
| Repurchase of equity awards | -$177.0K |
| Net cash provided by financing activities | $323.0M |
| Net increase in cash, cash equivalents, and restricted cash | $178.5M |
| Operating lease liability arising from obtaining operating right-of-use asset | $1.7M |
| Assets acquired in connection with the reverse recapitalization | $1.7M |
| Other liabilities assumed in connection with the reverse recapitalization | -$2.5M |
| Purchases of property and equipment included in accounts payable and accrued expenses | $11.0K |
| Deferred financing costs included in accounts payable and accrued expenses | $6.9M |
| Convertible note principal and non-cash accrued interest converted to ordinary shares | $40.5M |
| Non-cash exchange of Pre-Merger Crescent Series Seed Preferred Stock for Series A Non-Voting Convertible Preferred Shares | $4.0M |
| Accrued expenses and other current liabilities | $5.4M |
| Proceeds from the issuance of notes payable, net of issuance costs | $0 |
Former names
- GLYCOMIMETICS INCJul 10, 2003 to Jun 23, 20252
Recent filings
- Sep 18, 2026S-8
- Sep 18, 20264
- Sep 18, 20264
- Sep 18, 20264
- Sep 18, 20264
- Sep 18, 20264
- Sep 18, 20264
- Sep 18, 20264
- Sep 17, 2026144
- Sep 17, 2026144
- Sep 16, 2026144
- Sep 16, 2026144
- Aug 14, 2026SCHEDULE 13G/A
- Jul 31, 2026EFFECT
- Jul 30, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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