Crescent Biopharma reported a net loss of $24.8 million ($0.74 per share) for the quarter ended June 30, 2026, with R&D expenses rising to $19.4 million due to increased clinical activity and personnel costs. The company completed a public offering in July 2026 generating $143.7 million in gross proceeds, bringing pro forma cash reserves to $305.1 million and extending its expected cash runway into the second half of 2028. Clinically, enrollment continues in the ASCEND Phase 1/2 trial for CR-001, a PD-1 x VEGF bispecific antibody, while trials for ADCs CR-003 are ongoing in China and CR-002 is on track to initiate globally in late 2026. Key data readouts across the portfolio are anticipated beginning in Q1 2027. Crescent Biopharma operates as a clinical-stage biotechnology company focused on developing novel oncology therapies, including bispecific antibodies and antibody-drug conjugates.

Crescent Biopharma, Inc. entered into an underwriting agreement with Jefferies LLC and TD Securities (USA) LLC to issue and sell 8,094,793 ordinary shares at $14.50 per share and 525,897 pre-funded warrants at $14.499 per warrant. The company expects to receive net proceeds of approximately $115.9 million, potentially increasing to $133.5 million if the underwriters' option to purchase additional shares is exercised. Crescent Biopharma is a clinical-stage biotechnology company focused on developing oncology therapies for cancer patients.

Crescent Biopharma, Inc. reported preliminary unaudited cash and cash equivalents of approximately $171.6 million as of June 30, 2026. The company is a biopharmaceutical company focused on developing and commercializing biopharmaceutical products.