Company research
CRESCENT BIOPHARMA, INC.
CIK 1253689Updated Sep 27, 2026
SecurityCBIO · NASDAQ · equity
Name history
GLYCOMIMETICS INC · through Jun 23, 2025
CBIO price & chart
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NASDAQ:CBIO on TradingView ↗About the company
We are a clinical-stage biotechnology company focused on delivering the next wave of transformative therapies to bring a brighter future for people living with cancer. We have a bold vision to build the next leading biotechnology oncology company. We are executing across two distinct strategies to build our portfolio to achieve this vision. First, we are developing CR-001, which we refer to as a PD-1 x VEGF bispecific antibody because it is designed to bind both the PD-1 immune checkpoint (“PD-1”) and Vascular Endothelial Growth Factor (“VEGF”), which has potential to replace pembrolizumab, marketed by Merck as Keytruda®, as the foundational immuno-oncology backbone; second, we are building a robust portfolio of potentially best-in-class antibody drug conjugates (“ADCs”). Importantly, as we execute on these two strategies, we intend to combine CR-001 and ADC therapies to create what we believe will be best-in-class synergistic combinations to transform care for multiple types of cancer. We anticipate initiation of CR-001, CR-002 and CR-003 monotherapy clinical trials in 2026 as well as the first ADC combination trial with CR-001.
In the news
Crescent Biopharma Announces Grants of Inducement Awards ↗
Seeking Alpha
The Nascent Crescent Biopharma Thesis: One Year Later And Things Are Steady ↗
Crescent Biopharma, Inc. (CBIO) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript ↗
Crescent Biopharma: Intriguing Developer Of ADC/PD1-VEGF Assets May Not Be Sufficiently Derisked ↗
Recent filings
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 240,293,000Source | 11,091,454Source | 45,316,475Source | 51,810,589Source |
| Property, Plant and Equipment, NetUSD | 846,000Source | — | — | 242,390Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 213,192,000Source | 10,720,178Source | 41,792,830Source | 47,870,619Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 18,000,000Source | — | — | — |
| Assets, CurrentUSD | 236,655,000Source | 11,091,454Source | 43,790,734Source | 50,714,705Source |
| Prepaid Expense and Other Assets, CurrentUSD | 5,463,000Source | 371,276Source | 1,997,904Source | 2,844,086Source |
| Operating Lease, Right-of-Use AssetUSD | 1,469,000Source | — | 767,828Source | 751,174Source |
| Other Assets, NoncurrentUSD | 1,216,000Source | — | — | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 37,281,000Source | 5,777,892Source | 6,902,074Source | 8,880,752Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 28,000Source | 64,484Source | 64,394Source | 54,378Source |
| Additional Paid in CapitalUSD | 370,793,000Source | 499,613,448Source | 494,835,219Source | 462,461,251Source |
| Retained Earnings (Accumulated Deficit)USD | -171,809,000Source | -494,364,370Source | -456,485,212Source | -419,585,792Source |
| Stockholders' Equity Attributable to ParentUSD | 203,012,000Source | 5,313,562Source | 38,414,401Source | 42,929,837Source |
| Liabilities and EquityUSD | 240,293,000Source | 11,091,454Source | 45,316,475Source | 51,810,589Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 36,072,000Source | 5,777,892Source | 6,835,230Source | 8,880,752Source |
| Operating Lease, Liability, CurrentUSD | 435,000Source | 66,844Source | 741,558Source | 918,555Source |
| Accounts Payable, CurrentUSD | — | 329,304Source | 868,115Source | 970,191Source |
| Operating Lease, Liability, NoncurrentUSD | 1,209,000Source | — | 66,844Source | — |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 16,344,000Source | 5,381,744Source | 5,225,557Source | 6,992,006Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | -37,879,158Source | -36,899,420Source | -46,688,802Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 13,300,000Source | 4,697,546Source | 3,524,476Source | 3,857,580Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 18,000,000Source | — | — | — |
| Increase (Decrease) in Accounts PayableUSD | — | -538,811Source | -102,076Source | -1,137,424Source |
| Deferred Income Tax Expense (Benefit)USD | 0Source | — | — | — |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -71,532,000Source | -31,098,078Source | -34,879,903Source | -46,457,488Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -72,919,000Source | 20,028Source | -21,394Source | -84,191Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 919,000Source | 9,972Source | 21,394Source | 84,191Source |
| Cash flows from financing activities: | ||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 322,984,000Source | 5,398Source | 28,823,508Source | 4,157,408Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 178,533,000Source | -31,072,652Source | -6,077,789Source | -42,384,271Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 213,299,000Source | — | — | — |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 13,300,000Source | 4,697,546Source | 3,524,476Source | 3,857,580Source |
| DepreciationUSD | 84,000Source | 35,174Source | 153,301Source | 207,145Source |
| Gain (Loss) on Disposition of AssetsUSD | — | 1,224,945Source | — | — |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | -46,654Source | -8,627Source | -3,498Source |
| General and Administrative ExpenseUSD | 25,390,000Source | 18,249,318Source | 19,213,637Source | 19,087,443Source |
| Income Tax Expense (Benefit)USD | 2,000,000Source | — | — | — |
| InterestExpenseNonoperatingUSD | 2,185,000Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | -153,942,000Source | -37,879,158Source | -36,899,420Source | -46,688,802Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -133,446,000Source | — | — | — |
| Nonoperating Income (Expense)USD | — | 2,160,220Source | — | — |
| Operating ExpensesUSD | 163,476,000Source | 40,039,378Source | 39,285,293Source | 47,478,322Source |
| Operating Lease, Impairment LossUSD | — | 365,179Source | — | — |
| Proceeds from Issuance of Common StockUSD | 0Source | — | 28,707,011Source | 4,157,408Source |
| Proceeds from Stock Options ExercisedUSD | 5,000Source | — | — | — |
| Restructuring Costs and Asset Impairment ChargesUSD | — | 7,530,304Source | — | — |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | 10,000Source | 75,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 10,844,000Source | — | — | — |
| Operating Income (Loss)USD | -152,632,000Source | -40,039,378Source | -39,275,293Source | -47,403,322Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -151,942,000Source | — | — | — |
| Income Tax Expense (Benefit)USD | 2,000,000Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | -153,942,000Source | -37,879,158Source | -36,899,420Source | -46,688,802Source |
| Earnings Per Share, BasicUSD per share | — | -0.59Source | -0.58Source | -0.89Source |
| Earnings Per Share, DilutedUSD per share | — | -0.59Source | -0.58Source | -0.89Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | 64,477,249Source | 63,342,465Source | 52,531,173Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | 64,477,249Source | 63,342,465Source | 52,531,173Source |
| Interest Expense (non-operating)USD | 2,185,000Source | — | — | — |
| Additional Financial Items | ||||
| Current Income Tax Expense (Benefit)USD | 2,000,000Source | — | — | — |
| General and Administrative ExpenseUSD | 25,390,000Source | 18,249,318Source | 19,213,637Source | 19,087,443Source |
| Interest Income (Expense), Nonoperating, NetUSD | — | 935,275Source | 2,375,873Source | 714,520Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -133,446,000Source | — | — | — |
| Nonoperating Income (Expense)USD | — | 2,160,220Source | — | — |
| Operating ExpensesUSD | 163,476,000Source | 40,039,378Source | 39,285,293Source | 47,478,322Source |
| Research and Development ExpenseUSD | 138,086,000Source | 14,259,756Source | 20,071,656Source | 28,390,879Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | 10,000Source | 75,000Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | -20,496,000Source | — | — | — |
Offerings
Registration 333-292600
Registration 333-285035
Filing attachments
tm2518203d1_ex99-1.htm · 8-K · 2025-06-18
EX-99.1 16 tm2518203d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Crescent Biopharma Completes Closing of Merger with GlycoMimetics and Previously Announced Private Placement of $200 Million Advancing Lead Program, CR-001, a PD-1 x VEGF Bispecific Antibody, and Developing Pipeline of Novel ADCs as Single Agents and in Combination with CR-001 On Track to Submit IND Application for CR-001 in Fourth Quarter of 2025 with Proof-of-Concept Clinical Data Expected in Second Half of 2026 Shares to Begi…
Read attachment ↗tm2518203d1_ex99-2.htm · 8-K · 2025-06-18
EX-99.2 17 tm2518203d1_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 CRESCENT BIOPHARMA, INC. CONDENSED BALANCE SHEETS (UNAUDITED) (in thousands except share and per share amounts) March 31, …
Read attachment ↗tm2517051d1_ex99-1.htm · 8-K · 2025-06-06
EX-99.1 2 tm2517051d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 GlycoMimetics Stockholders Approve Proposed Merger with Crescent Biopharma and All Related Proposals - GlycoMimetics Board of Directors approves 1-for-100 reverse stock split - ROCKVILLE, Md., June 5, 2025 - GlycoMimetics, Inc. (Nasdaq: GLYC) (“GlycoMimetics”) today announced that its stockholders have approved the proposed merger (the “Merger”) with Crescent Biopharma, Inc. (“Crescent”), along with all proposals related to the Me…
Read attachment ↗tm256615d4_ex4-3.htm · S-4/A · 2025-04-04
EX-4.3 2 tm256615d4_ex4-3.htm EXHIBIT 4.3 Exhibit 4.3 FORM OF PRE-FUNDED WARRANT TO PURCHASE COMMON STOCK Number of Shares: [· ] (subject to adjustment) Warrant Original No. [·] Issue Date: [·], 2025 Crescent Biopharma, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [· ] or its registered assigns (the “Holder”), is entitled, subject to the terms set fort…
Read attachment ↗glyc-20241231xex99d1.htm · S-4 · 2025-02-18
EX-99.1 20 glyc-20241231xex99d1.htm EXHIBIT-99.1 Exhibit 99. 1 Consent to be Named as a Director GlycoMimetics, Inc. is filing a Registration Statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”). In connection therewith, I hereby consent, pursuant to Rule 438 of the Securities Act, to being named in the Registration Statement and any and all amendments and supplements thereto as …
Read attachment ↗glyc-20241231xex99d2.htm · S-4 · 2025-02-18
EX-99.2 21 glyc-20241231xex99d2.htm EXHIBIT-99.2 Exhibit 99. 2 Consent to be Named as a Director GlycoMimetics, Inc. is filing a Registration Statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”). In connection therewith, I hereby consent, pursuant to Rule 438 of the Securities Act, to being named in the Registration Statement and any and all amendments and supplements thereto as …
Read attachment ↗