CRESCENT BIOPHARMA, INC.
CBIO · Pharmaceutical Preparations · 27.6M shares · +14%/yr ↑ dilution · EDGAR filings ↗
Reference price $17.99 · est. market cap ~$496M — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — deep losses but funded.
Strengths
- Liquidity — current ratio 6.6 (67th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Net lossNet loss (net margin -1419.6%)
- Cash burnNegative free cash flow (-72.5M)
- Chronic dilutionShare count +14%/yr over 3y (dilution, book value/share -113%)
- Strong balance sheetStrong balance sheet — $213M cash & investments, ~12 quarters of runway
- Insider sellingInsider selling — 7 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-1407.5%
Net margin
-1419.6%
Return on equity
-75.8%
Return on assets
-64.1%
Current ratio
6.6×
Free cash flow
-$72M
Tangible book value
$203M
Cash & investments
$213M
Cash runway
12q
Stock comp / revenue
122.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Lynch Ryan | Sell | 465 | $17.99 |
| 2026-06-22 | Pinkas Jan | Sell | 1.3K | $17.99 |
| 2026-06-22 | Scalzo Richard William | Sell | 1.1K | $17.99 |
| 2026-06-22 | Bispham Barbara Harlin | Sell | 1.2K | $17.99 |
| 2026-06-22 | Im Ellie Eunkyung | Sell | 1.2K | $17.99 |
| 2026-06-22 | McNeill Jonathan | Sell | 21K | $17.99 |
| 2026-06-22 | Brumm Joshua T | Sell | 42K | $17.99 |
| 2025-12-15 | Pinkas Jan | Grant | 18K | — |
| 2025-12-15 | Pinkas Jan | Grant | 5.0K | — |
| 2025-12-15 | Doughty Christopher Grant | Grant | 15K | — |
| 2025-12-15 | Doughty Christopher Grant | Grant | 8.0K | — |
| 2025-12-15 | Brumm Joshua T | Grant | 45K | — |
| 2025-12-15 | Brumm Joshua T | Grant | 10K | — |
| 2025-12-15 | Scalzo Richard William | Grant | 14K | — |
| 2025-12-15 | Scalzo Richard William | Grant | 5.0K | — |
| 2025-12-15 | McNeill Jonathan | Grant | 20K | — |
| 2025-12-15 | McNeill Jonathan | Grant | 6.0K | — |
| 2025-12-15 | Im Ellie Eunkyung | Grant | 16K | — |
| 2025-12-15 | Im Ellie Eunkyung | Grant | 5.0K | — |
| 2025-12-15 | Lynch Ryan | Grant | 8.4K | — |
| 2025-12-15 | Lynch Ryan | Grant | 4.0K | — |
| 2025-12-15 | Bispham Barbara Harlin | Grant | 12K | — |
| 2025-12-15 | Bispham Barbara Harlin | Grant | 6.0K | — |
| 2025-12-04 | Fairmount Funds Management LLC | Buy | 1.4M | $13.41 |
| 2025-06-13 | BVF PARTNERS L P/IL | Other | 657K | — |
| 2025-06-13 | BVF PARTNERS L P/IL | Other | 557K | — |
| 2025-06-13 | BVF PARTNERS L P/IL | Other | 56K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07335497 ↗ | CR-001 in Adult Participants With Locally Advanced or Metastatic Solid Tumors Locally Advanced / Metastatic Solid Tumors | PHASE1/PHASE2 | Recruiting | 2029-02-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (0)
Suppliers (2)
- Paragon Therapeutics, Inc.
- Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd.
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-03 | Shareholder vote | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2025-12-04 | Material agreement3.02Reg FDOtherExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-07-31 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-06-18 | Material agreementAcquisition/dispositionResults3.03Auditor change5.01Exec/director change5.035.055.06Reg FDExhibits | filing ↗ |
| 2025-06-06 | Shareholder voteReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q/A | 2026-06-22 | 2026-03-31 | 0001628280-26-044713 ↗ |
| 8-K | 2026-06-03 | 2026-06-02 | 0001628280-26-040051 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001628280-26-028386 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001628280-26-028362 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001628280-26-011988 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001628280-26-011983 ↗ |
| 8-K | 2025-12-04 | 2025-12-02 | 0001628280-25-055221 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001628280-25-049865 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001628280-25-049868 ↗ |
| 10-Q | 2025-07-31 | 2025-06-30 | 0001628280-25-036839 ↗ |
| 8-K | 2025-07-31 | 2025-07-29 | 0001628280-25-036846 ↗ |
| 8-K | 2025-06-18 | 2025-06-13 | 0001104659-25-060714 ↗ |