Earnings Releases·Nov 12, 2026, 4:15 PM ET

Crescent Biopharma — Third Quarter 2026 Earnings Summary

Reported a net loss of $37.7 million ($0.90 per share) for Q3 2026, a decrease from $24.6 million ($1.27 per share) in the prior year period, driven by R&D expenses rising to $34.3 million from $20.3 million and G&A increasing to $8.7 million from $5.5 million.
Secured $133.4 million in net proceeds from a July 2026 public offering, bringing cash and cash equivalents to $289.4 million and extending the cash runway into the second half of 2028.
Outlined a 2027–2028 clinical roadmap targeting initial monotherapy data for CR-001 in Q1 2027, APOLLO trial data for CR-002 in H2 2027, and the initiation of Phase 3 trials for CR-001 in early 2028.
Advanced its portfolio with nine IND clearances in 2026 and expanded the CR-001/Kelun-Biotech partnership to include combination trials in China, while the global APOLLO trial for CR-002 has commenced with the first patient dosed.