Quarterly ResultApr 29, 2026, 04:35 PM
CBIO Q1 Net Loss $(23.3)M; Cash $189.2M
AI Summary
Crescent Biopharma, Inc. reported a net loss of $(23.3) million for the first quarter of 2026, an increase from $(15.1) million in the same period last year, primarily due to higher research and development expenses. As of March 31, 2026, the company maintained a cash and cash equivalents balance of $189.2 million, which management expects to fund operations for at least the next twelve months. The company continues to be a clinical-stage biotechnology firm with no product sales revenue.
Key Highlights
- Net loss for Q1 2026 was $(23.3) million, compared to $(15.1) million in Q1 2025.
- Research and development expenses increased to $17.9 million in Q1 2026 from $10.6 million in Q1 2025.
- General and administrative expenses rose to $7.9 million in Q1 2026 from $3.6 million in Q1 2025.
- Cash and cash equivalents totaled $189.2 million as of March 31, 2026.
- Net cash used in operating activities was $(8.9) million for the three months ended March 31, 2026.
- The company completed a PIPE financing of approximately $185.0 million in December 2025.
- Accumulated deficit reached $(195.1) million as of March 31, 2026.
Price Impact
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