Quarterly ResultApr 29, 2026, 04:18 PM
CBIO Q1 Net Loss $23.3M; CR-001, CR-002, CR-003 Trials Advance
AI Summary
Crescent Biopharma reported a Q1 2026 net loss of $23.3 million, with revenue of $1.0 million primarily from a licensing agreement. The company highlighted significant progress across its clinical pipeline, including ongoing Phase 1/2 trials for CR-001 and CR-003, and CR-002 on track to enter the clinic in H2 2026. Multiple key clinical data readouts are anticipated starting in Q1 2027 for CR-001 and CR-003, and H2 2027 for CR-002. Cash and cash equivalents stood at $189.2 million, expected to fund operations into 2028.
Key Highlights
- Q1 2026 net loss was $23.3 million, compared to $15.1 million in Q1 2025.
- Q1 2026 revenue was $1.0 million, from a $20.0 million upfront payment for CR-001 license.
- Cash and cash equivalents were $189.2 million as of March 31, 2026, funding operations into 2028.
- R&D expenses increased to $17.9 million in Q1 2026 from $10.6 million in Q1 2025.
- CR-001 ASCEND Phase 1/2 trial ongoing; proof-of-concept data expected Q1 2027.
- CR-002 on track to enter clinic in H2 2026; proof-of-concept data expected H2 2027.
- CR-003 Phase 1/2 trial ongoing in China; proof-of-concept data expected Q1 2027.