Quarterly ResultApr 29, 2026, 04:40 PM
CBIO Q1 Net Loss $23.3M; Pipeline Progress & 2027 Data Readouts
AI Summary
Crescent Biopharma reported a Q1 2026 net loss of $23.3 million, or $0.70 per share, on $1.0 million in revenue, up from no revenue in the prior year. The company highlighted significant progress in its clinical pipeline, with the ASCEND Phase 1/2 trial for CR-001 ongoing and two new trials for CR-001 and CR-002 on track to initiate in the second half of 2026. Multiple key clinical data readouts are anticipated to begin in Q1 2027 across its CR-001, CR-002, and CR-003 programs.
Key Highlights
- Q1 2026 net loss was $23.3 million, or $0.70 per basic and diluted share.
- Q1 2026 revenue was $1.0 million, up from $0 in Q1 2025, from Kelun-Biotech upfront payment.
- Cash and cash equivalents totaled $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.
- ASCEND Phase 1/2 trial for CR-001 ongoing; first ADC combination trial with CR-001 to initiate in H2 2026.
- CR-002 on track to enter clinic in H2 2026; CR-003 Phase 1/2 trial ongoing in China.
- Proof-of-concept data for CR-001 and CR-003 expected in Q1 2027, with CR-002 data in H2 2027.
Price Impact
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