CRESCENT BIOPHARMA, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 09/19/24 | FY 12/31/23 | FY 12/31/22 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $10.8M | — | — | $10,000 | $75,000 |
| Research and development | $138.1M | $14.3M | — | $20.1M | $28.4M |
| Operating expenses | $163.5M | $40.0M | — | $39.3M | $47.5M |
| Operating income | -$152.6M | -$40.0M | — | -$39.3M | -$47.4M |
| Interest expense | $2.2M | — | — | — | — |
| Pretax income | -$151.9M | — | — | — | — |
| Income tax expense | $2.0M | — | — | — | — |
| Net income | -$153.9M | -$37.9M | — | -$36.9M | -$46.7M |
| Balance Sheet | |||||
| Cash and equivalents | $213.2M | $34.8M | — | $41.8M | $47.9M |
| Current assets | $236.7M | $34.8M | — | $43.8M | $50.7M |
| Total assets | $240.3M | $35.6M | — | $45.3M | $51.8M |
| Current liabilities | $36.1M | $9.6M | — | $6.8M | $8.9M |
| Total liabilities | $37.3M | $47.1M | — | $6.9M | $8.9M |
| Stockholders' equity | $203.0M | -$15.5M | $0 | $38.4M | $42.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$71.5M | -$31.1M | — | -$34.9M | -$46.5M |
| Depreciation and amortization | $84,000 | $35,174 | — | $153,301 | $207,145 |
| Stock-based compensation | $13.3M | $4.7M | — | $3.5M | $3.9M |
| Capital expenditure | $919,000 | $9,972 | — | $21,394 | $84,191 |
| Free cash flow | -$72.5M | -$31.1M | — | -$34.9M | -$46.5M |
| Share repurchases | $177,000 | — | — | — | — |
Shares outstanding 27.6M
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.