Crescent Biopharma FY 2025 net loss widens to USD 153.9 million

Crescent Biopharma reported FY 2025 license revenue of USD 10.8 million, generated through its Kelun CR-001 license agreement. The company posted a FY 2025 net loss of USD 153.9 million and a loss from operations of USD 152.6 million, as research and development expenses rose to USD 138.1 million and general and administrative expenses increased to USD 25.4 million. Other income (expense) included FY 2025 interest income of USD 2.9 million and interest expense of USD 2.2 million, while income tax provision totaled USD 2.0 million related to corporate withholding tax on the Kelun upfront license fee. Crescent ended FY 2025 with cash and cash equivalents of USD 213.2 million and said it expects existing cash to fund operating plans for at least twelve months from the filing date. Net cash used in operating activities was USD 71.5 million in FY 2025, with net cash used in investing activities of USD 72.9 million and net cash provided by financing activities of USD 323.0 million. On the pipeline and corporate front, Crescent said it initiated ASCEND, a global Phase 1/2 trial of CR-001, in February 2026 and expects to share initial safety, pharmacokinetics and early anti-tumor activity data in Q1 2027. The company also plans to initiate a Phase 1/2 trial of CR-002 in H2 2026 and expects CR-003 (licensed as SKB105 from Kelun outside Greater China) to begin a Phase 1/2 trial in China in Q1 2026. In December 2025, Crescent entered license agreements with Kelun covering CR-001 in Greater China and SKB105 outside Greater China, and closed a private placement in December 2025 for approximately USD 185.0 million in gross proceeds.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Crescent Biopharma Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-011983), on February 26, 2026, and is solely responsible for the information contained therein.