Crescent Biopharma Q2 FY26 net loss widens to $24.8 million
CBIO•Cash position and clinical trial update
Cash and cash equivalents were $171.6 million; pro forma cash was $305.1 million including $133.5 million net proceeds from July’s offering.
Crescent completed a $143.7 million public offering; the company expects cash to fund operations into the second half of 2028.
The ASCEND Phase 1/2 trial of CR-001 continued enrolling globally; proof-of-concept data is expected in Q1 2027, with additional combination readouts targeted for mid-2027.
Q2 loss widens as research and development spending rises
Crescent Biopharma posted a GAAP net loss of $24.8 million for Q2 2026, or $0.74 per share, versus a loss of $21.8 million.
R&D expense rose to $19.4 million from $12.1 million, driven by higher CMC and clinical activity costs plus personnel-related costs.
