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MARKETS / NASDAQ / CBIO
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Crescent Biopharma, Inc. CBIO

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$10.8M
$-153.9M
$-72.5M
In brief

What this company does

We are a clinical-stage biotechnology company focused on delivering the next wave of transformative therapies to bring a brighter future for people living with cancer. On June 16, 2025, in connection with the reverse recapitalization transaction with Pre-Merger Crescent, we changed our jurisdiction of incorporation from the state of Delaware to the Cayman Islands pursuant to a plan of conversion. We strive to protect the proprietary programs and technologies that we believe are important to our business, including seeking and maintaining patent protection intended to cover the composition of matter of our programs, their methods of use and manufacture, related technologies, diagnostics, and other inventions. As of December 31, 2025, we had 44 full-time employees. None of our employees are represented by a labor union or covered under a collective bargaining agreement.

Written from the business description in Crescent Biopharma, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 10.8M
Revenue, FY2025 · full 14-year series below
Revenue $M Net income $M
FY2025 · Revenue 10.8 · Net income -153.9
8M16M-80M20122014201620182020202220242025
Compound annual growth
+424.9%
+1.3%
−6.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +1.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−1420 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1407.5% · Net -1419.6%
-100000%-200000%-300000%20122014201620182020202220242025
ROE
FY2025 · ROE -164.2%
-100%-200%-300%20122014201620182020202220242025

Each USD of equity lost 164 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -72.5
-25.0M-50.0M20122014201620182020202220242025

Total assetsUSD 240.3M
EquityUSD 203.0M
CashUSD 213.2M
Current ratio6.56×

Equity funds 84% of total assets.

The 14-year record
14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B0.0·0.00.00.00.0···0.00.00.00.00.0
Operating income $B−0.2−0.0−0.0−0.0−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.00.0
EBITDA $B−0.2−0.0−0.0−0.0−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.00.0
Income tax $B0.0·············
Net income $B−0.2−0.0−0.0−0.0−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.00.0
Free cash flow $B−0.1−0.0−0.0−0.0−0.1−0.0−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $·−0.59−0.58−0.89−1.23−1.12−1.34−1.18−1.13−1.50−0.67−0.60−8.870.33
Dividend / sh $··············
Payout %··············
ROE %−164.2−330.3−90.7−75.0−60.5−36.1−32.2−29.7−42.9−84.0−28.0−41.4−137.429.2
Shares out B0.030.000.060.050.050.050.040.040.030.020.020.020.00·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 23 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2012

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