CBIO Stock — Crescent Biopharma Inc.: Cash, EV, Pipeline

Share price

$16.89

Market cap

$627.4M

Cash

$287.5M

Enterprise value

$339.9M

Balance sheet

Cash	$287.5M
Debt	$0.0M
Net cash	$287.5M
Enterprise value	$339.9M
Basic shares	27.8M shares
Fully diluted shares	49.3M shares
Fully diluted market cap	$833.2M
Cash per share	$10.34

Cash figures as of 2026-07-16. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Mar 15 - Apr 26	CR-001	Phase 2	Locally Advanced / Metastatic Solid Tumors	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

CR-001

Phase 1 · Active Modality: bispecific antibody

Target VEGF x PD-1

Partnerships Paragon Therapeutics: worldwide exclusive license for antibodies (up to $22M development/regulatory milestones, incl. $2.5M paid on first human dosing Feb 2026; $3M on first Phase 2 dosing; low-to-mid single-digit royalties). Kelun: out-license for Greater China (Dec 2025; $20M signing payment, $15M transaction price; Kelun initiated a combination study July 2026)

Indications

Locally Advanced / Metastatic Solid Tumors (Phase 2)

Status note Lead program; first patient dosed in Phase 1 trial February 2026. Company is substantially dependent on CR-001. Indication not stated in this filing.

CR-002

Preclinical · Active Modality: antibody-drug conjugate (ADC)

Target PD-L1

Partnerships Paragon Therapeutics: worldwide exclusive license (up to $46M development/regulatory milestones; $5M paid on development-candidate nomination Oct 2025; $5M on first Phase 1 dosing; tiered royalties)

Status note Development candidate nominated October 2025; not yet in the clinic.

CR-003

Stage not disclosed · Active Modality: antibody-drug conjugate (ADC)

Aliases SKB105

Target integrin beta-6

Partnerships Sichuan Kelun-Biotech: exclusive license ex-SKB Territory (Dec 2025 asset acquisition; Kelun obligated to develop/commercialize; revenue-sharing on sub-licensing within 18 months)

Status note Kelun's SKB105, which the company intends to develop as CR-003. The former CR-003 ADC option program with Paragon was terminated March 26, 2026; CR-003 now refers to SKB105.

Per-asset detail extracted from the 10-Q filed 2026-07-30. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	CR-001
Lead indication	Locally Advanced / Metastatic Solid Tumors
Lead phase	Phase 2
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07335497	Phase 2	Recruiting	Sponsor	CBIO	—	Locally Advanced / Metastatic Solid Tumors	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Crescent Biopharma, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Logos Global Management	1,900,000	+1,417,500	1.47%	2026-08-14
RTW Investments	372,856	no change	0.06%	2026-08-14
ADAR1 Capital Management	18,275	-31,998	0.02%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

CBIO — Crescent Biopharma Inc.