Crescent Biopharma, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
Loading chart…
Third-party market data · may be delayed
Under review: data-quality checks not passed.
Under review: data-quality checks not passed. We'll show the comparison once resolved.
Crescent Biopharma, Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Crescent Biopharma has little or no product revenue yet; it used $74m of cash in the twelve months to June 2026. It passes 2 of our 2 financial-health checks.
Our model value for Crescent Biopharma is under review, so past values are not shown until it is resolved.
Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -88.6% (-122.2pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Loading chart…
Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
| At fiscal year end | 2015 | 2016 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Share price | $514.96 | $549.17 | $338.50 | $129.64 | $278.92 | $236.00 |
| Market value | $9.8bn | $11.7bn | $15.5bn | $6.7bn | $14.7bn | $14.9bn |
| + Net debt (− = net cash) | −$47m | −$40m | −$137m | −$90m | −$48m | −$42m |
| Enterprise value | $9.7bn | $11.6bn | $15.3bn | $6.6bn | $14.6bn | $14.9bn |
| Multiples | ||||||
| Price / sales | n/m | n/m | n/m | n/m | n/m | n/m |
| Price / earnings | — | — | — | — | — | — |
| Price / free cash flow | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$2.35 | +82% | $2m | 0% |
| Next | −$2.63 | −12% | $5m | +177% |
The consensus EPS forecast for the current fiscal year is −5.6% on 90 days ago. In the last 30 days, 1 analyst raised Crescent Biopharma, Inc.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$2.49 | −$2.98 |
| 60 days ago | −$2.35 | −$2.63 |
| 30 days ago | −$2.35 | −$2.63 |
| 7 days ago | −$2.35 | −$2.63 |
| Now | −$2.35 | −$2.63 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.64 | −$0.62 | +2.8% |
| Mar 2026 | −$0.79 | −$0.70 | +11.0% |
| Dec 2025 | −$2.82 | −$4.92 | −74.5% |
| Sept 2025 | −$1.39 | −$1.37 | +1.3% |
Adjusted EPS as companies report it, against the average analyst estimate.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| CBIO | −62% | +115% | −15% | −89% | −53% | +9% |
| Industry peers (median) | −35% | −57% | −18% | −28% | −5% | −27% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| CBIO | 17% | 50% | 42% | 33% | 42% | 36% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| CBIO | −66% | −66% | −72% | −96% | −72% | −56% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 100% from February 15, 2018 to February 13, 2026. Getting back needed a 25428% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| July 30, 2026 | −2.0% | +2.4% | +11.2% | +20.2% |
| July 14, 2026 | −0.1% | +0.8% | +6.1% | +4.7% |
| April 29, 2026 | −6.6% | +1.0% | −24.6% | −13.8% |
| February 26, 2026 | −3.2% | −1.0% | −9.3% | +21.4% |
| November 6, 2025 | +5.6% | −1.0% | +4.4% | +6.0% |
| July 31, 2025 | −4.8% | −2.0% | −12.7% | +14.3% |
| June 18, 2025 | +13.0% | −0.2% | +27.4% | −0.5% |
| May 6, 2024 | −83.1% | +1.1% | −85.8% | −85.2% |
| March 27, 2024 | +5.3% | +0.8% | −4.9% | −42.5% |
| November 3, 2023 | +3.1% | +1.1% | −7.0% | +27.1% |
| August 2, 2023 | −1.8% | −1.7% | −3.6% | −3.0% |
| May 3, 2023 | +3.5% | −1.4% | +24.8% | +34.8% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY14 Q2 | $15.2M |
| FY14 Q3 | $15.1M |
| FY14 Q4 | $15M |
| FY15 Q1 | $15M |
| FY15 Q2 | $20M |
| FY15 Q3 | $20M |
| FY15 Q4 | $20.1M |
| FY20 Q4 | $10.2M |
| FY21 Q1 | $2.2M |
| FY21 Q2 | $2.2M |
| FY21 Q3 | $1.3M |
| FY21 Q4 | $1.2M |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY14 Q4 | 276.4% |
| FY15 Q1 | 8020.2% |
| FY15 Q2 | 32.2% |
| FY15 Q3 | 32.6% |
| FY15 Q4 | 33.6% |
| FY21 Q4 | -88.6% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY14 Q2 | -30.4% |
| FY14 Q3 | -50.4% |
| FY14 Q4 | -74.1% |
| FY15 Q1 | -87.5% |
| FY15 Q2 | -54.0% |
| FY15 Q3 | -56.4% |
| FY15 Q4 | -63.7% |
| FY20 Q4 | -506.8% |
| FY21 Q1 | -2600.2% |
| FY21 Q2 | -2613.5% |
| FY21 Q3 | -4719.2% |
| FY21 Q4 | -5470.7% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY14 Q2 | -16.3% |
| FY14 Q3 | -25.8% |
| FY14 Q4 | -29.9% |
| FY15 Q1 | -70.5% |
| FY15 Q2 | -130.2% |
| FY15 Q3 | -38.5% |
| FY15 Q4 | -42.4% |
| FY20 Q4 | -386.8% |
| FY21 Q1 | -2250.8% |
| FY21 Q2 | -2208.2% |
| FY21 Q3 | -4169.8% |
| FY21 Q4 | -4958.3% |
| Fiscal year | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||
| Revenue | 15 | 4 | 15 | 20 | 0 | 10 | 1 | 0 | 0 | 11 |
| EBITDA | 4 | −10 | −11 | −13 | −32 | −51 | −63 | −47 | −39 | −153 |
| Operating income | 4 | −11 | −11 | −13 | −32 | −52 | −63 | −47 | −39 | −153 |
| Net income | 4 | −11 | −11 | −13 | −32 | −51 | −63 | −47 | −37 | −154 |
| Diluted EPS | $0.02 | −$0.59 | −$0.60 | −$0.67 | −$1.50 | −$1.12 | −$1.23 | −$0.89 | −$0.58 | — |
| Growth (year on year) | ||||||||||
| Revenue | — | −73.8% | +276.4% | +33.6% | −99.9% | +>999% | −88.6% | −93.5% | −86.7% | +>999% |
| EBITDA | — | −380.4% | — | — | — | — | — | — | — | — |
| Operating income | — | −391.8% | — | — | — | — | — | — | — | — |
| Net income | — | −390.1% | — | — | — | — | — | — | — | — |
| Diluted EPS | — | <−999% | — | — | — | — | — | — | — | — |
| Margins | ||||||||||
| EBITDA margin | 24.5% | −262.3% | −73.1% | −62.7% | <−999% | −504.2% | <−999% | <−999% | <−999% | <−999% |
| Operating margin | 23.8% | −265.7% | −74.1% | −63.7% | <−999% | −506.8% | <−999% | <−999% | <−999% | <−999% |
| Net margin | 24.0% | −265.6% | −74.0% | −63.6% | <−999% | −502.1% | <−999% | <−999% | <−999% | <−999% |
| Free-cash-flow margin | −70.7% | −391.2% | −29.9% | −42.4% | <−999% | −386.8% | <−999% | <−999% | <−999% | −668.1% |
| Cash flow | ||||||||||
| Cash from operations | −10 | −16 | −4 | −8 | −30 | −39 | −57 | −46 | −35 | −72 |
| Capital spending | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 |
| Free cash flow | −11 | −16 | −4 | −9 | −30 | −39 | −58 | −47 | −35 | −72 |
| Stock-based pay | 0 | 0 | 2 | 2 | 3 | 7 | 6 | 4 | 4 | 13 |
| Free cash flow after stock pay | −11 | −16 | −6 | −11 | −33 | −46 | −64 | −50 | −38 | −86 |
| Balance sheet | ||||||||||
| Cash | 17 | 2 | 55 | 47 | 40 | 137 | 90 | 48 | 42 | 213 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −17 | −2 | −55 | −47 | −40 | −137 | −90 | −48 | −42 | −213 |
| Diluted shares | 165m | 18m | 18m | 19m | 21m | 46m | 51m | 53m | 63m | — |
| Quarter | 2022 Q2 Jun 2022 | 2022 Q3 Sept 2022 | 2022 Q4 Dec 2022 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| EBITDA | −13 | −9 | −11 | −17 | −14 | −21 | −25 | −26 |
| Operating income | −13 | −9 | −11 | −17 | −14 | −21 | −25 | −26 |
| Net income | −13 | −9 | −10 | −18 | −15 | −22 | −23 | −25 |
| Diluted EPS | −$0.25 | −$0.16 | −$0.19 | −$0.11 | — | — | — | — |
| Growth (year on year) | ||||||||
| Revenue | +>999% | −100.0% | −100.0% | — | — | — | — | — |
| Margins | ||||||||
| EBITDA margin | <−999% | — | — | — | — | — | <−999% | — |
| Operating margin | <−999% | — | — | — | — | — | <−999% | — |
| Net margin | <−999% | — | — | — | — | — | <−999% | — |
| Free-cash-flow margin | <−999% | — | — | — | — | — | −874.3% | — |
| Cash flow | ||||||||
| Cash from operations | −16 | −9 | −8 | −6 | −11 | −16 | −9 | −19 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −16 | −9 | −8 | −6 | −11 | −17 | −9 | −19 |
| Stock-based pay | 1 | 1 | 1 | 1 | 1 | 5 | 4 | 4 |
| Free cash flow after stock pay | −17 | −10 | −9 | −7 | −12 | −22 | −13 | −23 |
| Last 12 months unless stated | CBIO | LGVN | STTK | DARE | MNOV | RNAC | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1m | $1m | $1m | $1m | $920481 | $1m | $55m |
| Revenue growth, last 12 months | −88.6% | −42.7% | −66.6% | >999% | 875.7% | 44.0% | 12.2% |
| Revenue growth, 3-year average | 84.4% | 10.4% | 5.2% | — | — | −68.8% | 14.3% |
| Revenue growth, latest quarter | −100.0% | −9.2% | −66.6% | 499.6% | 240.6% | −100.0% | 10.2% |
| Gross margin | — | 69.8% | — | — | 100.0% | — | 82.9% |
| Operating margin | <−999% | <−999% | <−999% | −813.4% | <−999% | <−999% | −191.1% |
| Operating margin, 3-year average | <−999% | <−999% | <−999% | >999% | −905.8% | <−999% | −365.3% |
| Net margin | <−999% | <−999% | <−999% | −804.4% | <−999% | <−999% | −172.8% |
| Cash from operations / revenue | <−999% | <−999% | <−999% | −826.8% | −989.7% | <−999% | −168.8% |
| Free-cash-flow margin | <−999% | <−999% | <−999% | −860.6% | −991.2% | <−999% | −168.1% |
| Free-cash-flow margin, 3-year average | <−999% | <−999% | <−999% | >999% | <−999% | <−999% | −313.4% |
| Stock pay / revenue | 524.9% | 132.8% | 853.2% | 110.0% | 100.3% | 625.6% | 20.7% |
| Change in share count | 1.8% | — | 15.3% | 62.5% | 0.2% | 143.3% | 8.1% |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| FMR LLC | $74.4M | 4.1M | 14.2% | 0.0% |
| Bvf Inc | $49.5M | 2.7M | 9.4% | 0.0% |
| Fairmount Funds Management LLC | $49.5M | 2.7M | 9.4% | 0.0% |
| Venrock Adviser, LLC | $38.4M | 2.1M | 7.3% | 0.0% |
| Logos Global Management LP | $34.2M | 1.9M | 6.5% | ▲ 293.8% |
| Fcpm Iii Services B.V. | $30.2M | 1.7M | 5.8% | 0.0% |
| Balyasny Asset Management L.P. | $29.9M | 1.7M | 5.7% | ▲ 10.1% |
| Vestal Point Capital, LP | $29.3M | 1.6M | 5.6% | ▲ 8.7% |
| Opaleye Management Inc. | $23.7M | 1.3M | 4.5% | ▲ 0.5% |
| Blackrock, Inc. | $22.9M | 1.3M | 4.4% | ▲ 999.0% |
| Tang Capital Management LLC | $20.9M | 1.2M | 4.0% | 0.0% |
| Vanguard Capital Management LLC | $13.8M | 768K | 2.6% | ▼ 4.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Crescent Biopharma, Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Mcneill Jonathan President and COO | September 18, 2026 | Sell pre-set plan | 3,839 | $16.71 | $64,150 |
| Brumm Joshua T Chief Executive Officer | September 18, 2026 | Sell pre-set plan | 7,837 | $16.71 | $130,956 |
| Mcneill Jonathan President and COO | September 16, 2026 | Sell pre-set plan | 731 | $17.90 | $13,085 |
| Brumm Joshua T Chief Executive Officer | September 16, 2026 | Sell pre-set plan | 1,610 | $17.90 | $28,819 |
| Bispham Barbara Harlin See Remarks | September 16, 2026 | Sell pre-set plan | 620 | $17.90 | $11,098 |
| Scalzo Richard William Chief Financial Officer | September 16, 2026 | Sell pre-set plan | 568 | $17.90 | $10,167 |
| Im Ellie Eunkyung Chief Medical Officer | September 16, 2026 | Sell pre-set plan | 623 | $17.90 | $11,152 |
| Pinkas Jan Chief Scientific Officer | September 16, 2026 | Sell pre-set plan | 658 | $17.90 | $11,778 |
| Lynch Ryan See Remarks | September 16, 2026 | Sell pre-set plan | 240 | $17.90 | $4,296 |
| Fairmount Healthcare Fund Ii L.P. Director | July 16, 2026 | Buy | 853,450 | $14.50 | $12.4M |
| Brumm Joshua T Chief Executive Officer | June 22, 2026 | Sell pre-set plan | 42,305 | $17.99 | $761,067 |
| Mcneill Jonathan President and COO | June 22, 2026 | Sell pre-set plan | 20,549 | $17.99 | $369,677 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
New research on the companies we cover arrives in the weekly email. Free, one email a week.
