CRESCENT BIOPHARMA, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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Consolidated Statements of Operations and omprehensive Loss
CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share amounts)
| Twelve Months Ended December 31, 2025 | Period from September 19, 2024 (Inception) Through December 31, 2024 | |
|---|---|---|
| License revenue | $10,844 | $— |
| Operating expenses | ||
| Research and development(1) | 138,086 | 14,034 |
| General and administrative(2) | 25,390 | 3,157 |
| Total operating expenses | 163,476 | 17,191 |
| Loss from operations | (152,632) | (17,191) |
| Other income (expense): | ||
| Interest income | 2,875 | 176 |
| Interest expense(3) | (2,185) | (852) |
| Loss before provision for income taxes | (151,942) | (17,867) |
| Provision for income taxes | (2,000) | — |
| Net loss and comprehensive loss | $(153,942) | $(17,867) |
| Net loss per share attributable to ordinary shareholders, basic and diluted | $(12.81) | $(23.28) |
| Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic and diluted | $(12,818.01) | — |
| Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic and diluted | 10,413,649 | 767,580 |
| Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic and diluted | 1,599 | — |
(1)Includes related party amount of $23,653 for the twelve months ended months ended December 31, 2025 and $13,185 for the period from September 19, 2024 (inception) through December 31, 2024.
(2)Includes related party amount of $720 for the twelve months ended months ended December 31, 2025 and $571 for the period from September 19, 2024 (inception) through December 31, 2024.
(3)Includes related party amount of $865 for the twelve months ended December 31, 2025 and $341 for the period from September 19, 2024 (inception) through December 31, 2024.
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