CRESCENT BIOPHARMA, INC.
For the period ended Mar 31, 2026. Filed Apr 29, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 29, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Three Months EndedMarch 31, 2026 | Three Months Ended March 31, 2025 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(23,283) | $(15,148) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Share-based compensation expense(1) | 4,113 | 1,229 |
| Depreciation expense | 64 | — |
| Non-cash interest expense | — | 2 |
| Non-cash lease expense | 97 | — |
| Changes in operating assets and liabilities: | ||
| Accounts payable | (2,312) | 518 |
| Accrued expenses and other current liabilities(2) | (3,456) | 1,759 |
| Related party accounts payable and other current liabilities | (140) | 1,160 |
| Deferred revenue | (1,039) | — |
| Operating lease liability | (101) | — |
| Accounts receivable | 18,000 | — |
| Prepaid expenses and other current assets | (937) | (371) |
| Other assets | 57 | — |
| Net cash used in operating activities | (8,937) | (10,851) |
| Cash flows from investing activities: | ||
| Purchase of research and development license | (8,000) | — |
| Purchases of property and equipment | (147) | — |
| Net cash used in investing activities | (8,147) | — |
| Cash flows from financing activities: | ||
| Proceeds from early exercise of options | — | 5 |
| Payment of debt issuance costs | — | (2) |
| Payment of deferred offering costs | (6,945) | (1,489) |
| Net cash used in financing activities | (6,945) | (1,486) |
| Net decrease in cash, cash equivalents, and restricted cash | (24,029) | (12,337) |
| Cash, cash equivalents, and restricted cash at beginning of period | 213,299 | 34,766 |
| Cash, cash equivalents, and restricted cash at end of period | $189,270 | $22,429 |
| Supplemental disclosure of non-cash operating and financing activities: | ||
| Vesting of early exercised stock options | $5 | $— |
| Deferred financing costs included in accounts payable and accrued expenses | $— | $518 |
(1)Includes related party amount of $423 and $763, for the three months ended March 31, 2026 and March 31, 2025, respectively.
(2)Includes related party amount of $0 and $784 for the three months ended March 31, 2026 and March 31, 2025, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.