CRESCENT BIOPHARMA, INC.
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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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.
Jun 30, 2026 · Filed Jul 30, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except share and per share amounts)
| Three Months Ended June 30, 2026 | Six Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | |
|---|---|---|---|---|
| License agreement revenue | $— | $1,039 | $— | $— |
| Operating expenses | ||||
| Research and development(1) | 19,391 | 37,294 | 12,081 | 22,708 |
| General and administrative(2) | 8,743 | 16,608 | 8,949 | 12,547 |
| Total operating expenses | 28,134 | 53,902 | 21,030 | 35,255 |
| Other income | 1,770 | 1,770 | — | — |
| Loss from operations | (26,364) | (51,093) | (21,030) | (35,255) |
| Other income (expense): | ||||
| Interest income | 1,527 | 2,973 | 313 | 502 |
| Interest expense(3) | — | — | (1,073) | (2,185) |
| Total other income (expense) | 1,527 | 2,973 | (760) | (1,683) |
| Net loss and comprehensive loss | $(24,837) | $(48,120) | $(21,790) | $(36,938) |
| Net loss per share attributable to ordinary shareholders, basic and diluted | $(0.74) | $(1.44) | $(4.93) | $(14.11) |
| Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic and diluted | $(743.25) | $(1,442.56) | $(4,930.97) | $(14,104.90) |
| Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic and diluted | 30,532,234 | 30,465,395 | 3,856,925 | 2,331,339 |
| 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 | 2,890 | 2,890 | 565 | 286 |
(1)Includes related party amount of $0 and $2,923 for the three and six months ended June 30, 2026 and $6,292 and $15,069 for the three and six months ended June 30, 2025, respectively.
(2)Includes related party amount of $0 and $0 for the three and six months ended June 30, 2026 and $164 and $630 for the three and six months ended June 30, 2025, respectively.
(3)Includes related party amount of $0 and $0 for the three and six months ended June 30, 2026 and $420 and $865 for the three and six months ended June 30, 2025, respectively.
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