CRESCENT BIOPHARMA, INC.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, are forward-looking statements, including, without limitation, statements regarding:

•the success, cost, timing and potential indications of our product development activities and clinical trials;

•our ability to advance clinical development of, and ultimately obtain approval from, the U.S. Food and Drug Administration (“FDA”) and other regulatory agencies in countries outside of the U.S. for our product candidates;

•our research and development plans and ability to identify and bring forward additional product candidates into preclinical and clinical development;

•the rate and degree of market acceptance of our product candidates, including our ability to successfully compete with existing therapies and therapies currently in development, and our expectations regarding the size of the commercial markets for our product candidates;

•our future marketing and sales programs;

•the scope of protection we are able to establish and maintain for intellectual property rights covering product candidates;

•our use of net proceeds from financing activities, including the availability of and our ability to obtain additional financing and to continue as a going concern;

•the effects of existing and future federal, state and foreign regulations and our expectations regarding the impact of macroeconomic conditions and geopolitical conflicts on our business and operations;

•the seeking and execution of joint development, licensing or distribution and collaboration and marketing arrangements with third parties;

•the period of time for which our existing cash and cash equivalents will enable us to fund our operations; and

•our relationship with Paragon Therapeutics, Inc., Fairmount Funds Management LLC, and Parascent Holding LLC.

Forward-looking statements generally relate to future events or our future financial or operating performance. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “predict,” “target,” “intend,” “could,” “would,” “should,” “project,” “plan,” “expect,” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

These forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to differ materially from current expectations include the initiation, execution and completion of clinical trials, uncertainties surrounding the timing of availability of data from our clinical trials, ongoing discussions with and actions by regulatory authorities, our development activities and those other factors we discuss in “Summary Risk Factors,” Part II, Item 1A. “Risk Factors,” and Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Quarterly Report on Form 10-Q (“Form 10-Q”). You should read these risk factors and the other cautionary statements made in this report as being applicable to all related forward-looking statements wherever they appear in this report. The risk factors are not exhaustive and other sections of this report may include additional factors which could adversely impact our business and financial performance.

Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Preliminary and interim results from any trial and results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. Moreover, we operate in a very competitive and rapidly changing environment. New

ii risk factors emerge from time to time, and it is not possible for our management to predict all risk factors nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements. Given these uncertainties, you should not rely on these forward-looking statements as predictions of future events. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.

As used in this Quarterly Report, unless the context suggests otherwise, “we,” “us,” “our,” “the Company,” “Crescent Biopharma, Inc.,” “Crescent,” “GlycoMimetics, Inc.,” “GlycoMimetics,” refers to Crescent Biopharma, Inc. and its consolidated subsidiaries, including Crescent Biopharma Operating Company LLC, taken as a whole.

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