--- title: "Crescent Biopharma (CBIO) news: reverse merger and going concern" url: "https://aibio.space/companies/crescent-biopharma/" publisher: "aibio.space (Biotech Investor Relations News)" summary: "CBIO reverse merger, going concern and offering news: Crescent still expects GlycoMimetics reverse merger to close in second quarter of 2025." --- CBIO Crescent Biopharma, Inc. NASDAQ · United States # Crescent Biopharma (CBIO) news CBIO reverse merger, going concern and offering news Financings · 2025-12-04 ## [Crescent Biopharma agrees to $185 million private placement and Kelun-Biotech license deals](https://aibio.space/news/crescent-biopharma-agrees-185-million-private-placement-kelun-biotech/) Crescent agreed to sell 13,795,685 ordinary shares at $13.41 for about $185.0 million. Two license deals with Kelun-Biotech require Crescent to pay $80.0 million within 30 days of signing, while Kelun-Biotech pays it $20.0 million in the same period. ## Latest Crescent Biopharma news 1. 2025-06-18 Mergers [GlycoMimetics (now Crescent Biopharma) completes merger and $200 million private financing](https://aibio.space/news/glycomimetics-now-crescent-biopharma-completes-merger-200-million/) Crescent Biopharma completed its merger with GlycoMimetics, and the combined company began trading as CBIO on June 16, 2025. The $200 million financing includes $37.5 million of converted notes. GlycoMimetics's own 2024 10-K had raised going-concern doubt. 2. 2025-02-27 Mergers [Crescent still expects GlycoMimetics reverse merger to close in second quarter of 2025](https://aibio.space/news/crescent-still-expects-glycomimetics-reverse-merger-close-second/) Crescent Biopharma said on February 24, 2025 that it still expects its reverse merger with GlycoMimetics to close in the second quarter of 2025. The merger filing says the deal depends on a financing transaction and on GlycoMimetics stockholder approval. ## Crescent Biopharma at a glance - **Ticker**: CBIO - **Listing**: NASDAQ - **Country**: United States - **Cash, Jun 30, 2026**: $171.6 million ### Related companies - [Mineralys Therapeutics](https://aibio.space/companies/mineralys-therapeutics/) NASDAQ: MLYS - [Evofem Biosciences](https://aibio.space/companies/evofem-biosciences/) OTC: EVFM - [Arrowhead Pharmaceuticals](https://aibio.space/companies/arrowhead-pharmaceuticals/) NASDAQ: ARWR - [Benitec Biopharma](https://aibio.space/companies/benitec-biopharma/) NASDAQ: BNTC - [Monopar Therapeutics](https://aibio.space/companies/monopar-therapeutics/) NASDAQ: MNPR - [Cell Source](https://aibio.space/companies/cell-source/) OTC: CLCS - [Eloxx Pharmaceuticals](https://aibio.space/companies/eloxx-pharmaceuticals/) NASDAQ: ELOX - [MAIA Biotechnology](https://aibio.space/companies/maia-biotechnology/) AMEX: MAIA ### Also on NASDAQ - [CNS Pharmaceuticals](https://aibio.space/companies/cns-pharmaceuticals/) CNSP - [SI-BONE](https://aibio.space/companies/si-bone/) SIBN - [Cognition Therapeutics](https://aibio.space/companies/cognition-therapeutics/) CGTX - [Rigel Pharmaceuticals](https://aibio.space/companies/rigel-pharmaceuticals/) RIGL - [Hemab Therapeutics Holdings](https://aibio.space/companies/hemab-therapeutics/) COAG - [CorMedix](https://aibio.space/companies/cormedix/) CRMD ## What Crescent Biopharma does Crescent Biopharma, Inc. is a clinical-stage biotechnology company focused on cancer. Its lead asset, CR-001, is a PD-1 x VEGF bispecific antibody that the company says has potential to replace pembrolizumab, marketed by Merck as Keytruda, as a foundational immuno-oncology backbone. A global Phase 1/2 trial of CR-001, called the ASCEND trial, was initiated in February 2026, and the company has also started a Phase 1/2 trial in NSCLC and other solid tumors. Its second strategy is a portfolio of antibody drug conjugates. CR-002 is a PD-L1-directed ADC with a topoisomerase toxin, and a Phase 1/2 trial is planned for the second half of 2026. CR-003, an ITGB6-directed ADC, was acquired through a partnership with Sichuan Kelun-Biotech, which also holds exclusive rights to CR-001 in Greater China. A Phase 1/2 trial of CR-003 is anticipated in China in the first quarter of 2026. The company plans to combine CR-001 with its ADCs, and it notes that the CR-003 asset previously was a preclinical ADC under an agreement with Paragon Therapeutics. | Product or program | What it is | Stage | |---|---|---| | CR-001 | PD-1 x VEGF bispecific antibody for solid tumors, as monotherapy or in combination | Phase 1/2 (ASCEND trial initiated February 2026) | | CR-002 | PD-L1-directed antibody drug conjugate with a topoisomerase toxin | Phase 1/2 planned for second half of 2026 | | CR-003 (SKB105) | ITGB6-directed antibody drug conjugate licensed from Sichuan Kelun-Biotech | Phase 1/2 anticipated in China, first quarter of 2026 | Summarised from the company's [10-K filed Feb 26, 2026](https://www.sec.gov/Archives/edgar/data/1253689/000162828026011983/cbio-20251231.htm). ## Crescent Biopharma annual financials | Line | FY2025 | FY2024 | |---|---|---| | Research and development | [$138.1 million](https://www.sec.gov/Archives/edgar/data/1253689/000162828026011983/) | [$14.3 million](https://www.sec.gov/Archives/edgar/data/1253689/000155837025000948/) | | Net income (loss) | [-$153.9 million](https://www.sec.gov/Archives/edgar/data/1253689/000162828026011983/) | [-$37.9 million](https://www.sec.gov/Archives/edgar/data/1253689/000155837025000948/) | | Cash from operations | [-$71.5 million](https://www.sec.gov/Archives/edgar/data/1253689/000162828026011983/) | [-$31.1 million](https://www.sec.gov/Archives/edgar/data/1253689/000155837025000948/) | | Cash and equivalents | [$213.2 million](https://www.sec.gov/Archives/edgar/data/1253689/000162828026050869/) | [$34.8 million](https://www.sec.gov/Archives/edgar/data/1253689/000162828026011983/) | Latest balance sheet, Jun 30, 2026 (10-Q): cash and equivalents $171.6 million. Figures as reported to the SEC in XBRL; each one links to its filing. Not adjusted, not investment advice. ## Questions about Crescent Biopharma Is Crescent Biopharma doing a reverse merger? Our latest story on this, dated Feb 27, 2025: "Crescent still expects GlycoMimetics reverse merger to close in second quarter of 2025". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/crescent-still-expects-glycomimetics-reverse-merger-close-second/). Has Crescent Biopharma issued a going-concern warning? Our latest story on this, dated Jun 18, 2025: "GlycoMimetics (now Crescent Biopharma) completes merger and $200 million private financing". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/glycomimetics-now-crescent-biopharma-completes-merger-200-million/). Has Crescent Biopharma raised money recently? Our latest story on this, dated Dec 4, 2025: "Crescent Biopharma agrees to $185 million private placement and Kelun-Biotech license deals". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/crescent-biopharma-agrees-185-million-private-placement-kelun-biotech/). What is the ticker symbol of Crescent Biopharma? Crescent Biopharma, Inc. trades under the ticker CBIO on NASDAQ. Where is Crescent Biopharma listed? Crescent Biopharma, Inc. is listed on NASDAQ. What is the SEC CIK of Crescent Biopharma? The SEC Central Index Key (CIK) for Crescent Biopharma, Inc. is 1253689. Its filings are on SEC EDGAR. How many shares does Crescent Biopharma have outstanding? 37,143,940 shares as of 2026-07-27, per the cover page of its 10-Q filed 2026-07-30. Which country or territory is Crescent Biopharma listed under? Our directory records Crescent Biopharma, Inc. under United States. What does Crescent Biopharma do? Our directory classifies Crescent Biopharma, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline. What is the ISIN of Crescent Biopharma? The ISIN recorded for Crescent Biopharma, Inc. is KYG2545C1042. Does aibio.space cover Crescent Biopharma? aibio.space lists Crescent Biopharma, Inc. among 2,820 public biotech companies and publishes its news here as stories appear. Where is Crescent Biopharma incorporated? SEC records list its state or country of incorporation as E9. What does Crescent Biopharma develop? Crescent Biopharma, Inc. is a clinical-stage biotechnology company focused on cancer. Its lead asset, CR-001, is a PD-1 x VEGF bispecific antibody that the company says has potential to replace pembrolizumab, marketed by Merck as Keytruda, as a foundational immuno-oncology backbone. What is CR-001 from Crescent Biopharma? CR-001: PD-1 x VEGF bispecific antibody for solid tumors, as monotherapy or in combination Stage: Phase 1/2 (ASCEND trial initiated February 2026). What is CR-002 from Crescent Biopharma? CR-002: PD-L1-directed antibody drug conjugate with a topoisomerase toxin Stage: Phase 1/2 planned for second half of 2026. ## Investor discussion: Crescent Biopharma Members talk about Crescent Biopharma (CBIO). Reader posts, not aibio.space reporting, and not investment advice. Rules 1. **Securities violations are strictly forbidden.** No market manipulation, no pump-and-dump, no false or misleading statements, and no inside information. 2. **Say whether you hold the stock.** Every post states long, short or no position. 3. **No paid or sponsored posts.** Do not post for anyone who pays or rewards you. 4. **No buy or sell calls and no price targets.** 5. **No accusations of crime or fraud against named people** unless you link a court filing or a regulator's release that makes them. 6. **No personal details and no spam.** No links at all for your first 7 days as a member. Posts that break the rules may be deleted without notice, and the account restricted or closed. See the [terms](https://aibio.space/terms/#discussion) and the [privacy policy](https://aibio.space/privacy/#discussion). ## Capital-markets timeline Financings, listing notices, splits, legal actions and other investor events at Crescent Biopharma, newest first. Each line links the filing it comes from. 1. 2026-07-14 Financings Reported a financing. SEC Form 424B5. [Source](https://www.sec.gov/Archives/edgar/data/1253689/000162828026048144/prospectussupplementfollow.htm) 2. 2026-07-01 Financings Set up an at-the-market program to sell shares over time. SEC Form S-3. [Source](https://www.sec.gov/Archives/edgar/data/1253689/000162828026046544/a2026crescent-sx3.htm) 3. 2026-01-07 Financings Filed a registration statement for a share offering. SEC Form S-1. [Source](https://www.sec.gov/Archives/edgar/data/1253689/000162828026001227/cbio-20260107.htm) 4. 2025-12-04 Financings Reported a financing. SEC Form 8-K (Items 1.01,3.02,7.01,8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1253689/000162828025055221/exhibit991-crescentxkelunp.htm) 5. 2025-06-18 Legal Reported a change of independent auditor. SEC Form 8-K (Items 1.01,2.01,2.02,3.03,4.01,5.01,5.02,5.03,5.05,5.06,7.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1253689/000110465925060714/tm2518203d1_ex99-1.htm) 6. 2025-06-06 Listings Reported a shareholder vote on a reverse stock split or more authorized shares. SEC Form 8-K (Items 5.07,7.01,8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1253689/000110465925057078/tm2517051d1_ex99-1.htm) 7. 2025-02-27 Mergers Reported a merger or acquisition agreement. SEC Form 425. [Source](https://www.sec.gov/Archives/edgar/data/1253689/000110465925017675/tm257758d1_425.htm) 8. 2025-02-25 Distress Reported the end of a material agreement. SEC Form 8-K (Items 1.02,5.02). [Source](https://www.sec.gov/Archives/edgar/data/1253689/000155837025001517/glyc-20250219x8k.htm) 9. 2024-12-26 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1253689/000155837024016472/glyc-20241219x8k.htm) ## Stock chart Price chart and quote supplied by TradingView, delayed as the exchange requires. It loads only if you choose to show it. Information only, not investment advice. [Open NASDAQ:CBIO on TradingView](https://www.tradingview.com/symbols/NASDAQ-CBIO/). ## SEC filings and registration - **SEC name**: Crescent Biopharma, Inc. - **CIK**: 1253689 - **Industry (SIC)**: Pharmaceutical Preparations (2834) - **US tickers**: CBIO (Nasdaq) - **State or country of incorporation**: E9 - **Fiscal year ends**: December 31 - **Filer category**: Non-accelerated filer
Smaller reporting company - **Business address**: 300 FIFTH AVENUE, WALTHAM, MA, 02451 - **Phone**: 617-430-5595 - **Shares outstanding**: 37,143,940 as of 2026-07-27 (10-Q filed 2026-07-30) - **Former names**: GLYCOMIMETICS INC ### Recent filings (8-K and 6-K are the company's own announcements) - [8-K](https://www.sec.gov/Archives/edgar/data/1253689/000162828026066006/cbio-20261015.htm) filed 2026-10-15 - [10-Q](https://www.sec.gov/Archives/edgar/data/1253689/000162828026050869/cbio-20260630.htm) filed 2026-07-30 - [8-K](https://www.sec.gov/Archives/edgar/data/1253689/000162828026050805/cbio-20260730.htm) filed 2026-07-30 - [8-K](https://www.sec.gov/Archives/edgar/data/1253689/000162828026048347/cbio-20260714.htm) filed 2026-07-15 - [424B5](https://www.sec.gov/Archives/edgar/data/1253689/000162828026048344/prospectussupplementfollow.htm) filed 2026-07-15 - [8-K](https://www.sec.gov/Archives/edgar/data/1253689/000162828026048151/cbio-20260714.htm) filed 2026-07-14 - [424B5](https://www.sec.gov/Archives/edgar/data/1253689/000162828026048144/prospectussupplementfollow.htm) filed 2026-07-14 - [S-3](https://www.sec.gov/Archives/edgar/data/1253689/000162828026046544/a2026crescent-sx3.htm) filed 2026-07-01 Source: [SEC EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001253689), retrieved October 23, 2026. Shares outstanding is the cover-page figure from the latest periodic report. The SEC does not publish share prices. ## Listing details Crescent Biopharma, Inc. is a public biotech or pharmaceutical company listed on NASDAQ under the ticker CBIO, recorded under United States. The directory classifies it as Biotechnology. aibio.space tracks 2,820 public biotech companies worldwide and publishes investor news on them. - **Company**: Crescent Biopharma, Inc. - **Ticker**: CBIO - **Listing**: NASDAQ - **Country or territory**: United States - **Business scope**: Biotechnology - **ISIN**: KYG2545C1042 - **Last quote in directory**: 2026-10-21 - **Directory source**: [Listing page](https://www.tradingview.com/symbols/NASDAQ-CBIO/) Listing facts come from our company directory, researched on October 22, 2026. A listing record does not certify that a security currently trades. [Tell us about a change](https://aibio.space/reputation/#update). Work at this company? [Claim this page](https://aibio.space/claim/). Published and maintained by aibio.space. Not investment advice. [How we work](https://aibio.space/disclosures/). Who manages this page **This page is managed by aibio.space.** The company does not run, edit or pay for this page. News, desk views and Investor Ranks are written and managed independently by aibio.space under our editorial and analytical judgment. Opinion only, not investment advice. [How we work](https://aibio.space/disclosures/#paid) · [Terms](https://aibio.space/terms/#news) · [Request a correction](https://aibio.space/reputation/#update) --- Source page: https://aibio.space/companies/crescent-biopharma/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Crescent Biopharma (CBIO) news: reverse merger and going concern", 2026-10-31, https://aibio.space/companies/crescent-biopharma/