Crescent Biopharma (CBIO) AI Stock Analysis

• Market Cap: $292.65M
• Dividend Yield: N/A
• Average Volume (3M): 145.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.99
• Revenue Growth: -100.00%
• EPS Growth: -0.58%
• Country: US
• Employees: 41
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -4.01
• Shares Outstanding: 27,556,767
• 10 Day Avg. Volume: 163,515
• 30 Day Avg. Volume: 145,412
• PEG Ratio: 0.07
• Price to Book (P/B): 6.08
• Price to Sales (P/S): 113.89
• P/FCF Ratio: -17.05
• Enterprise Value/Market Cap: 0.28
• Enterprise Value/Revenue: 1.96
• Enterprise Value/Gross Profit: 2.04
• Enterprise Value/Ebitda: -0.55
• 1Y Price Target: $28.50
• Price Target Upside: 175.36% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): -4.21
• Revenue Forecast (FY): $3.88M

• Rating: 52 Neutral
• Price Target: $12.50 ▲(20.77% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held back primarily by very weak financial performance (no revenue, widening losses, and substantial cash burn). Offsetting this are improved balance-sheet strength and a significant financing event extending operating runway, while technicals are moderately constructive but not fully positive given the stock remains below its 200-day average and momentum indicators are somewhat extended.

Positive Factors

Stronger capitalization and low leverage

A materially stronger equity base and minimal debt materially improve financial flexibility over the medium term. This reduces short-term liquidity pressure and lowers bankruptcy/default risk, enabling sustained R&D investment and strategic optionality without immediate reliance on dilutive financing.

Substantial cash runway from financing

Having over $200M of cash expected to fund operations into 2028 materially lowers near-term funding risk. This runway supports multi-year clinical programs, reduces the need for urgent capital raises, and gives management time to progress milestones that create durable value.

Strategic partnership and global licensing

Region-specific licensing spreads development and commercialization risk while unlocking local expertise and funding. The deal accelerates access to Greater China markets, supports combination development, and leverages a partner's commercialization capabilities—structural benefits for pipeline de‑risking.

Negative Factors

Widening operating losses

Large, growing operating losses reflect heavy R&D and operating spend without meaningful commercial revenues. Persistently negative profitability depresses return on capital, forces reliance on external financing, and risks dilution if losses continue absent clear path to revenue.

High ongoing cash burn and negative FCF

Sustained negative operating and free cash flow is a structural vulnerability: ongoing burn necessitates future capital raises or partner funding, increasing dilution risk and constraining strategic options if clinical progress slows or markets tighten for biotech financing.

Early-stage clinical risk and long timelines

Key assets remain in early clinical stages, making near-to-medium term value highly binary. Long timelines to pivotal readouts increase execution risk, require sustained funding, and mean commercial returns are uncertain until positive efficacy/safety data are demonstrated.

Crescent Biopharma Business Overview & Revenue Model

Company Description

Crescent Biopharma, Inc., a biotechnology company, researches and develops cancer therapy candidates. Its pipeline includes CR-001, a proprietary anti-PD-1/anti-VEGF bispecific antibody to treat solid tumors; and CR-002, and CR-003. The company has a strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. for the development and commercialization of oncology therapeutics, including novel combinations. The company is headquartered in Waltham, Massachusetts.

How the Company Makes Money

GlycoMimetics generates revenue primarily through research and development collaborations, milestone payments, and licensing agreements with larger pharmaceutical companies. These partnerships provide funding and resources for the development of its drug candidates. The company may also receive royalties from the commercial sales of any successfully developed products. As GlycoMimetics is a clinical-stage company, it does not yet have products on the market and thus does not generate revenue from direct product sales. Instead, its financial performance depends heavily on its ability to secure and maintain strategic partnerships to advance its drug pipeline toward commercialization.

Crescent Biopharma Financial Statement Overview

Summary

Financials are weak overall: revenue is effectively $0 and losses widened sharply (net loss about -$150M in 2025 vs. -$71M in 2024), alongside continued heavy cash burn (operating/free cash flow roughly -$72M). The main offset is a materially stronger 2025 balance sheet with higher equity (~$203M) and very low debt (~$1.6M), improving financial runway despite negative ROE.

Income Statement

CBIO’s income statement is very weak: revenue has effectively collapsed to $0 in 2024–2025 (down 100% in 2025 vs. the prior year), while losses have widened materially (net loss of about -$150M in 2025 vs. -$71M in 2024). The lack of meaningful revenue combined with sharply higher operating losses signals heavy R&D/operating spend without near-term commercial offset; the main positive is that a pre-revenue profile is not unusual in biotechnology, but the year-over-year deterioration in profitability is a clear negative.

Balance Sheet

The balance sheet shows a meaningful improvement in capitalization and leverage in 2025: stockholders’ equity rose sharply to ~$203M and debt is very low at ~$1.6M (debt is ~0.8% of equity), indicating limited balance-sheet leverage. The key weakness is profitability/wealth creation: return on equity remains deeply negative in 2025 (reflecting large losses), and the prior year (2024) showed very high leverage (debt far exceeding equity), highlighting that the capital structure has been volatile across periods.

Cash Flow

Cash flow remains pressured, with operating cash flow and free cash flow both substantially negative in 2025 (roughly -$72M), implying a high ongoing cash burn. A modest positive is that free cash flow improved versus 2024 (positive growth rate), suggesting burn reduced on a year-over-year basis; however, cash generation is still not self-funding and the company remains dependent on external capital over time if this burn persists.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.84M	0.00	10.00K	75.00K	1.16M
Gross Profit	10.76M	-35.17K	10.00K	75.00K	1.16M
EBITDA	-149.67M	0.00	-39.12M	-47.20M	-63.18M
Net Income	-149.94M	-71.47M	-36.90M	-46.69M	-63.43M
Balance Sheet
Total Assets	240.29M	35.62M	45.32M	51.81M	94.35M
Cash, Cash Equivalents and Short-Term Investments	213.19M	34.77M	41.79M	47.87M	90.25M
Total Debt	1.64M	37.48M	808.40K	918.55K	1.92M
Total Liabilities	37.28M	51.10M	6.90M	8.88M	12.74M
Stockholders Equity	203.01M	5.31M	38.41M	42.93M	81.60M
Cash Flow
Free Cash Flow	-72.45M	-31.11M	-34.90M	-46.54M	-57.50M
Operating Cash Flow	-71.53M	-31.10M	-34.88M	-46.46M	-57.49M
Investing Cash Flow	-72.92M	20.03K	-21.39K	-84.19K	-14.94K
Financing Cash Flow	322.98M	5.40K	28.82M	4.16M	10.72M

Crescent Biopharma Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBIO, the sentiment is Negative. The current price of 10.35 is below the 20-day moving average (MA) of 11.70, below the 50-day MA of 11.19, and below the 200-day MA of 12.94, indicating a bearish trend. The MACD of 0.03 indicates Positive momentum. The RSI at 41.38 is Neutral, neither overbought nor oversold. The STOCH value of 16.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CBIO.

Crescent Biopharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CGEN	73 Outperform	$199.51M	4.04	55.68%	―	-88.47%	-1658.33%
CBIO	52 Neutral	$292.65M	-8.24	-122.12%	―	-100.00%	-0.58%
OBIO	52 Neutral	$271.54M	-3,008.78	-170.45%	―	6.46%	-14.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FATE	50 Neutral	$125.56M	-0.86	-55.02%	―	-46.92%	20.26%
GUTS	47 Neutral	$59.83M	-0.56	-3645.22%	―	-96.91%	63.11%

Crescent Biopharma Corporate Events

Crescent Biopharma Secures $185M Through Private Placement

On December 2, 2025, Crescent Biopharma entered into a strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., involving two license agreements. Crescent granted Kelun-Biotech exclusive rights to develop and commercialize CR-001, a bispecific antibody, in Greater China, while Crescent received rights to develop SKB105, an integrin beta-6-directed ADC, outside Greater China. This collaboration is expected to enhance Crescent’s oncology pipeline and accelerate the development of combination therapies. Additionally, Crescent announced a private placement agreement on December 4, 2025, to raise approximately $185 million, which will fund its operations into 2028, supporting its strategic initiatives and clinical development programs.

The most recent analyst rating on (CBIO) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Crescent Biopharma stock, see the CBIO Stock Forecast page.