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Crescent Biopharma (CBIO) Financials

Crescent Biopharma logo
$17.34 +0.58 (+3.46%)
Closing price 04:00 PM Eastern
Extended Trading
$17.74 +0.40 (+2.31%)
As of 04:15 PM Eastern
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Annual Income Statements for Crescent Biopharma

Annual Income Statements for Crescent Biopharma

This table shows Crescent Biopharma's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -154
Consolidated Net Income / (Loss)		 -13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -154
Net Income / (Loss) Continuing Operations		 -13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -154
Total Pre-Tax Income 		-13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -152
Total Operating Income		 -13 -32 -34 -52 -61 -52 -63 -47 -39 -40 -153
Total Gross Profit		 20 0.02 0.00 0.00 0.00 10 1.16 0.08 0.01 0.00 11
Total Revenue		 20 0.02 0.00 0.00 0.00 10 1.16 0.08 0.01 0.00 11
Operating Revenue		 20 0.02 - 0.00 0.00 10 1.16 0.08 0.01 0.00 11
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 33 32 34 52 61 62 65 47 39 40 163
Selling, General & Admin Expense		 7.81 8.65 9.83 11 14 17 17 19 19 18 25
Research & Development Expense		 25 23 24 40 47 45 47 28 20 14 138
Total Other Income / (Expense), net		 0.00 0.10 0.65 3.23 3.50 0.48 0.02 0.71 2.38 2.16 0.69
Interest Expense		 - - - - - - - - - - 2.19
Interest & Investment Income		 - 0.10 0.65 3.23 3.50 0.48 0.02 0.71 2.38 0.94 2.88
Income Tax Expense		 - - - - - - - - - - 2.00
Basic Earnings per Share		 ($0.67) ($1.50) ($1.13) ($1.18) ($1.34) ($1.12) ($1.23) ($0.89) ($0.58) ($0.59) ($12.81)
Weighted Average Basic Shares Outstanding		 19.01M 21.26M 29.40M 41.04M 43.25M 45.72M 51.45M 52.53M 63.34M 64.48M 10.41M
Diluted Earnings per Share		 ($0.67) ($1.50) ($1.13) ($1.18) ($1.34) ($1.12) ($1.23) ($0.89) ($0.58) ($0.59) ($12.81)
Weighted Average Diluted Shares Outstanding		 19.01M 21.26M 29.40M 41.04M 43.25M 45.72M 51.45M 52.53M 63.34M 64.48M 10.41M
Weighted Average Basic & Diluted Shares Outstanding		 19.01M 21.26M 29.40M 41.04M 43.25M 45.72M 52.31M 64.25M 64.45M 64.51M 27.56M

Quarterly Income Statements for Crescent Biopharma

This table shows Crescent Biopharma's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -9.20 -9.08 -11 -10 -9.82 -7.22 -15 -22 -25 -105 -23
Consolidated Net Income / (Loss)		 -9.20 -9.08 -11 -10 -9.82 -7.22 -15 -22 -25 -105 -23
Net Income / (Loss) Continuing Operations		 -9.20 -9.08 -11 -10 -9.82 -7.22 -15 -22 -25 -105 -23
Total Pre-Tax Income 		-9.20 -9.08 -11 -10 -9.82 -7.22 -15 -22 -25 -103 -23
Total Operating Income		 -9.81 -9.59 -11 -10 -11 -7.33 -14 -21 -26 -103 -25
Total Gross Profit		 0.00 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 11 1.04
Total Revenue		 0.00 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 11 1.04
Operating Revenue		 - - - - - - 0.00 - - - 1.04
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 9.81 9.60 11 10 11 7.33 14 21 26 114 26
Selling, General & Admin Expense		 4.52 4.31 5.09 4.07 4.01 5.08 3.60 8.95 5.54 8.52 7.87
Research & Development Expense		 5.29 5.29 6.03 6.29 1.72 0.23 11 12 20 106 18
Total Other Income / (Expense), net		 0.61 0.51 0.38 0.26 1.41 0.11 -0.92 -0.76 1.28 0.12 1.45
Interest Expense		 - - - - - - 1.11 1.07 0.00 - 0.00
Interest & Investment Income		 0.61 0.51 0.38 0.26 0.18 0.11 0.19 0.31 1.28 1.23 1.45
Weighted Average Basic Shares Outstanding		 64.35M 63.34M 64.46M 64.48M 64.48M 64.48M 771.85K 13.89M 16.54M 10.41M 30.40M
Weighted Average Diluted Shares Outstanding		 64.35M 63.34M 64.52M 64.48M 64.48M 64.48M 771.85K 3.86M 16.54M 10.41M 30.40M
Weighted Average Basic & Diluted Shares Outstanding		 64.39M 64.45M 64.46M 64.48M 64.48M 64.51M 64.53M 3.86M 13.89M 27.56M 27.57M

Annual Cash Flow Statements for Crescent Biopharma

This table details how cash moves in and out of Crescent Biopharma's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -8.40 -6.76 84 86 -52 -21 -47 -42 -6.08 -31 179
Net Cash From Operating Activities		 -8.24 -30 -30 -43 -52 -39 -57 -46 -35 -31 -72
Net Cash From Continuing Operating Activities		 -8.24 -30 -30 -43 -52 -39 -57 -46 -35 -31 -72
Net Income / (Loss) Continuing Operations		 -13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -154
Consolidated Net Income / (Loss)		 -13 -32 -33 -48 -58 -51 -63 -47 -37 -38 -154
Depreciation Expense		 0.19 0.19 0.26 0.28 0.28 0.27 0.26 0.21 0.15 0.04 0.08
Non-Cash Adjustments To Reconcile Net Income		 2.33 2.90 4.32 3.23 6.22 6.90 6.09 5.37 3.02 5.79 101
Changes in Operating Assets and Liabilities, net		 2.00 -1.01 -1.07 1.44 -1.21 3.93 -1.17 -6.17 -2.01 0.55 -18
Net Cash From Investing Activities		 -0.27 -0.70 -0.29 -0.13 -0.14 -0.07 -0.01 -0.08 -0.02 0.02 -73
Net Cash From Continuing Investing Activities		 -0.27 -0.70 -0.29 -0.13 -0.14 -0.07 -0.01 -0.08 -0.02 0.02 -73
Purchase of Property, Plant & Equipment		 -0.27 -0.70 -0.29 -0.13 -0.14 -0.07 -0.01 -0.08 -0.02 -0.01 -0.92
Acquisitions		 - - - - - - - - - - -72
Net Cash From Financing Activities		 0.11 24 114 129 0.41 18 11 4.16 29 0.01 323
Net Cash From Continuing Financing Activities		 0.11 24 114 129 0.41 18 11 4.16 29 0.01 323
Repurchase of Preferred Equity		 - - - - - - - - - - -0.18
Issuance of Debt		 - - - - - - - - - - 0.00
Issuance of Preferred Equity		 - - - - - - - - - - 0.00
Issuance of Common Equity		 0.11 24 114 129 0.41 18 11 4.16 29 0.01 179
Other Financing Activities, net		 - - - - - - - - - - 144

Quarterly Cash Flow Statements for Crescent Biopharma

This table details how cash moves in and out of Crescent Biopharma's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -8.63 -7.61 -11 -8.90 -7.99 -3.67 -12 123 -19 80 -24
Net Cash From Operating Activities		 -8.68 -7.61 -11 -8.89 -7.99 -3.70 -11 -22 -18 -27 -8.94
Net Cash From Continuing Operating Activities		 -8.68 -7.61 -11 -8.89 -7.99 -3.70 -11 -22 -18 -27 -8.94
Net Income / (Loss) Continuing Operations		 -9.20 -9.08 -11 -10 -9.82 -7.22 -15 -35 -25 -92 -23
Consolidated Net Income / (Loss)		 -9.20 -9.08 -11 -10 -9.82 -7.22 -15 -35 -25 -92 -23
Depreciation Expense		 0.04 0.02 0.01 0.01 0.01 - 0.00 0.00 0.03 0.05 0.06
Non-Cash Adjustments To Reconcile Net Income		 0.89 0.40 1.64 1.44 1.58 1.13 1.23 8.39 2.01 90 4.11
Changes in Operating Assets and Liabilities, net		 -0.64 0.85 -1.60 -0.42 0.18 2.39 3.07 4.06 4.91 -24 10
Net Cash From Investing Activities		 -0.01 -0.00 -0.01 -0.00 - 0.03 0.00 -0.14 -0.59 -72 -8.15
Net Cash From Continuing Investing Activities		 -0.01 -0.00 -0.01 -0.00 - 0.03 0.00 -0.14 -0.59 -72 -8.15
Purchase of Property, Plant & Equipment		 -0.01 -0.00 -0.01 -0.00 - - 0.00 -0.14 -0.59 -0.19 -0.15
Acquisitions		 - - - - - - 0.00 - - - -8.00
Net Cash From Financing Activities		 0.06 0.00 0.00 0.00 - - -1.49 145 -1.25 179 -6.95
Net Cash From Continuing Financing Activities		 0.06 0.00 0.00 0.00 - - -1.49 145 -1.25 179 -6.95
Repayment of Debt		 - - - - - - -0.00 - - - 0.00
Other Financing Activities, net		 - - - - - - -1.48 - -1.25 -0.02 -6.95

Annual Balance Sheets for Crescent Biopharma

This table presents Crescent Biopharma's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 48 42 129 215 168 143 94 52 45 36 240
Total Current Assets		 47 41 127 212 163 138 91 51 44 35 237
Cash & Equivalents		 47 40 124 210 158 137 90 48 42 35 213
Accounts Receivable		 - - - - - - - - - 0.00 18
Prepaid Expenses		 0.44 0.48 3.29 2.35 4.33 1.24 0.53 2.84 2.00 0.04 5.46
Plant, Property, & Equipment, net		 0.52 1.06 1.11 0.96 0.82 0.62 0.37 0.00 0.00 0.00 0.85
Total Noncurrent Assets		 0.70 0.81 0.26 1.61 4.62 3.94 3.19 1.10 1.53 0.81 2.79
Other Noncurrent Operating Assets		 0.70 0.81 0.26 1.61 4.62 3.94 3.19 1.10 1.53 0.81 2.79
Total Liabilities & Shareholders' Equity		 48 42 129 215 168 143 94 52 45 36 240
Total Liabilities		 7.99 7.09 8.88 9.37 14 15 13 8.88 6.90 47 37
Total Current Liabilities		 7.75 6.33 8.17 8.76 11 12 12 8.88 6.84 9.61 36
Accounts Payable		 0.56 1.57 2.65 2.66 1.44 2.09 2.11 0.97 0.87 7.33 10
Accrued Expenses		 7.18 4.70 5.45 6.00 8.71 9.44 8.72 6.99 5.23 2.57 16
Customer Deposits		 - - - - - - - - - 0.00 5.00
Current Deferred Revenue		 - 0.07 0.08 0.10 - - - - - 0.00 4.16
Other Current Liabilities		 - - - - 0.80 0.90 1.00 0.92 0.74 0.06 0.44
Total Noncurrent Liabilities		 0.24 0.75 0.71 0.61 2.82 2.18 0.92 0.00 0.07 37 1.21
Other Noncurrent Operating Liabilities		 - - - - 2.82 2.18 0.92 0.00 0.07 0.00 1.21
Commitments & Contingencies		 - - - - - - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 40 35 120 205 154 128 82 43 38 -15 203
Total Preferred & Common Equity		 40 35 120 205 154 128 82 43 38 -15 203
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.00
Total Common Equity		 40 35 120 205 154 128 82 43 38 -15 199
Common Stock		 128 154 272 406 413 438 455 463 495 2.39 371
Retained Earnings		 -87 -119 -152 -201 -258 -309 -373 -420 -456 -18 -172

Quarterly Balance Sheets for Crescent Biopharma

This table presents Crescent Biopharma's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 53 34 24 16 5.99 157 138 199
Total Current Assets		 52 33 24 16 5.99 154 135 196
Cash & Equivalents		 49 31 22 14 5.61 153 133 189
Accounts Receivable		 - - - - - - - 0.00
Prepaid Expenses		 2.60 1.99 1.47 1.25 0.38 1.58 1.30 6.40
Plant, Property, & Equipment, net		 0.13 0.00 0.00 0.00 0.00 0.19 0.78 0.93
Total Noncurrent Assets		 1.06 0.94 0.56 0.05 0.00 3.01 2.92 2.64
Other Noncurrent Operating Assets		 1.06 0.94 0.56 0.05 - 3.01 2.92 2.64
Total Liabilities & Shareholders' Equity		 53 34 24 16 5.99 157 138 199
Total Liabilities		 6.65 5.29 4.36 4.32 2.62 18 22 15
Total Current Liabilities		 6.39 5.29 4.36 4.32 2.62 17 20 14
Accounts Payable		 0.33 0.76 0.95 0.58 0.10 6.83 8.83 1.19
Accrued Expenses		 5.31 3.91 2.96 3.48 2.51 7.61 8.97 4.43
Customer Deposits		 - - - - - - - 5.00
Current Deferred Revenue		 - - - - - - - 3.12
Other Current Liabilities		 0.75 0.63 0.45 0.26 0.00 2.31 2.51 0.45
Total Noncurrent Liabilities		 0.26 0.00 0.00 0.00 0.00 1.43 1.32 1.09
Other Noncurrent Operating Liabilities		 0.26 0.00 - 0.00 - 1.43 1.32 1.09
Commitments & Contingencies		 - - - - - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 47 29 20 11 3.38 139 117 184
Total Preferred & Common Equity		 47 29 20 11 3.38 139 117 184
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 4.00 4.00 4.00
Total Common Equity		 47 29 20 11 3.38 135 113 180
Common Stock		 494 496 497 499 500 190 192 375
Retained Earnings		 -447 -467 -477 -487 -497 -55 -79 -195

Annual Metrics And Ratios for Crescent Biopharma

This table displays calculated financial ratios and metrics derived from Crescent Biopharma's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 33.56% -99.91% -100.00% 0.00% 0.00% 0.00% -88.59% -93.53% -86.67% -100.00% 0.00%
EBITDA Growth		 -14.68% -151.90% -6.13% -52.16% -18.08% 16.42% -23.49% 25.73% 17.48% -0.29% -297.50%
EBIT Growth		 -14.77% -149.62% -6.33% -51.79% -19.19% 16.09% -23.18% 25.29% 17.15% 1.17% -293.24%
NOPAT Growth		 -14.77% -149.62% -6.33% -51.79% -19.19% 16.09% -23.18% 25.29% 17.15% -1.95% -281.20%
Net Income Growth		 -14.82% -149.11% -4.63% -45.05% -19.92% 11.86% -24.30% 26.39% 20.97% -2.66% -306.40%
EPS Growth		 -11.67% -123.88% 24.67% -4.42% -13.56% 16.42% -9.82% 27.64% 34.83% -1.72% -2,071.19%
Operating Cash Flow Growth		 -92.50% -260.73% -0.12% -45.56% -19.97% 24.51% -46.50% 19.19% 24.92% 10.84% -130.02%
Free Cash Flow Firm Growth		 -150.00% -241.17% -1.42% -47.61% -21.22% 28.06% -42.68% 17.24% 21.24% 10.52% -292.58%
Invested Capital Growth		 -44.03% 25.12% 10.91% -5.44% 10.16% -120.34% 1.86% 42.89% 31.62% -60.03% -88.29%
Revenue Q/Q Growth		 0.18% 0.00% 0.00% 0.00% 0.00% 1.63% -11.13% -19.03% 0.00% -100.00% 0.00%
EBITDA Q/Q Growth		 -13.36% 0.00% 0.00% -11.18% -0.05% 0.88% -3.05% 12.80% 2.50% 7.86% -170.00%
EBIT Q/Q Growth		 -13.18% 0.00% 0.00% -11.11% -1.07% -0.45% -3.02% 12.55% 2.56% 8.23% -169.45%
NOPAT Q/Q Growth		 -13.18% 0.00% 0.00% -11.11% -1.07% -0.45% -3.02% 12.55% 2.56% 5.34% -169.45%
Net Income Q/Q Growth		 -13.19% 0.00% 0.00% -11.25% -1.02% 20.16% -32.57% 13.32% 3.06% 4.67% -175.08%
EPS Q/Q Growth		 -15.52% 0.00% 0.00% -13.46% 4.29% 0.00% 0.00% 12.75% 9.38% 4.84% -278.99%
Operating Cash Flow Q/Q Growth		 -10.79% 3.26% -8.83% -3.86% -5.72% 7.34% -5.74% 9.53% 0.84% 11.18% -47.51%
Free Cash Flow Firm Q/Q Growth		 -7.81% 0.00% 0.00% 0.00% -7.36% 10.98% -5.24% 7.52% -1.00% 11.73% -291.91%
Invested Capital Q/Q Growth		 -25.24% 0.00% 0.00% -156.97% -5.12% -91.45% -61.45% -44.82% -18.13% -79.30% 38.76%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 0.00% 100.00%
EBITDA Margin		 -62.74% -171,475.38% 0.00% 0.00% 0.00% -497.47% -5,383.29% -61,828.22% -382,657.54% 0.00% -1,406.75%
Operating Margin		 -63.70% -172,505.32% 0.00% 0.00% 0.00% -506.84% -5,470.69% -63,204.43% -392,752.93% 0.00% -1,407.52%
EBIT Margin		 -63.70% -172,505.32% 0.00% 0.00% 0.00% -506.84% -5,470.69% -63,204.43% -392,752.93% 0.00% -1,407.52%
Profit (Net Income) Margin		 -63.62% -171,945.07% 0.00% 0.00% 0.00% -502.09% -5,468.98% -62,251.74% -368,994.20% 0.00% -1,419.61%
Tax Burden Percent		 99.88% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 101.32%
Interest Burden Percent		 100.00% 99.68% 98.08% 93.73% 94.30% 99.06% 99.97% 98.49% 93.95% 97.59% 99.55%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -27.98% -83.96% -42.94% -29.69% -32.19% -36.14% -60.46% -74.98% -90.72% -173.25% -157.46%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -24.18% -70.25% 0.00% 0.00% 0.00% -33.15% -53.50% -64.87% -80.87% 0.00% -110.64%
Return on Assets (ROA)		 -24.16% -70.03% 0.00% 0.00% 0.00% -32.84% -53.48% -63.89% -75.98% 0.00% -111.59%
Return on Common Equity (ROCE)		 -27.98% -83.96% -42.94% -29.69% -32.19% -36.14% -60.46% -74.98% -90.72% -173.25% -147.80%
Return on Equity Simple (ROE_SIMPLE)		 -31.55% -90.11% -27.80% -23.49% -37.54% -39.80% -77.73% -108.76% -96.06% -712.88% 0.00%
Net Operating Profit after Tax (NOPAT)		 -8.95 -22 -24 -36 -43 -36 -44 -33 -27 -28 -107
NOPAT Margin		 -44.59% -120,753.73% 0.00% 0.00% 0.00% -354.79% -3,829.48% -44,243.10% -274,927.05% 0.00% -985.27%
Net Nonoperating Expense Percent (NNEP)		 -7.49% -21.81% -11.62% -7.32% -8.11% -10.14% -16.73% -19.56% -20.98% -37.52% -42.07%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -71.57% -527.47% -52.63%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 38.89% 46,757.65% 0.00% 0.00% 0.00% 164.75% 1,475.76% 25,449.92% 192,136.37% 0.00% 234.14%
R&D to Revenue		 124.81% 125,847.68% 0.00% 0.00% 0.00% 442.09% 4,094.92% 37,854.51% 200,716.56% 0.00% 1,273.39%
Operating Expenses to Revenue		 163.70% 172,605.32% 0.00% 0.00% 0.00% 606.84% 5,570.69% 63,304.43% 392,852.93% 0.00% 1,507.52%
Earnings before Interest and Taxes (EBIT)		 -13 -32 -34 -52 -61 -52 -63 -47 -39 -39 -153
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -13 -32 -34 -51 -60 -51 -62 -46 -38 -38 -153
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.69 3.99 4.82 1.99 1.49 1.40 0.91 3.70 3.96 3.02 0.83
Price to Tangible Book Value (P/TBV)		 2.69 3.99 4.82 1.99 1.49 1.40 0.91 3.70 3.96 3.02 0.83
Price to Revenue (P/Rev)		 5.43 7,605.26 0.00 0.00 0.00 17.70 64.24 2,117.93 15,196.82 0.00 15.19
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 3.09 5,440.85 0.00 0.00 0.00 4.21 0.00 1,479.65 11,017.53 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.12 -1.15 -1.06 -1.03 -1.02 -1.05 -1.08 -1.11 -1.10 -1.20 -1.15
Leverage Ratio		 1.16 1.20 1.10 1.06 1.06 1.10 1.13 1.17 1.19 1.29 1.41
Compound Leverage Factor		 1.16 1.20 1.08 0.99 1.00 1.09 1.13 1.16 1.12 1.26 1.40
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.97%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.03%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 6.18 6.47 37.53 25.18 7.72 4.29 -3.23 -2.65 -2.77 -71.71 0.60
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.14%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 6.10 6.40 15.56 24.22 14.84 11.13 7.68 5.71 6.41 1.92 6.56
Quick Ratio		 6.04 6.32 15.16 23.95 14.45 11.03 7.63 5.39 6.11 1.86 6.41
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7.01 -24 -24 -36 -43 -31 -45 -37 -29 -26 -102
Operating Cash Flow to CapEx		 -3,068.53% -4,221.98% -10,121.61% -34,494.36% -35,868.94% -57,281.64% -384,725.49% -55,181.06% -163,035.91% 0.00% -7,783.68%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -46.71
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -32.74
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -33.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.38 0.00 0.00 0.00 0.00 0.07 0.01 0.00 0.00 0.00 0.08
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 41.23 0.02 0.00 0.00 0.00 14.08 2.34 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -6.33 -4.74 -4.22 -4.45 -4.00 -8.82 -8.65 -4.94 -3.38 -5.41 -10
Invested Capital Turnover		 -3.74 0.00 0.00 0.00 0.00 -1.59 -0.13 -0.01 0.00 0.00 -1.39
Increase / (Decrease) in Invested Capital		 -1.94 1.59 0.52 -0.23 0.45 -4.81 0.16 3.71 1.56 -2.03 -4.77
Enterprise Value (EV)		 62 101 453 199 71 43 -16 111 110 5.34 -44
Market Capitalization		 109 141 577 409 229 180 75 159 152 16 165
Book Value per Share		 $2.13 $1.53 $3.49 $4.76 $3.56 $2.68 $1.58 $0.82 $0.60 $0.08 $14.33
Tangible Book Value per Share		 $2.13 $1.53 $3.49 $4.76 $3.56 $2.68 $1.58 $0.82 $0.60 $0.08 $14.33
Total Capital		 40 35 120 205 154 128 82 43 38 5.31 203
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -47 -40 -124 -210 -158 -137 -90 -48 -42 -11 -213
Capital Expenditures (CapEx)		 0.27 0.70 0.29 0.13 0.14 0.07 0.01 0.08 0.02 -0.02 0.92
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -7.31 -5.86 -4.88 -6.41 -6.62 -11 -11 -6.04 -4.84 -5.41 -13
Debt-free Net Working Capital (DFNWC)		 39 34 119 204 152 126 79 42 37 5.31 201
Net Working Capital (NWC)		 39 34 119 204 152 126 79 42 37 5.31 201
Net Nonoperating Expense (NNE)		 3.82 9.47 9.53 12 15 15 19 14 9.41 9.85 47
Net Nonoperating Obligations (NNO)		 -47 -40 -124 -210 -158 -137 -90 -48 -42 -11 -213
Total Depreciation and Amortization (D&A)		 0.19 0.19 0.26 0.28 0.90 0.95 1.01 1.03 1.01 0.44 0.08
Debt-free, Cash-free Net Working Capital to Revenue		 -36.40% -31,649.26% 0.00% 0.00% 0.00% -110.11% -973.52% -8,048.89% -48,373.26% 0.00% -116.28%
Debt-free Net Working Capital to Revenue		 196.79% 184,792.04% 0.00% 0.00% 0.00% 1,238.27% 6,808.64% 55,778.60% 369,555.04% 0.00% 1,849.71%
Net Working Capital to Revenue		 196.79% 184,792.04% 0.00% 0.00% 0.00% 1,238.27% 6,808.64% 55,778.60% 369,555.04% 0.00% 1,849.71%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.67) ($1.50) ($1.13) ($1.18) ($1.34) ($1.12) ($1.23) ($0.89) ($0.58) ($0.59) ($12.81)
Adjusted Weighted Average Basic Shares Outstanding		 19.06M 23.33M 29.40M 43.17M 43.58M 51.49M 51.45M 52.53M 63.34M 64.48M 10.41M
Adjusted Diluted Earnings per Share		 ($0.67) ($1.50) ($1.13) ($1.18) ($1.34) ($1.12) ($1.23) ($0.89) ($0.58) ($0.59) ($12.81)
Adjusted Weighted Average Diluted Shares Outstanding		 19.06M 23.33M 29.40M 43.17M 43.58M 51.49M 51.45M 52.53M 63.34M 64.48M 10.41M
Adjusted Basic & Diluted Earnings per Share		 ($0.67) ($1.50) ($1.13) ($1.18) ($1.34) ($1.12) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 19.01M 21.26M 29.40M 41.04M 43.25M 45.72M 52.31M 64.25M 64.45M 64.51M 27.56M
Normalized Net Operating Profit after Tax (NOPAT)		 -8.95 -22 -24 -36 -43 -36 -44 -33 -27 -23 -107
Normalized NOPAT Margin		 -44.59% -120,753.73% 0.00% 0.00% 0.00% -354.79% -3,829.48% -44,243.10% -274,927.05% 0.00% -985.27%
Pre Tax Income Margin		 -63.70% -171,945.07% 0.00% 0.00% 0.00% -502.09% -5,468.98% -62,251.74% -368,994.20% 0.00% -1,401.16%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -69.85
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -48.90
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -70.28
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -49.32
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Crescent Biopharma

This table displays calculated financial ratios and metrics derived from Crescent Biopharma's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 64,316,268.00 64,393,294.00 64,450,385.00 64,464,412.00 64,483,958.00 64,483,958.00 64,513,862.00 64,532,091.00 13,892,562.00 - 27,556,767.00
DEI Adjusted Shares Outstanding		 643,163.00 643,933.00 644,504.00 644,644.00 644,840.00 644,840.00 645,139.00 645,321.00 13,892,562.00 - 27,556,767.00
DEI Earnings Per Adjusted Shares Outstanding		 -14.31 -14.10 -16.66 -15.66 -15.24 -11.20 -23.48 -33.77 -1.77 - -0.84
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -12.13% 9.49% -2.37% -17.40% -4.17% 21.83% -30.13% -106.74% -160.09% -1,308.24% -73.40%
EBIT Growth		 -11.93% 9.71% -1.59% -15.99% -1.99% 23.54% -27.97% -103.04% -158.62% -1,308.97% -73.85%
NOPAT Growth		 -11.93% 9.71% -1.59% -15.99% -14.47% 23.54% -27.97% -103.04% -130.42% -1,308.97% -73.85%
Net Income Growth		 -7.96% 11.38% -3.64% -22.24% -6.76% 20.44% -41.09% -115.84% -150.47% -1,356.53% -53.70%
EPS Growth		 12.50% 30.00% 76.47% -23.08% -7.14% 21.43% 0.00% 0.00% 0.00% -9,081.82% 0.00%
Operating Cash Flow Growth		 -0.77% 3.75% 9.46% -27.51% 7.93% 51.39% -3.26% -149.03% -119.39% -622.41% 17.64%
Free Cash Flow Firm Growth		 8.20% 25.75% 38.22% 3.33% -3.87% 62.48% -22.57% 52.64% 41.48% -2,075.63% -41.08%
Invested Capital Growth		 16.17% 31.62% 15.96% 16.65% -5.43% -60.03% 5.56% -476.32% -451.31% -88.29% -137.43%
Revenue Q/Q Growth		 0.00% 0.00% -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -90.42%
EBITDA Q/Q Growth		 -10.15% 1.71% -16.53% 6.95% 2.26% 26.24% -93.98% -776.58% -22.96% -299.37% 76.11%
EBIT Q/Q Growth		 -9.89% 2.27% -15.89% 6.81% 3.37% 26.74% -93.98% -776.66% -23.09% -299.14% 76.07%
NOPAT Q/Q Growth		 -9.89% 2.27% -15.89% 6.81% -8.46% 34.73% -93.98% -776.66% -23.09% -299.14% 76.07%
Net Income Q/Q Growth		 -11.43% 1.35% -18.26% 5.97% 2.69% 26.48% -109.73% -829.71% -12.93% -327.53% 77.87%
EPS Q/Q Growth		 -7.69% 0.00% 71.43% 5.88% 6.25% 26.67% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -24.49% 12.30% -38.00% 15.37% 10.11% 53.70% -193.15% -333.75% 20.81% -52.46% 66.58%
Free Cash Flow Firm Q/Q Growth		 7.01% -11.52% 0.55% 6.27% 0.08% 59.72% -224.93% -101.74% -23.47% -1,397.48% 78.93%
Invested Capital Q/Q Growth		 -2.60% -18.13% 29.83% 1.99% -29.77% -79.30% 58.59% -498.10% -24.14% 38.76% 47.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 100.00%
EBITDA Margin		 0.00% -93,800.55% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -952.27% -2,373.92%
Operating Margin		 0.00% -95,908.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -952.77% -2,380.08%
EBIT Margin		 0.00% -95,908.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -952.77% -2,380.08%
Profit (Net Income) Margin		 0.00% -90,786.40% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -970.13% -2,240.90%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 101.94% 100.00%
Interest Burden Percent		 93.77% 94.66% 96.60% 97.47% 98.16% 98.50% 106.50% 103.61% 95.06% 99.89% 94.15%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -80.42% -90.72% -81.84% -104.49% -137.20% -173.25% -261.97% -51.70% -87.43% -157.46% -173.14%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -19.75% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -74.89% -275.76%
Return on Assets (ROA)		 0.00% -18.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -76.26% -259.64%
Return on Common Equity (ROCE)		 -80.42% -90.72% -81.84% -104.49% -137.20% -173.25% -261.97% -50.40% -84.70% -147.80% -169.44%
Return on Equity Simple (ROE_SIMPLE)		 -81.78% 0.00% -128.94% -194.96% -349.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -6.87 -6.71 -7.78 -7.25 -7.86 -5.13 -9.96 -15 -18 -72 -17
NOPAT Margin		 0.00% -67,135.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -666.94% -1,666.05%
Net Nonoperating Expense Percent (NNEP)		 -4.62% -5.28% -6.14% -7.11% -6.15% -7.96% -28.14% -8.08% -8.79% -29.37% -6.13%
Return On Investment Capital (ROIC_SIMPLE)		 - -17.48% -26.91% - - -96.60% -294.99% -10.57% -15.53% -35.62% -9.42%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 43,123.82% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 78.56% 756.98%
R&D to Revenue		 0.00% 52,884.52% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 974.21% 1,723.10%
Operating Expenses to Revenue		 0.00% 96,008.34% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1,052.77% 2,480.08%
Earnings before Interest and Taxes (EBIT)		 -9.81 -9.59 -11 -10 -10 -7.33 -14 -21 -26 -103 -25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -9.54 -9.38 -11 -10 -9.94 -7.33 -14 -21 -26 -103 -25
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.07 3.96 6.69 0.90 0.96 3.02 4.01 0.08 1.47 0.83 2.81
Price to Tangible Book Value (P/TBV)		 2.07 3.96 6.69 0.90 0.96 3.02 4.01 0.08 1.47 0.83 2.81
Price to Revenue (P/Rev)		 0.00 15,196.82 19,335.12 1,815.32 1,089.78 0.00 0.00 0.00 0.00 15.19 42.60
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 11,017.53 16,206.97 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.02
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.07 -1.10 -1.06 -1.07 -1.10 -1.20 -1.14 -1.10 -1.15 -1.15 -1.04
Leverage Ratio		 1.15 1.19 1.13 1.15 1.19 1.29 1.25 1.14 1.20 1.41 1.10
Compound Leverage Factor		 1.08 1.13 1.09 1.12 1.17 1.27 1.33 1.18 1.14 1.41 1.03
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.87% 3.43% 1.97% 2.18%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 97.13% 96.57% 98.03% 97.82%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -2.65 -0.61 2.70 -25.31 -43.17 -62.34 -120.10 0.46 4.15 1.28 19.25
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.51% 3.12% 6.14% 2.14%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.14 6.41 6.28 5.48 3.62 1.92 2.29 9.21 6.63 6.56 13.78
Quick Ratio		 7.73 6.11 5.91 5.14 3.33 1.86 2.15 9.12 6.56 6.41 13.33
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7.42 -8.28 -8.23 -7.71 -7.71 -3.10 -10 -3.65 -4.51 -68 -14
Operating Cash Flow to CapEx		 -110,388.93% -950,686.27% -141,266.69% -351,100.47% 0.00% 0.00% 0.00% -15,819.29% -2,993.00% -13,854.92% -6,079.59%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -9.07 -3.41 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -9.76 -20.64 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -9.76 -20.77 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.12
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -2.86 -3.38 -2.37 -2.32 -3.02 -5.41 -2.24 -13 -17 -10 -5.32
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.39 -3.15
Increase / (Decrease) in Invested Capital		 0.55 1.56 0.45 0.46 -0.16 -2.03 0.13 -11 -14 -4.77 -3.08
Enterprise Value (EV)		 47 110 162 -4.23 -3.49 5.34 7.93 -138 36 -44 321
Market Capitalization		 96 152 193 18 11 16 14 10 165 165 506
Book Value per Share		 $0.72 $0.60 $0.45 $0.31 $0.18 $0.08 $0.05 $2.10 $8.11 $14.33 $6.53
Tangible Book Value per Share		 $0.72 $0.60 $0.45 $0.31 $0.18 $0.08 $0.05 $2.10 $8.11 $14.33 $6.53
Total Capital		 47 38 29 20 11 5.31 3.38 139 117 203 184
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -49 -42 -31 -22 -14 -11 -5.61 -153 -133 -213 -189
Capital Expenditures (CapEx)		 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.14 0.59 0.19 0.15
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.79 -4.84 -3.31 -2.88 -3.07 -5.41 -2.24 -15 -19 -13 -7.79
Debt-free Net Working Capital (DFNWC)		 46 37 28 20 11 5.31 3.38 137 114 201 181
Net Working Capital (NWC)		 46 37 28 20 11 5.31 3.38 137 114 201 181
Net Nonoperating Expense (NNE)		 2.33 2.37 2.96 2.85 1.96 2.09 5.19 7.07 6.49 33 5.97
Net Nonoperating Obligations (NNO)		 -49 -42 -31 -22 -14 -11 -5.61 -153 -133 -213 -189
Total Depreciation and Amortization (D&A)		 0.27 0.21 0.18 0.19 0.07 0.00 0.00 0.00 0.03 0.05 0.06
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -48,373.26% -33,082.68% -28,848.63% -30,676.99% 0.00% 0.00% 0.00% 0.00% -116.28% -65.58%
Debt-free Net Working Capital to Revenue		 0.00% 369,555.04% 279,731.92% 195,011.89% 113,239.65% 0.00% 0.00% 0.00% 0.00% 1,849.71% 1,526.30%
Net Working Capital to Revenue		 0.00% 369,555.04% 279,731.92% 195,011.89% 113,239.65% 0.00% 0.00% 0.00% 0.00% 1,849.71% 1,526.30%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.14) ($0.14) ($0.17) ($0.16) ($0.15) ($0.11) ($4.00) $0.00 $0.00 ($10.10) $0.00
Adjusted Weighted Average Basic Shares Outstanding		 64.35M 63.34M 64.46M 64.48M 64.48M 64.48M 645.22K 13.89M 16.54M 10.41M 30.40M
Adjusted Diluted Earnings per Share		 ($0.14) ($0.14) ($0.17) ($0.16) ($0.15) ($0.11) $0.00 $0.00 $0.00 ($10.10) $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 64.35M 63.34M 64.46M 64.48M 64.48M 64.48M 0.00 3.86M 16.54M 10.41M 30.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($10.10) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 64.39M 64.45M 64.46M 64.48M 64.48M 64.51M 645.32K 3.86M 13.89M 27.56M 27.57M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.87 -6.71 -7.78 -7.25 -4.00 -5.13 -9.96 -15 -18 -72 -17
Normalized NOPAT Margin		 0.00% -67,135.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -666.94% -1,666.05%
Pre Tax Income Margin		 0.00% -90,786.40% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -951.69% -2,240.90%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -12.79 -19.60 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -8.95 -13.72 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -12.79 -19.73 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -8.95 -13.85 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Crescent Biopharma (NASDAQ: CBIO) showed a dramatic balance-sheet improvement over the past year, but its operating results remain deeply loss-making and cash burn is still substantial. The latest Q1 2026 filing shows a company with a very large cash balance, but also negative operating cash flow and a much smaller revenue base than the prior quarter.

  • Cash remained very strong at $189.2 million at the end of Q1 2026, giving the company a sizable liquidity cushion.
  • Current assets far exceed current liabilities: $195.6 million versus $14.2 million, which suggests near-term balance-sheet flexibility.
  • The company has no long-term debt on the Q1 2026 balance sheet, reducing financial risk from leverage.
  • Interest and investment income of $1.4 million helped offset a portion of operating losses in Q1 2026.
  • Operating revenue in Q1 2026 was $1.0 million, down sharply from $10.8 million in Q4 2025, so revenue remains lumpy and limited.
  • R&D spending remains high at $17.9 million in Q1 2026, which is consistent with a development-stage biotech but continues to pressure profitability.
  • Financing activity still matters a lot: Q1 2026 showed a $6.9 million cash outflow from financing activities, while prior quarters had large inflows, indicating a volatile capital structure.
  • CBIO posted a net loss of $23.3 million in Q1 2026, showing the business is still far from profitability.
  • Operating cash flow was negative $8.9 million in Q1 2026, so the core business is still consuming cash.
  • Cash and equivalents fell by $24.0 million in Q1 2026, reflecting ongoing burn from operations, acquisitions, and financing outflows.

Looking at the broader trend, the company’s cash position improved dramatically from early 2024, when cash was just $5.6 million at Q1 2024, to $189.2 million in Q1 2026. That suggests a major funding event or restructuring strengthened the balance sheet. However, the income statement trend remains weak: quarterly losses widened from roughly $10.7 million in Q1 2024 to $23.3 million in Q1 2026, and operating losses stayed persistent across the period.

One encouraging sign is that the company is not carrying debt, and its liquidity appears ample for now. Still, investors should focus on whether management can convert that cash into a more durable revenue stream. The latest quarter suggests that, despite strong liquidity, CBIO remains a speculative biotech story driven more by cash runway than by operating performance.

07/10/26 03:26 PM ETAI Generated. May Contain Errors.

Crescent Biopharma Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Crescent Biopharma's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Crescent Biopharma's net income appears to be on an upward trend, with a most recent value of -$153.94 million in 2025, rising from -$12.77 million in 2015. The previous period was -$37.88 million in 2024. See where experts think Crescent Biopharma is headed by visiting Crescent Biopharma's forecast page.

Crescent Biopharma's total operating income in 2025 was -$152.63 million, based on the following breakdown:
  • Total Gross Profit: $10.84 million
  • Total Operating Expenses: $163.48 million

Over the last 10 years, Crescent Biopharma's total revenue changed from $20.07 million in 2015 to $10.84 million in 2025, a change of -46.0%.

Crescent Biopharma's total liabilities were at $37.28 million at the end of 2025, a 20.8% decrease from 2024, and a 366.6% increase since 2015.

In the past 10 years, Crescent Biopharma's cash and equivalents has ranged from $34.77 million in 2024 to $213.19 million in 2025, and is currently $213.19 million as of their latest financial filing in 2025.

Over the last 10 years, Crescent Biopharma's book value per share changed from 2.13 in 2015 to 14.33 in 2025, a change of 573.9%.


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Financial statements for NASDAQ:CBIO last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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