Crescent Biopharma Q1 net loss widens on R&D expenses

Crescent Biopharma

29/04/2026 21:39

Overview

U.S. oncology biotech's Q1 net loss and operating loss beat analyst expectations

Q1 revenue was $1 mln, up from no revenue a year ago, due to a licensing payment

R&D and G&A expenses rose, driven by pipeline advancement and public company costs

Outlook

Company expects proof-of-concept data from CR-001 ASCEND trial in Q1 2027

Initial data from CR-001 in combination with chemotherapy expected by mid-2027

CR-002 Phase 1/2 trial expected to start in H2 2026, with proof-of-concept data in H2 2027

Result Drivers

LICENSING REVENUE - Q1 revenue driven by $20 mln upfront payment from Kelun-Biotech license agreement for CR-001, recognized as $1 mln in the quarter

PIPELINE DEVELOPMENT - Higher R&D expenses attributed to continued development of CR-001 and CR-002

PUBLIC COMPANY COSTS - G&A expenses rose due to personnel costs and professional services tied to public company operations

Company press release: ID:nGNX4NcYxQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
Beat
-$23.28 mln
-$26.41 mln (7 Analysts)
Q1 Income from Operations
Beat
-$24.73 mln
-$27.43 mln (7 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Crescent Biopharma Inc is $28.00, about 16.9% above its April 28 closing price of $23.96

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)