Crescent and Kelun-Biotech Finalize Oncology Partnership; Crescent Plans to Raise $185 Million; Stock Price Increases
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 04 2025
0mins
Source: NASDAQ.COM
Partnership Announcement: Crescent Biopharma, Inc. has formed an exclusive partnership with Sichuan Kelun-Biotech to develop and commercialize oncology therapeutics, including CR-001 and SKB105, with both expected to enter Phase 1/2 trials in 2026.
Financial Details: The collaboration includes significant financial arrangements, with Kelun-Biotech receiving an $80 million upfront payment and potential milestone payments totaling up to $1.25 billion, while Crescent will receive $20 million upfront and up to $30 million in milestones.
Private Securities Deal: Crescent Biopharma has also announced a private securities deal expected to raise approximately $185 million, which will fund key clinical data readouts starting in 2027 and extend the company's cash runway into 2028.
Market Reaction: Following the announcement, Crescent Biopharma's shares surged over 36% in pre-market trading, reflecting positive investor sentiment regarding the partnership and funding initiatives.
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Analyst Views on CBIO
Wall Street analysts forecast CBIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CBIO is 28.20 USD with a low forecast of 22.00 USD and a high forecast of 35.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 10.730
Low
22.00
Averages
28.20
High
35.00
Current: 10.730
Low
22.00
Averages
28.20
High
35.00
About CBIO
Crescent Biopharma, Inc. is a biotechnology company. The Company is focused on advancing the next wave of therapies for cancer patients. The Company’s pipeline includes its lead program, a PD-1 x VEGF bispecific antibody, as well as novel antibody-drug conjugates. The Company’s lead program is CR-001, a tetravalent PD-1 x VEGF bispecific antibody in development for the treatment of solid tumors, and it is also advancing CR-002 and CR-003, antibody drug conjugates (ADCs) with topoisomerase inhibitor payloads. CR-002 and CR-003 are ADCs designed to deliver clinically active cytotoxic drugs known as topoisomerase inhibitors to tumor cells. Each of these programs has the potential to deliver therapeutics with clinical efficacy both as a monotherapy and in combination with CR-001 with significant potential across solid tumor indications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Crescent Biopharma Grants 129,626 Stock Options to Attract Talent
- Options Grant: Crescent Biopharma's Board approved the grant of 129,626 stock options to three non-executive employees as part of the 2025 Employment Inducement Incentive Award Plan, aimed at attracting key talent and enhancing team stability.
- Incentive Structure: The options have an exercise price of $13.21 per share, aligning with the closing price on December 15, 2025, ensuring that employees can benefit financially as the company performs well.
- Vesting Schedule: Options will vest one-fourth on the first anniversary of the employee's start date, with one-forty-eighth vesting monthly thereafter, ensuring long-term employee commitment through continuous service with Crescent.
- Strategic Aim: By implementing such incentive measures, Crescent Biopharma aims to build an efficient oncology team to rapidly advance innovative therapies like its PD-1 x VEGF bispecific antibody, further solidifying its market position in the biotechnology sector.
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