CBIO Overview

Equity Inducement Awards: Crescent Biopharma's Board approved the grant of options to purchase 129,626 shares to three non-executive employees as part of their 2025 Employment Inducement Incentive Award Plan, with options granted on December 15, 2025.

Option Details: The options have a 10-year term with an exercise price of $13.21 per share, vesting over time based on the employees' continuous service with the company.

Company Vision: Crescent Biopharma aims to become a leading oncology company, focusing on developing innovative therapies for cancer patients, including a PD-1 x VEGF bispecific antibody and novel antibody-drug conjugates.

Pipeline Strategy: The company plans to advance transformative therapies for solid tumors through various modalities and combination regimens, enhancing treatment options for patients.

Partnership Announcement: Crescent Biopharma has formed an exclusive partnership with Sichuan Kelun-Biotech to develop next-generation oncology therapeutics, including the bispecific antibody CR-001 and various antibody-drug conjugates.

Private Placement Details: The company secured a $185 million private placement to support clinical development, with expected closure around December 8, 2023, and participation from several investment firms.

Pipeline Timeline: Crescent anticipates that its products CR-001, CR-002, and CR-003 will enter clinical trials in 2026, with initial proof-of-concept data expected in 2027.

Market Reaction: Following the announcement, Crescent Biopharma's shares experienced a decline of 2.31%, trading at $13.10 at the time of reporting.

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.

Equity Inducement Awards: Crescent Biopharma's Board approved the grant of options to purchase 451,448 shares to eight non-executive employees as part of their 2025 Employment Inducement Incentive Award Plan, effective November 14, 2025.

Option Details: The options have a 10-year term with an exercise price of $13.02 per share, vesting one-fourth on the first anniversary of employment and monthly thereafter, contingent on continuous service.

Company Vision: Crescent Biopharma aims to become a leading oncology company, focusing on innovative cancer therapies, including a PD-1 x VEGF bispecific antibody and novel antibody-drug conjugates.

Contact Information: For further inquiries, Amy Reilly, Chief Communications Officer, can be reached at amy.reilly@crescentbiopharma.com or 617-465-0586.