# Crescent Biopharma Posts $37.7 Million Q3 Loss as R&D Costs Rise

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/56704
Published: 2026-11-13T13:35:24.000Z
Updated: 2026-11-13T13:35:24.000Z
Section: Business

> The net loss widened from $24.607 million a year earlier, while the per-share loss narrowed to $0.90. Crescent had $289.4 million in cash at quarter-end.

Crescent Biopharma posted a $37.726 million third-quarter net loss as research and development spending rose to $34.305 million, an increase the company tied primarily to work on two clinical trials.

The net loss for the three months ended Sept. 30 was up from $24.607 million in the year-earlier quarter. The loss per basic and diluted ordinary share narrowed to $0.90 from $1.27. Crescent announced the results Nov. 12.

License-agreement revenue totaled $3.117 million, compared with none in the same quarter a year earlier. The revenue came from transferring part of the initial CR-001 supply to Kelun.

Research and development expenses increased from $20.347 million. Crescent attributed most of the increase to clinical development in its global Phase 1/2 ASCEND trial and preparation for its global Phase 1/2 APOLLO trial. General and administrative expenses also rose, reaching $8.719 million compared with $5.538 million a year earlier.

Crescent had $289.4 million in cash and cash equivalents as of Sept. 30. The company expects those funds to support operations into the second half of 2028. It also expects initial monotherapy data from the global ASCEND trial in the first quarter of 2027.

The clinical-stage biotechnology company focuses on solid tumors. It has no products approved for sale and has not generated product-sales revenue.