Crescent Biopharma, Inc.

Biotechnology • Healthcare • Waltham, MA, United States • CBIO (NCM)

617-430-5595 300 Fifth Avenue, Waltham, MA 02451, United States

Quarter: Q2 2025 Reported: June 18, 2025 Sentiment: Neutral

Crescent Biopharma, Inc., a biotechnology company, researches and develops cancer therapy candidates. Its pipeline includes CR-001, a proprietary anti-PD-1/anti-VEGF bispecific antibody to treat solid tumors; and CR-002, and CR-003. The company has a strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. for the development and commercialization of oncology therapeutics, including novel combinations. The company is headquartered in Waltham, Massachusetts.

Analysis Summary

The provided earnings call transcript for CRESCENT BIOPHARMA, INC. (CBIO) for Q2 2025 is exceptionally brief, acting solely as a formal disclosure that the company's financial results and related analyses are available in accompanying exhibits. It explicitly states that the unaudited interim condensed financial statements for the three months ended March 31, 2025, are attached as Exhibit 99.2. Management's Discussion and Analysis of Financial Condition and Results of Operations for the same period is incorporated by reference as Exhibit 99.3. Furthermore, unaudited pro forma condensed combined financial information of GlycoMimetics and Crescent, covering the three months ended March 31, 2025, and twelve months ended December 31, 2024, is provided in Exhibit 99.4.

Due to the nature of this transcript, which only points to external documents, there is no direct information available regarding detailed financial performance breakdown, strategic initiatives, business segment analysis, management commentary, forward guidance, competitive positioning, market trends, risk factors, or highlights from any analyst Q&A. All such critical information would need to be extracted directly from the referenced Exhibits 99.2, 99.3, and 99.4. The transcript itself offers no insights into the company's operational achievements, challenges, or future outlook, making a comprehensive analysis based solely on this text impossible.

Key Highlights

• Q2 2025 unaudited interim condensed financial statements are available in Exhibit 99.2.
• Management's Discussion and Analysis of Financial Condition and Results of Operations for Q2 2025 is in Exhibit 99.3.
• Unaudited pro forma condensed combined financial information for GlycoMimetics and Crescent is in Exhibit 99.4.
• No specific financial figures (revenue, earnings, EPS) were disclosed in the provided transcript.
• No forward guidance or strategic updates were presented in the provided transcript.
• The transcript serves as a formal reference to detailed financial filings.

Financial Metrics

eps

YoY: Not disclosed in provided transcript; refer to Exhibit 99.2.

revenue

N/A

YoY: Not disclosed in provided transcript; refer to Exhibit 99.2.

guidance

net income

N/A

YoY: Not disclosed in provided transcript; refer to Exhibit 99.2.

Stock Performance (90 Days)

Data through Dec 26, 2025

Positive Signals

• Formal and clear referencing of detailed financial documents.
• Adherence to regulatory disclosure requirements by referencing exhibits.
• Availability of pro forma combined financial information, suggesting recent strategic activity (GlycoMimetics merger/acquisition).

Risks & Concerns

— Lack of immediate financial transparency in the provided transcript, requiring external document review.
— Potential for undisclosed negative information within the referenced exhibits.
— Uncertainty regarding operational performance and future outlook without direct management commentary.