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CBIO News
CBIO Events
Crescent CEO: CR-001 Clinical Data to be Released in 2027
"We have continued to demonstrate exceptional execution and are on track for multiple key clinical data readouts across our portfolio in 2027. The positive momentum in our ASCEND trial of CR-001 positions us for robust datasets from hundreds of patients globally in monotherapy and standard of care chemotherapy combinations across several tumor types. CR-001 is the first PD-1 x VEGF bispecific antibody to be evaluated in combination with sac-TMT, and we are proud to be partnering with Kelun-Biotech to realize its full potential as an immuno-oncology backbone. Our ADC pipeline also is advancing, with the CR-003 clinical trial enrolling in China and we are preparing for CR-002 to enter the clinic in a global study during the second half of this year," said Joshua Brumm, chief executive officer of Crescent. "Our recent financing extends our expected cash runway into the second half of 2028, beyond key catalysts, strengthening our balance sheet as we work to deliver transformative therapies for people living with cancer."
Jefferies, TD Cowen, Guggenheim, and Cantor Act as Joint Book-Running Managers
Jefferies, TD Cowen, Guggenheim, and Cantor are acting as joint book-running managers. LifeSci Capital is acting as a book-running manager.
BTIG Analyst Sees AbbVie Acquiring Apogee as Positive
BTIG analyst Julian Harrison says AbbVie (ABBV) can leverage its existing dermatology channels and compete in atopic dermatitis beyond JAK inhibitors with an acquisition of Apogee Therapeutics (APGE). Johnson & Johnson (JNJ), Pfizer (PFE), and Novartis (NVS) have strong dermatology channels but no prominent commercial presence in atopic dermatitis yet, and therefore could also be interested in acquiring Apogee, the analyst tells investors in a research note. BTIG views the Financial Times' report of AbbVie's potential buyout of Apogee as positive for other spinouts from Paragon Therapeutics, including Jade Biosciences (JBIO), Oruka Therapeutics (ORKA), Spyre Therapeutics (SYRE), and Crescent Biopharma (CBIO). The firm has a Buy rating on Apogee Therapeutics with a $137 price target. The stock in premarket trading is up 54%, or $49.10, to $139.48.
Crescent Reports Q1 Revenue of $1.04M
Reports Q1 revenue $1.04M, consensus $357,140. "Crescent's execution on the advancement of our pipeline this quarter positions us for meaningful clinical data readouts in 2027 from CR-001, our potentially best-in-class PD-1 x VEGF bispecific antibody, as well as our differentiated ADC programs. The innovative design of our Phase 1/2 ASCEND study of CR-001 enables us to quickly generate comprehensive data for this next generation immuno-oncology backbone both as monotherapy and in combination with standard of care chemotherapy in multiple tumor types, and we're also working with our partner, Kelun-Biotech, to deliver ADC combination data," said Joshua Brumm, chief executive officer of Crescent. "We are pleased that both our global ASCEND trial and the Phase 1/2 trial of CR-003 in China are progressing well. We are on track to initiate two more trials during the second half of 2026, with the first ADC combination study for CR-001 and planned clinic entry for CR-002. This continued momentum underscores our commitment to delivering transformative therapies for people living with cancer."
Cash and Cash Equivalents at $213.2 Million, Expected to Fund Operations into 2028
Cash and cash equivalents were $213.2 million as of December 31, 2025, which is anticipated to fund operations into 2028.
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