Crescent Biopharma Inc
CBIOBuild a strategy around CBIO
Crescent Biopharma Inc AI Insights
Informational only. Not investment advice.Snapshot
- Cash of 133.3M covers 7.4 years of current burn rate (-17.5M TTM cash flow), providing extended runway for clinical development.[Cash and Equivalents]
- Trading at 2.1x book with 112.6M tangible equity and zero goodwill - enterprise value of 108.2M implies market values pipeline near zero.[P/B Ratio]
- R&D spend of 20.3M is 79% of operating expenses (25.9M TTM) - lean G&A structure at 5.5M signals capital efficiency.[Research and Development]
Watch Triggers
- Cash and Equivalents: Falls below 80M or burn rate exceeds 25M annually — Would signal potential dilutive financing within 3 years, destroying thesis
- Research and Development: Increases >50% without clinical milestone announcements — May indicate trial setbacks requiring expanded enrollment or protocol changes
- Issuance of Capital Stock: Turns positive (net issuance) above 20M — Unexpected dilution signals cash concerns or accelerated spending plans
Bull Case
Enterprise value of 108.2M is below cash position (133.3M) - market assigns negative value to pipeline, creating asymmetric upside on any clinical success.
Near-zero debt (0.015 D/E) and 114.3M working capital eliminate bankruptcy risk, allowing full focus on R&D execution.
Bear Case
Zero revenue with -24.6M net loss TTM means 100% binary risk - value creation entirely dependent on clinical/regulatory outcomes.
ROE of -21.8% and ROIC of -20.8% TTM reflect capital destruction phase with no visibility to profitability timeline.
Bull vs Bear Balance
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Forward Thesis
Cash runway of 7+ years positions CBIO to reach multiple clinical catalysts without dilutive financing
- 133.3M cash vs 17.5M annual burn
- Minimal debt (1.7M total, 0.015 D/E)
- R&D-focused spend structure
Valuation Context
Caveats
CBIO Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$505.67M | — | ||
$318.05M | — | ||
0.00 | — | ||
$11.88M | — | ||
$-5.88 | — | ||
-1,373% | — | ||
-1,364% | — | ||
$-150.68M | — | ||
-90.1% | — | ||
Beta 5Y (Monthly) | unknown | — |
CBIO Dividend History
CBIO Stock Splits
CBIO SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
04/29/26 | 03/31/26 | 10-Q | |
02/26/26 | 12/31/25 | 10-K | |
11/06/25 | 09/30/25 | 10-Q | |
07/31/25 | 06/30/25 | 10-Q | |
04/29/26 | 03/31/25 | 10-Q | |
02/18/25 | 12/31/24 | S-4 |