Crescent Biopharma (CBIO) financial statements
Crescent Biopharma reported revenue of $11M in fiscal 2025, up 103.0% a year over 9 years.
Net income was -$154M and the operating margin -1407.5%, against -172505.3% in 2016.
Free cash flow was -$72M.
The diluted share count rose 203% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Crescent Biopharma's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18,500 | — | — | — | $10M | $1M | $75,000 | $10,000 | — | $11M |
| Research and development | $23M | $24M | $40M | $47M | $45M | $47M | $28M | $20M | $14M | $138M |
| Selling, general and admin | $9M | $10M | $11M | $14M | $17M | $17M | $19M | $19M | $18M | $25M |
| Operating income | -$32M | -$34M | -$52M | -$61M | -$52M | -$63M | -$47M | -$39M | -$40M | -$153M |
| Interest expense | — | — | — | — | — | — | — | — | — | $2M |
| Pre-tax income | — | — | — | — | — | — | — | — | — | -$152M |
| Income tax | — | — | — | — | — | — | — | — | — | $2M |
| Net income | -$32M | -$33M | -$48M | -$58M | -$51M | -$63M | -$47M | -$37M | -$38M | -$154M |
| EPS (diluted) | -$1.50 | -$1.13 | -$1.18 | -$1.34 | -$1.12 | -$1.23 | -$0.89 | -$0.58 | -$0.59 | — |
| Diluted shares | 21M | 29M | 41M | 43M | 46M | 51M | 53M | 63M | 64M | — |
| Operating margin | -172505.3% | — | — | — | -506.8% | -5470.7% | -63204.4% | -392752.9% | — | -1407.5% |
| Net margin | -171945.1% | — | — | — | -502.1% | -5469.0% | -62251.7% | -368994.2% | — | -1419.6% |
Balance sheet
Fiscal years, from Crescent Biopharma's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $124M | $210M | $158M | $137M | $90M | $48M | $42M | $35M | $213M |
| Receivables | — | — | — | — | — | — | — | — | $0 | $18M |
| Total current assets | $41M | $127M | $212M | $163M | $138M | $91M | $51M | $44M | $35M | $237M |
| Property, plant and equipment | $1M | $1M | $957,226 | $822,920 | $620,673 | $368,842 | $242,390 | — | $0 | $846,000 |
| Total assets | $42M | $129M | $215M | $168M | $143M | $94M | $52M | $45M | $36M | $240M |
| Total current liabilities | $6M | $8M | $9M | $11M | $12M | $12M | $9M | $7M | $10M | $36M |
| Total liabilities | $7M | $9M | $9M | $14M | $15M | $13M | $9M | $7M | $47M | $37M |
| Shareholders' equity | $35M | $120M | $205M | $154M | $128M | $82M | $43M | $38M | -$15M | $203M |
| Net debt | -$40M | -$124M | -$210M | -$158M | -$137M | -$90M | -$48M | -$42M | -$35M | -$213M |
Cash flow
Fiscal years, from Crescent Biopharma's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30M | -$30M | -$43M | -$52M | -$39M | -$57M | -$46M | -$35M | -$31M | -$72M |
| Capital spending | $704,202 | $294,107 | $125,618 | $144,928 | $68,507 | $14,943 | $84,191 | $21,394 | $9,972 | $919,000 |
| Free cash flow | -$30M | -$30M | -$43M | -$52M | -$39M | -$58M | -$47M | -$35M | -$31M | -$72M |
| Stock-based compensation | $3M | $4M | $5M | $6M | $7M | $6M | $4M | $4M | $5M | $13M |
| Free cash flow margin | -164516.0% | — | — | — | -386.8% | -4958.3% | -62055.6% | -349013.0% | — | -668.1% |
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Open CBIO in InvestinglyQuestions
What was Crescent Biopharma's revenue in 2025?
$11M in fiscal 2025, from its 10-K filing.
How much free cash flow does Crescent Biopharma generate?
-$72M in fiscal 2025 (operating cash flow minus capital spending).
From Crescent Biopharma's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.