Credit and interest ratesmixed · 2 filings
“No interest expense was recognized for the three months ended March 31, 2026 due to the conversion of the Convertible Notes immediately prior to the closing of the Merger.”10-Q · Apr 29, 2026 ↗
Crescent Biopharma, Inc.
CBIO
Market read
Crescent Biopharma, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Company-2.7% todayVolume comparison unavailable
Market group0 of 11 activeBuilding Materials & Biotech · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- CBIO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if CBIO's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 11 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- CBIO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements51
Verified relationships7
Evidence supporting the case
- Latest annual revenue changed +108340.0% year over year.
- Operating margin changed +391345.4 percentage points in the latest annual period.
- Net margin changed +367574.6 percentage points in the latest annual period.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 10, 2026
19.496m+61.2%12m+36.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2020-12-31$10.2M+54834.8%$-1.12—
2021-12-31$1.2M-88.6%$-1.23+12.5%
2022-12-31$75,000-93.5%$-0.89+2.1%
2023-12-31$10,000-86.7%$-0.58+20.6%
2025-12-31$10.8M+108340.0%——
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposuremixed · 2 filings
“Kelun paid or will pay the Company the following: • $ 20.0 million within 30 days of signing; • up to $ 30.0 million in development and regulatory milestone payments; and • tiered royalties ranging from low- to mid-single digits based on annual net sales in t…”10-Q · Apr 29, 2026 ↗
Product pipeline and R&Dmixed · 1 filings
“Net cash used in investing activities for the twelve months ended December 31, 2025 were primarily attributable to $72.0 million for the purchase of a research and development license, as well as purchases of property and equipment associated with the build-o…”10-K · Feb 26, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
Scenario scaffold
No usable price/earnings or price/sales multiple (need a fresh price).
Price action
How the market is pricing the story
19.49-2.7% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for CBIO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for CBIO. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind CBIO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MRKMerck & Co., Inc.competitorApr 29, 2026 ▾
“First, we are developing CR-001, which we refer to as a PD-1 x VEGF bispecific antibody because it is designed to bind both the PD-1 immune checkpoint (“PD-1”) and Vascular Endothelial Growth Factor (“VEGF”), which has potential to replace pembrolizumab, mark…”
SKBBYFiling-linked namepartnerFeb 26, 2026 ▾
“We recently announced a partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd.”
AZNAstraZeneca PLCcompetitorApr 29, 2026 ▾
“We compete with a variety of multinational biopharmaceutical companies, specialized biotechnology companies and emerging biotechnology companies, including Merck, Bristol Myers Squibb, Genentech, AstraZeneca, Summit Therapeutics Inc., BioNTech SE, LaNova Medi…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
CBIO is currently a Follower in the organic co-movement group Building Materials & Biotech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for CBIO; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.