Healthcare · Biotechnology
Price
$17.53
Market Cap
$483.3M
Employees
41
Beta
1.15
Avg Volume
278,167
CEO
Joshua T. Brumm
Business Description
Crescent Biopharma, Inc. is a biotechnology firm dedicated to the research and development of novel cancer therapies. Its investigational portfolio notably includes CR-001, a proprietary bispecific antibody engineered to simultaneously target PD-1 and VEGF pathways for the treatment of solid tumors. The company's pipeline further comprises CR-002 and CR-003. Crescent Biopharma also maintains a strategic alliance with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., focusing on the joint advancement and commercialization of oncology therapeutics, encompassing innovative combination approaches. The company's operations are headquartered in Waltham, Massachusetts.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-1.19
Stock Price: $17.53
EPS (Diluted): -14.78
EPS (Diluted): -14.78
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.61
Stock Price: $17.53
Total Equity: $203.01M
Shares: 10,413,649
Total Equity: $203.01M
Shares: 10,413,649
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
0.59
Market Cap: $483.34M
Total Debt: $0.00
Cash: $213.19M
EBITDA: -$149.67M
Total Debt: $0.00
Cash: $213.19M
EBITDA: -$149.67M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
-$88.0M
Market Cap: $483.34M
Total Debt: $0.00
Cash: $213.19M
Total Debt: $0.00
Cash: $213.19M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
11.39
Stock Price: $17.53
Revenue: $10.84M
Shares: 10,413,649
Revenue: $10.84M
Shares: 10,413,649
EV/Sales (Total value vs revenue — works when P/E can't)
API-8.12
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
100.0%
Gross Profit: $10.84M
Revenue: $10.84M
Revenue: $10.84M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-1,407.5%
Operating Income: -$152.63M
Revenue: $10.84M
Revenue: $10.84M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-1,419.6%
Net Income: -$153.94M
Revenue: $10.84M
Revenue: $10.84M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-75.8%
Net Income: -$153.94M
Total Equity: $203.01M
Total Equity: $203.01M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
1,519.1%
Operating Income: -$152.63M
Tax Rate: -1.3%
Equity: $203.01M
Total Debt: $0.00
Cash: $213.19M
Tax Rate: -1.3%
Equity: $203.01M
Total Debt: $0.00
Cash: $213.19M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
6.56
Current Assets: $236.66M
Current Liabilities: $36.07M
Current Liabilities: $36.07M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $203.01M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $203.01M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$1.04
Revenue: $10.84M
Shares: 10,413,649
Shares: 10,413,649
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$19.49
Total Equity: $203.01M
Shares: 10,413,649
Shares: 10,413,649
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-6.96
Operating CF: -$71.53M
CapEx: -$919,000
Shares: 10,413,649
CapEx: -$919,000
Shares: 10,413,649
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $17.53
Stock Price: $17.53
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$153.94M
Net Income: -$153.94M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CBIO against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 8:38am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.2M | $75,000 | $10,000 | $0 | $10.8M |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $1.2M | $75,000 | $10,000 | $0 | $10.8M |
| Operating Expenses | $64.6M | $47.5M | $39.3M | $49.9M | $163.5M |
| Operating Income | -$63.4M | -$47.4M | -$39.3M | -$49.9M | -$152.6M |
| Net Income | -$63.4M | -$46.7M | -$36.9M | -$48.5M | -$153.9M |
| EBITDA | -$63.2M | -$47.2M | -$39.1M | -$44.2M | -$149.7M |
| EPS | $-1.23 | $-0.89 | $-0.58 | $-1.40 | $-14.78 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 8:38am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $90.3M | $47.9M | $41.8M | $34.8M | $213.2M |
| Total Current Assets | $90.8M | $50.7M | $43.8M | $34.8M | $236.7M |
| Total Assets | $94.3M | $51.8M | $45.3M | $35.6M | $240.3M |
| Current Liabilities | $11.8M | $8.9M | $6.8M | $9.6M | $36.1M |
| Long-Term Debt | $0 | $0 | $0 | $37.5M | $0 |
| Total Liabilities | $12.7M | $8.9M | $6.9M | $51.1M | $37.3M |
| Total Equity | $81.6M | $42.9M | $38.4M | -$15.5M | $203.0M |
| Retained Earnings | -$372.9M | -$419.6M | -$456.5M | -$17.9M | -$171.8M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 8:38am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$57.5M | -$46.5M | -$34.9M | -$31.1M | -$71.5M |
| Capital Expenditure | $-14,943 | $-84,191 | $-21,394 | $-9,972 | $-919,000 |
| Free Cash Flow | -$57.5M | -$46.5M | -$34.9M | -$31.1M | -$72.5M |
| Acquisitions (net) | $0 | $0 | $0 | $30,000 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $-177,000 |
| Net Change in Cash | -$46.8M | -$42.4M | -$6.1M | -$31.1M | $178.5M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 12:44pm (20h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$5.6M $5.3M – $7.0M
|
$8.2M $7.8M – $10.3M
|
$16.7M $16.0M – $20.9M
|
$76.9M $73.6M – $96.2M
|
| EBITDA |
-$3.3M -$4.2M – -$3.2M
|
-$4.9M -$6.2M – -$4.7M
|
-$10.0M -$12.6M – -$9.6M
|
-$46.1M -$57.7M – -$44.1M
|
| Net Income |
-$33.6M -$38.0M – -$29.2M
|
-$36.0M -$45.1M – -$26.9M
|
-$38.9M -$51.7M – -$36.8M
|
-$35.6M -$47.3M – -$33.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 8:38am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -93.5% | -86.7% | -100.0% | — |
| Gross Profit Growth | -93.5% | -86.7% | -100.0% | — |
| Operating Income Growth | +25.3% | +17.1% | -27.0% | -205.9% |
| Net Income Growth | +26.4% | +21.0% | -31.5% | -217.3% |
| EBITDA Growth | +25.3% | +17.1% | -12.9% | -238.8% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for CBIO — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30