Crescent Biopharma

Crescent Biopharma is offering 8,094,793 common shares and pre-funded warrants at $14.50 and $14.499 respectively, and expects gross proceeds of about $125 million. The offer price is below the recent $15.30 trading price and includes a 30-day over-allotment option for up to 1,293,103 additional shares. Closing is expected on Thursday and the transaction is subject to customary conditions. » More on de.investing.com

Crescent Biopharma announced the start of a public, syndicated offering of common stock or prepaid warrants to acquire common stock. The syndicate banks have a 30-day option to purchase up to an additional 15% of the shares; all securities to be issued would be sold by Crescent and the offering is subject to market and other conditions. The shares last traded at $15.30; the deal is being made pursuant to an S-3 registration effective July 10, 2026. Jefferies, TD Cowen, Guggenheim Securities and Cantor are acting as joint book-running managers. Crescent is developing clinical cancer therapies, including a bispecific antibody (PD-1 x VEGF) and antibody–drug conjugates. » More on de.investing.com

Crescent Biopharma is presenting poster data from the ongoing ASCEND study at the ASCO annual meeting, testing CR‑001, a bispecific PD‑1 x VEGF antibody, across various solid tumors. The global phase‑1/2 study includes up to 290 patients in dose‑escalation, backfill and dose‑optimization cohorts; primary endpoints are safety and tolerability, with secondary endpoints including pharmacokinetics, pharmacodynamics and preliminary antitumor activity. Crescent expects clinical proof‑of‑concept data from ASCEND in Q1 2027 and initial combination data with standard chemotherapy in mid‑2027. The company has granted exclusive Greater China rights to Sichuan Kelun‑Biotech; the stock has risen sharply this year but remains unprofitable with a loss of $8.05 per share and is currently rated overvalued by InvestingPro. » More on de.investing.com