Crescent Biopharma (CBIO)
Market Price (9/8/2026): $20.85 | Market Cap: $636.6 MilSector: Health Care | Industry: Biotechnology
Crescent Biopharma (CBIO)
Market Price (9/8/2026): $20.85Market Cap: $636.6 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -27% Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -4.5%, 3Y Excs Rtn is -39% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -168 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1418% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 125% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -612%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1293% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -30% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.13 Key risksCBIO key risks include [1] its heavy reliance on the success of its lead drug candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -27% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -4.5%, 3Y Excs Rtn is -39% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -168 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1418% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 125% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -612%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1293% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -30% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 17.13 |
| Key risksCBIO key risks include [1] its heavy reliance on the success of its lead drug candidate, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/3/2026
Crescent Biopharma (CBIO) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 financial results were counterbalanced by strong financing. Crescent Biopharma reported a net loss of $24.8 million for fiscal Q2 2026 and missed expected revenue targets of $357.00K. This negative financial performance was largely offset by the successful completion of a $143.7 million public offering in July 2026, which significantly bolstered the company's cash position and extended its expected cash runway into the second half of 2028, providing financial stability.
2. Ongoing clinical pipeline advancements lacked immediate major data readouts. While Crescent Biopharma continued to advance its oncology pipeline with key developments, such as Kelun-Biotech receiving IND approval for CR-001 in China in May 2026 and initiating Phase 1/2 trials, and the planned initiation of the CR-002 global trial in the second half of 2026, major clinical data readouts are not anticipated until fiscal Q1 2027. This absence of immediate breakthrough data kept the stock in a holding pattern, as investors awaited future catalysts.
Show more
Crescent Biopharma (CBIO) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 financial results were counterbalanced by strong financing. Crescent Biopharma reported a net loss of $24.8 million for fiscal Q2 2026 and missed expected revenue targets of $357.00K. This negative financial performance was largely offset by the successful completion of a $143.7 million public offering in July 2026, which significantly bolstered the company's cash position and extended its expected cash runway into the second half of 2028, providing financial stability.
2. Ongoing clinical pipeline advancements lacked immediate major data readouts. While Crescent Biopharma continued to advance its oncology pipeline with key developments, such as Kelun-Biotech receiving IND approval for CR-001 in China in May 2026 and initiating Phase 1/2 trials, and the planned initiation of the CR-002 global trial in the second half of 2026, major clinical data readouts are not anticipated until fiscal Q1 2027. This absence of immediate breakthrough data kept the stock in a holding pattern, as investors awaited future catalysts.
Show more
Updated on 9/3/2026
Crescent Biopharma (CBIO) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 financial results were counterbalanced by strong financing. Crescent Biopharma reported a net loss of $24.8 million for fiscal Q2 2026 and missed expected revenue targets of $357.00K. This negative financial performance was largely offset by the successful completion of a $143.7 million public offering in July 2026, which significantly bolstered the company's cash position and extended its expected cash runway into the second half of 2028, providing financial stability.
2. Ongoing clinical pipeline advancements lacked immediate major data readouts. While Crescent Biopharma continued to advance its oncology pipeline with key developments, such as Kelun-Biotech receiving IND approval for CR-001 in China in May 2026 and initiating Phase 1/2 trials, and the planned initiation of the CR-002 global trial in the second half of 2026, major clinical data readouts are not anticipated until fiscal Q1 2027. This absence of immediate breakthrough data kept the stock in a holding pattern, as investors awaited future catalysts.
3. Significant insider buying was observed amid prior share dilution. In July 2026, Fairmount Funds Management LLC, a significant shareholder, made an insider purchase exceeding $12.3 million. This substantial investment signaled strong confidence. However, the positive impact of this buying was likely tempered by a notable share dilution over the past year, with total shares outstanding increasing by 118.9%, which can spread out the value per share and limit upward movement.
Show less
Crescent Biopharma (CBIO) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Mixed fiscal Q2 2026 financial results were counterbalanced by strong financing. Crescent Biopharma reported a net loss of $24.8 million for fiscal Q2 2026 and missed expected revenue targets of $357.00K. This negative financial performance was largely offset by the successful completion of a $143.7 million public offering in July 2026, which significantly bolstered the company's cash position and extended its expected cash runway into the second half of 2028, providing financial stability.
2. Ongoing clinical pipeline advancements lacked immediate major data readouts. While Crescent Biopharma continued to advance its oncology pipeline with key developments, such as Kelun-Biotech receiving IND approval for CR-001 in China in May 2026 and initiating Phase 1/2 trials, and the planned initiation of the CR-002 global trial in the second half of 2026, major clinical data readouts are not anticipated until fiscal Q1 2027. This absence of immediate breakthrough data kept the stock in a holding pattern, as investors awaited future catalysts.
3. Significant insider buying was observed amid prior share dilution. In July 2026, Fairmount Funds Management LLC, a significant shareholder, made an insider purchase exceeding $12.3 million. This substantial investment signaled strong confidence. However, the positive impact of this buying was likely tempered by a notable share dilution over the past year, with total shares outstanding increasing by 118.9%, which can spread out the value per share and limit upward movement.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 1.1% change in CBIO stock from 5/31/2026 to 9/7/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.65 | 20.88 | 1.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 12 | 0.0% |
| P/S Multiple | � | 53.6 | 0.0% |
| Shares Outstanding (Mil) | 20 | 31 | -36.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| CBIO | 1.1% | |
| Market (SPY) | 1.8% | 25.2% |
| Sector (XLV) | 14.7% | 24.4% |
Fundamental Drivers
The 72.7% change in CBIO stock from 2/28/2026 to 9/7/2026 was primarily driven by a 58.0% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.09 | 20.88 | 72.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 12 | 9.6% |
| P/S Multiple | 33.9 | 53.6 | 58.0% |
| Shares Outstanding (Mil) | 30 | 31 | -0.3% |
| Cumulative Contribution | 72.7% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| CBIO | 72.7% | |
| Market (SPY) | 12.6% | 16.7% |
| Sector (XLV) | 7.5% | 23.7% |
Fundamental Drivers
The 45.0% change in CBIO stock from 8/31/2025 to 9/7/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.40 | 20.88 | 45.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 12 | 0.0% |
| P/S Multiple | � | 53.6 | 0.0% |
| Shares Outstanding (Mil) | 4 | 31 | -87.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| CBIO | 45.0% | |
| Market (SPY) | 20.4% | 13.3% |
| Sector (XLV) | 26.4% | 18.4% |
Fundamental Drivers
nullnull
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| CBIO | ||
| Market (SPY) | 77.1% | 14.5% |
| Sector (XLV) | 34.7% | 21.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CBIO Return | - | - | - | - | -25% | 72% | 29% |
| Peers Return | 17% | 27% | -12% | 115% | 11% | 20% | 276% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| CBIO Win Rate | - | - | - | - | 57% | 56% | |
| Peers Win Rate | 57% | 45% | 42% | 47% | 48% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| CBIO Max Drawdown | - | - | - | - | - | -46% | |
| Peers Max Drawdown | -29% | -33% | -34% | -34% | -31% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMMT, MRK, PFE, GILD, REGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
CBIO has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -11.7% | -18.8% |
| % Gain to Breakeven | 13.3% | 23.1% |
| Time to Breakeven | 142 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.8% | -24.5% |
| % Gain to Breakeven | 15.9% | 32.4% |
| Time to Breakeven | 166 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.9% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.0% | -19.2% |
| % Gain to Breakeven | 17.6% | 23.8% |
| Time to Breakeven | 191 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.9% | -12.2% |
| % Gain to Breakeven | 18.9% | 13.9% |
| Time to Breakeven | 165 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -15.8% | -17.9% |
| % Gain to Breakeven | 18.8% | 21.8% |
| Time to Breakeven | 153 days | 123 days |
In The Past
State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
CBIO has limited trading history. Below is the Health Care sector ETF (XLV) in its place.
| Event | XLV | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -27.9% | -33.7% |
| % Gain to Breakeven | 38.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -37.9% | -53.4% |
| % Gain to Breakeven | 61.1% | 114.4% |
| Time to Breakeven | 767 days | 1085 days |
In The Past
State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Crescent Biopharma (CBIO)
GlycoMimetics, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in the United States. It is developing uproleselan, an E-selectin inhibitor, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as in phase 3 trial to treat relapsed/refractory AML. In addition, the company is developing GMI-1359, which targets e-selectin and a chemokine receptor for the treatment of cancers that affect the bone and bone marrow, including solid tumors. It also develops various other programs, including GMI-1687, an antagonist of E-selectin to treat vaso-occlusive crisis; and galectin-3 antagonists, a carbohydrate-binding protein. The company has a cooperative research and development agreement with the National Cancer Institute; and a collaboration and license agreement with Apollomics (Hong Kong) Limited for the development and commercialization of uproleselan and GMI-1687. GlycoMimetics, Inc. was incorporated in 2003 and is headquartered in Rockville, Maryland.
AI Analysis | Feedback
Here are a few analogies for GlycoMimetics, Inc. (CBIO):
- It's like a clinical-stage version of a major biotech firm such as Amgen or Gilead, focused on developing new types of drugs for cancers like leukemia.
- Think of it as a specialized drug developer, akin to an early-stage Genentech, but focused on unique 'sugar-mimicking' drugs to combat challenging blood cancers.
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
Key Risks to the Business of Crescent Biopharma (symbol: CBIO)
- Clinical Trial Failure and Regulatory Approval Risk: Crescent Biopharma, as described in the background, is a clinical-stage biotechnology company with its key drug candidates, such as uproleselan, GMI-1359, GMI-1687, and galectin-3 antagonists, still in various stages of development. Uproleselan is in a Phase 3 trial for acute myeloid leukemia (AML). The failure of these clinical trials, especially the late-stage trial for uproleselan, or the inability to secure regulatory approval for any of its drug candidates, poses a significant risk to the company's future commercial viability.
- Reliance on a Limited Pipeline: The company's value is substantially concentrated in a small number of experimental drug candidates, with uproleselan being the most advanced. Should one or more of these programs fail to achieve successful clinical outcomes or regulatory approval, particularly uproleselan, it would have a disproportionately large and negative impact on the company's business prospects and financial performance.
- Dependence on Collaborative Agreements: The company relies on its cooperative research and development agreement with the National Cancer Institute and a collaboration and license agreement with Apollomics (Hong Kong) Limited for the development and commercialization of uproleselan and GMI-1687. The success and continuation of these partnerships are crucial for advancing these key assets. Any issues or termination of these agreements could hinder the development and potential commercialization of its drug candidates.
AI Analysis | Feedback
null
AI Analysis | Feedback
Crescent Biopharma (symbol: CBIO) focuses on developing novel therapeutics for cancer patients, with its main products including CR-001, a PD-1 x VEGF bispecific antibody for advanced solid tumors, and CR-002 and CR-003, which are antibody-drug conjugates (ADCs) targeting oncology indications. The company was formed following a merger between GlycoMimetics, Inc. and Crescent Biopharma, Inc., with the combined entity now operating as Crescent Biopharma, Inc..
Addressable Markets for Crescent Biopharma's Main Products:
- Solid Tumors (for CR-001, CR-002, and CR-003): The global solid tumors market size was valued at approximately USD 362.21 billion in 2024 and is projected to reach about USD 1,557.42 billion by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 20.00% from 2025 to 2032. North America dominates this market due to the high prevalence of solid tumors and advancements in treatment.
- Bispecific Antibodies (for CR-001, a PD-1 x VEGF bispecific antibody): The global bispecific antibody market size was valued at around USD 31.17 billion in 2025 and is projected to grow to approximately USD 91.09 billion by 2034, at a CAGR of 12.80% during the forecast period. North America held the largest market share for bispecific antibodies in 2025. Another estimate places the global bispecific antibodies market at USD 8.93 billion in 2025, projected to reach USD 16.81 billion by 2035 with a 7.5% CAGR. PD-1 x VEGF bispecific antibodies are a key area within this market, with potential to challenge established immunotherapies.
- Antibody-Drug Conjugates (ADCs) (for CR-002 and CR-003): The global antibody drug conjugates market size was valued between USD 13.51 billion and USD 16.14 billion in 2025. This market is anticipated to reach a range of approximately USD 32.66 billion to USD 71.55 billion by 2031-2035, growing at a CAGR between 9.23% and 28.88% during the forecast periods. North America is a dominant region in the ADC market.
AI Analysis | Feedback
Crescent Biopharma (CBIO) is focused on advancing a pipeline of oncology therapeutics following its merger with GlycoMimetics, Inc. in June 2025. The company's future revenue growth over the next 2-3 years is expected to be driven by the following factors:
- Commercialization of CR-001: Crescent Biopharma's lead program, CR-001, a PD-1 x VEGF bispecific antibody, is currently in a Phase 1/2 clinical trial (ASCEND trial) for advanced solid tumors. The company anticipates proof-of-concept data for CR-001 in the first quarter of 2027. Successful clinical development and subsequent regulatory approval and launch of CR-001 would be a significant driver of product revenue.
- Milestone Payments and Royalties from Strategic Partnership with Kelun-Biotech for CR-003 (SKB105): Crescent Biopharma has an exclusive strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. for the development and commercialization of antibody-drug conjugate (ADC) CR-003 (SKB105) in the U.S. and Europe. This partnership has already contributed to the company's revenue, with Crescent Biopharma reporting $10.8 million in Q4 2025. Further milestone payments associated with the development and regulatory progress of SKB105, along with future royalties from its commercial sales, are expected to be key revenue drivers.
- Advancement and Potential Commercialization of Other Antibody-Drug Conjugates (ADCs): Beyond CR-003, Crescent Biopharma is actively developing other novel ADCs, such as CR-002, as single agents and in combination with CR-001. The successful progression of these candidates through clinical trials and their eventual market introduction could establish new revenue streams for the company.
AI Analysis | Feedback
Share Issuance
- In connection with its merger with Crescent Biopharma, GlycoMimetics issued approximately 1,430,841,779 shares of common stock, 278,010,526 pre-funded warrants, and 308,384 shares of Series A Preferred Stock as of May 3, 2025, prior to a reverse stock split.
- On June 5, 2025, GlycoMimetics executed a 1-for-100 reverse stock split, reducing its outstanding common stock from approximately 64.5 million shares to 0.6 million shares.
- Following the merger and reverse stock split in June 2025, the combined company had approximately 19.5 million shares of common stock and common stock equivalents outstanding.
Inbound Investments
- GlycoMimetics received an upfront cash payment of $9 million from Apollomics for an exclusive collaboration and license agreement for uproleselan and GMI-1687 in Greater China. This agreement, signed in January 2020, also made GlycoMimetics eligible for potential milestone payments totaling approximately $180 million, though the agreement was terminated in February 2025.
- Immediately prior to its merger with GlycoMimetics in June 2025, Crescent Biopharma completed a private financing of $200 million in gross proceeds from a syndicate of healthcare-focused investors. This financing included the conversion of $37.5 million in previously issued convertible notes.
Outbound Investments
- In September 2024, GlycoMimetics sold its rivipansel program to Biossil Inc. for approximately $1 million in cash.
Peer Outperformance in Biotechnology
nullShare of Biotechnology constituents that CBIO has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
66%
of 455 industry peers · 46.6% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
null
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is CBIO's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 14.0% | 91.0% | 127.8% | CAH 415% · MCK 351% · COR 181% |
| Managed Health Care | 8 | 32.5% | -1.2% | 5.5% | OSCR 95% · HQY 52% · ELV 18% |
| Health Care Services | 20 | 19.7% | 52.7% | -0.3% | HIMS 225% · RDNT 145% · DGX 65% |
| Health Care Facilities | 24 | -1.0% | 3.9% | -16.3% | THC 253% · NHC 251% · ENSG 113% |
| Health Care Equipment | 50 | -4.5% | -2.6% | -24.5% | POCI 10775% · UFPT 344% · GKOS 209% |
| Pharmaceuticals | 63 | -1.5% | 3.3% | -33.4% | LQDA 2415% · INDV 1137% · ETON 1074% |
| Health Care Supplies | 12 | 27.9% | -10.8% | -36.2% | LNTH 286% · HAE 63% · MMSI 24% |
| Life Sciences Tools & Services | 109 | 1.6% | -27.6% | -71.6% | SNWV 1688% · MEDP 208% · NTRA 176% |
| Health Care Technology | 19 | -24.6% | -51.7% | -78.5% | SPOK 71% · HSTM -1% · VEEV -10% |
| Biotechnology ← | 362 | 4.7% | -23.7% | -78.8% | BRTX 73900% · DNTH 1602% · CELZ 1486% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Crescent Biopharma Stock On Fire: Up 86% With 7-Day Winning Streak | 04/03/2026 | |
| Crescent Biopharma Stock Rockets 85% With 6-Day Winning Streak | 04/02/2026 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 89.39 |
| Mkt Cap | 123.6 |
| Rev LTM | 22,995 |
| Op Inc LTM | 5,579 |
| FCF LTM | 7,280 |
| FCF 3Y Avg | 9,411 |
| CFO LTM | 9,041 |
| CFO 3Y Avg | 10,296 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 7.6% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 2.1% |
| Op Inc Chg 3Y Avg | -0.8% |
| Op Mgn LTM | 26.7% |
| Op Mgn 3Y Avg | 25.3% |
| QoQ Delta Op Mgn LTM | -1.6% |
| CFO/Rev LTM | 30.0% |
| CFO/Rev 3Y Avg | 29.9% |
| FCF/Rev LTM | 23.0% |
| FCF/Rev 3Y Avg | 23.3% |
Price Behavior
Price Behavior
| Market Price | $20.88 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 01/10/2014 | |
| Distance from 52W High | -22.6% | |
| 50 Days | 200 Days | |
| DMA Price | $16.65 | $13.42 |
| DMA Trend | up | down |
| Distance from DMA | 25.4% | 55.6% |
| 3M | 1YR | |
| Volatility | 71.2% | 79.2% |
| Downside Capture | 138.48 | 38.43 |
| Upside Capture | 200.56 | 74.67 |
| Correlation (SPY) | 29.6% | 13.5% |
CBIO Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.13 | 3.07 | 1.33 | 1.04 | 0.83 | 0.46 |
| Up Beta | 2.76 | 2.48 | 2.67 | 2.95 | 2.65 | -0.37 |
| Down Beta | 9.91 | 3.64 | 0.97 | -1.59 | -0.15 | 0.41 |
| Up Capture | 497% | 306% | 42% | 149% | 49% | 7% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 12 | 21 | 28 | 60 | 116 | 136 |
| Down Capture | 370% | 330% | 150% | 93% | 63% | 54% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 21 | 35 | 66 | 131 | 160 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CBIO | |
|---|---|---|---|---|
| CBIO | 52.8% | 79.5% | 0.87 | - |
| Sector ETF (XLV) | 26.5% | 16.0% | 1.28 | 18.2% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 13.2% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 9.9% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -8.5% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 7.6% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 11.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CBIO | |
|---|---|---|---|---|
| CBIO | 6.1% | 81.5% | 0.65 | - |
| Sector ETF (XLV) | 6.6% | 15.1% | 0.25 | 21.3% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 14.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 8.3% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | -9.3% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 4.6% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CBIO | |
|---|---|---|---|---|
| CBIO | 3.0% | 81.5% | 0.65 | - |
| Sector ETF (XLV) | 10.8% | 16.7% | 0.53 | 21.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 14.4% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 8.3% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | -9.3% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 4.6% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 10.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 1.7% | 6.8% | 20.2% |
| 4/29/2026 | 6.8% | -13.8% | -1.4% |
| 2/26/2026 | -1.2% | -8.0% | 8.1% |
| 11/6/2025 | 5.4% | 5.0% | 6.0% |
| 7/31/2025 | -1.4% | -12.7% | 12.3% |
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 4 |
| # Negative | 2 | 3 | 1 |
| Median Positive | 5.4% | 5.9% | 10.2% |
| Median Negative | -1.3% | -12.7% | -1.4% |
| Max Positive | 6.8% | 6.8% | 20.2% |
| Max Negative | -1.4% | -13.8% | -1.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | 1.7% | 6.8% | 20.2% |
| 4/29/2026 | 6.8% | -13.8% | -1.4% |
| 2/26/2026 | -1.2% | -8.0% | 8.1% |
| 11/6/2025 | 5.4% | 5.0% | 6.0% |
| 7/31/2025 | -1.4% | -12.7% | 12.3% |
| SUMMARY STATS | |||
| # Positive | 3 | 2 | 4 |
| # Negative | 2 | 3 | 1 |
| Median Positive | 5.4% | 5.9% | 10.2% |
| Median Negative | -1.3% | -12.7% | -1.4% |
| Max Positive | 6.8% | 6.8% | 20.2% |
| Max Negative | -1.4% | -13.8% | -1.4% |
Recent Forward Guidance
Updated 7/31/2026Latest: Q2 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2028 Cash Runway | Reported | Affirmed | Guidance: 0 for 2028 | |||||
Prior: Q1 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2028 Cash Runway | Reported | 2,028 | Affirmed | Guidance: 2,028 for 2028 | ||||
Insider Activity
Updated 7/20/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fairmount, Funds Management Llc | Fairmount Healthcare Fund II L.P. | Buy | 7202026 | 14.50 | 853,450 | 12,375,025 | 52,219,082 | Form | |
| 2 | Lynch, Ryan | See Remarks | Direct | Sell | 6232026 | 17.99 | 465 | 8,365 | 249,539 | Form |
| 3 | Pinkas, Jan | Chief Scientific Officer | Direct | Sell | 6232026 | 17.99 | 1,288 | 23,171 | 400,080 | Form |
| 4 | Scalzo, Richard William | Chief Financial Officer | Direct | Sell | 6232026 | 17.99 | 1,112 | 20,005 | 365,161 | Form |
| 5 | Bispham, Barbara Harlin | See Remarks | Direct | Sell | 6232026 | 17.99 | 1,218 | 21,912 | 347,747 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Fairmount, Funds Management Llc | Fairmount Healthcare Fund II L.P. | Buy | 7202026 | 14.50 | 853,450 | 12,375,025 | 52,219,082 | Form | |
| 2 | Lynch, Ryan | See Remarks | Direct | Sell | 6232026 | 17.99 | 465 | 8,365 | 249,539 | Form |
| 3 | Pinkas, Jan | Chief Scientific Officer | Direct | Sell | 6232026 | 17.99 | 1,288 | 23,171 | 400,080 | Form |
| 4 | Scalzo, Richard William | Chief Financial Officer | Direct | Sell | 6232026 | 17.99 | 1,112 | 20,005 | 365,161 | Form |
| 5 | Bispham, Barbara Harlin | See Remarks | Direct | Sell | 6232026 | 17.99 | 1,218 | 21,912 | 347,747 | Form |
| 6 | Im, Ellie Eunkyung | Chief Medical Officer | Direct | Sell | 6232026 | 17.99 | 1,219 | 21,930 | 397,021 | Form |
| 7 | McNeill, Jonathan | President and COO | Direct | Sell | 6232026 | 17.99 | 20,549 | 369,677 | 2,503,452 | Form |
| 8 | Brumm, Joshua T | Chief Executive Officer | Direct | Sell | 6232026 | 17.99 | 42,305 | 761,067 | 5,059,004 | Form |
| 9 | Fairmount, Funds Management Llc | Fairmount Healthcare Fund II L.P. | Buy | 12082025 | 13.41 | 1,360,000 | 18,237,600 | 36,848,883 | Form |
Investor Activity (13F)
Updated Sep 8, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 9/7/2026