GlycoMimetics(US:GLYC)2025-11-06 12:30Financial Performance - Crescent Biopharma reported a net loss of $24.6 million, or $1.27 per share, for Q3 2025[8]. - Cash position as of September 30, 2025, was $133.3 million, expected to fund operations through 2027[7]. - Total assets as of September 30, 2025, were $138.3 million, compared to $35.6 million at the end of 2024[15]. - Liabilities decreased to $21.6 million from $47.1 million at the end of 2024[15]. - Crescent's shareholders' equity improved to $116.6 million from a deficit of $11.5 million at the end of 2024[15]. Research and Development - Research and development expenses for Q3 2025 were $20.3 million, while general and administrative expenses were $5.5 million[7]. - The company plans to submit an IND application for CR-001 in Q4 2025 and expects to initiate a global Phase 1 trial in Q1 2026[5]. - CR-001 demonstrated potent anti-tumor activity in preclinical models and is designed to replicate the pharmacology of ivonescimab[5]. - Crescent anticipates submitting an IND for CR-002 in mid-2026, which is part of its ADC pipeline[6]. Strategic Focus - The company is focused on advancing next-generation therapeutics for solid tumors, aiming to deliver transformative therapies[2].