Crescent Biopharma reports Q2 2026 results, cites progress across PD-1 x VEGF and ADC pipeline

Crescent Biopharma reported second quarter 2026 financial results and business updates on July 30, 2026. The company said enrollment is advancing in ASCEND, a global, open-label Phase 1/2 trial testing CR-001 across multiple solid tumor types, including non-small cell lung cancer and various gastrointestinal and gynecological cancers, in both treatment-naive and previously treated patients.¹

In China, under its collaboration with Kelun-Biotech, Kelun-Biotech started a Phase 2 trial combining CR-001 (SKB118) with sacituzumab tirumotecan, a TROP2-directed ADC, an open-label, multi-center study enrolling about 206 patients with locally advanced or metastatic NSCLC.¹ The trial's primary outcomes are safety and objective response rate, with progression-free survival and overall survival as secondary outcomes.¹

For CR-002, a PD-L1-targeted ADC, Crescent said it plans to file an IND with the FDA around mid-2026, aiming to start a global Phase 1/2 solid tumor trial in the second half of 2026, with proof-of-concept data expected in the second half of 2027.¹ For CR-003, an ITGB6-targeted ADC being tested in China, the company said a Phase 1/2 trial is ongoing with proof-of-concept data expected in the first quarter of 2027, and a combination study pairing CR-003 with CR-001 is expected to begin in the first half of 2027, with initial data anticipated by year-end 2027.¹

On financing, Crescent said it closed a public offering of ordinary shares and pre-funded warrants in July 2026, raising $143.7 million in gross proceeds before fees.¹ As of June 30, 2026, cash and equivalents stood at $171.6 million,¹ and on a pro forma basis including the July offering, cash totaled $305.1 million.¹ The company said it expects existing cash to fund operations into the second half of 2028.¹