Crescent Biopharma Announces Pricing of Public Offering of Ordinary Shares and Pre-Funded Warrants

WALTHAM, Mass., July 14, 2026 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. (“Crescent” or the “Company”) (Nasdaq: CBIO), a clinical-stage biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced the pricing of its underwritten public offering of 8,094,793 ordinary shares and in lieu of ordinary shares to certain investors, pre-funded warrants to purchase up to 525,897 ordinary shares. The ordinary shares are being sold to the public at a price of $14.50 per share and the pre-funded warrants are being sold at a price to the public of $14.499 per pre-funded warrant, which represents the per ordinary share price less the $0.001 per share exercise price for each such pre-funded warrant. The gross proceeds to Crescent from the offering, before deducting the underwriting discounts and commissions and other offering expenses payable by Crescent, are expected to be approximately $125.0 million. In addition, Crescent has granted the underwriters a 30-day option to purchase up to an additional 1,293,103 ordinary shares at the offering price, less underwriting discounts and commissions. All of the ordinary shares and the pre-funded warrants to be sold in the public offering are to be sold by Crescent. The offering is expected to close on July 16, 2026, subject to the satisfaction of customary closing conditions.