Crescent Biopharma, Inc. (CBIO) Balance Sheet
CBIO balance sheet, 2025
December 31, 2025 · U.S. dollars$240.3M assets = $37.3M liabilities + $203.0M equity
Both columns are drawn to the same scale: what CBIO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CBIO financial health
Descriptive bands, not a rating. Fiscal 2025.
CBIO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $42.4M2016 | $240.3M2025 | +21.3%/yr | |
| Total liabilities | $7.1M2016 | $37.3M2025 | +20.3%/yr | |
| Shareholders’ equity | $35.3M2016 | $203.0M2025 | +21.5%/yr | |
| Cash & short-term investments | $40.0M2016 | $213.2M2025 | +20.4%/yr | |
| Total debt | $3.6M2019 | $1.6M2025 | −12.3%/yr | |
| Net cash (debt) | $154.6M2019 | $211.5M2025 | +$57.0M | |
| Working capital | $34.2M2016 | $200.6M2025 | +$166.4M | |
| Current ratio | 6.402016 | 6.562025 | +0.16 | |
| Debt / equity | 0.022019 | 0.012025 | −0.02 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CBIO assets
CBIO liabilities and equity
CBIO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CBIO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $213.2M | $34.8M | $41.8M | $47.9M | $90.3M | $137.0M | $158.2M | $209.9M | $123.9M | $40.0M |
| Cash & equivalents | $213.2M | $34.8M | $41.8M | $47.9M | $90.3M | $137.0M | $158.2M | $209.9M | $123.9M | $40.0M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $10,649 |
| Receivables | $18.0M | $136,580 | $175,820 | $144,016 | $1,347 | $2,149 | $185,953 | $413,122 | $101,955 | $268,659 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$405 | $0 | $198,836 |
| Other current assets | $5.5M | $0 | $1.8M | $2.7M | $532,457 | $1.2M | $4.1M | $1.9M | $3.2M | $10,649 |
| Total current assets | $236.7M | $34.8M | $43.8M | $50.7M | $90.8M | $138.3M | $162.5M | $212.3M | $127.2M | $40.5M |
| Property, plant & equipment (net) | $2.3M | $0 | $767,828 | $751,174 | $1.9M | $2.9M | $3.8M | $957,226 | $1.1M | $1.1M |
| Goodwill & intangible assets | $4.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $813,000 | $757,913 | $344,710 | $1.6M | $1.6M | $1.6M | $1.6M | $256,684 | $811,524 |
| Total assets | $240.3M | $35.6M | $45.3M | $51.8M | $94.3M | $142.8M | $168.0M | $214.8M | $128.6M | $42.4M |
| Liabilities | ||||||||||
| Accounts payable | $10.0M | $107,000 | $868,115 | $970,191 | $2.1M | $2.1M | $1.4M | $2.7M | $2.6M | $1.6M |
| Short-term debt | $435,000 | $66,844 | $741,558 | $918,555 | $1.0M | $898,549 | $804,126 | — | — | — |
| Deferred revenue | $4.2M | — | — | — | — | — | — | — | — | $68,551 |
| Total current liabilities | $36.1M | $9.6M | $6.8M | $8.9M | $11.8M | $12.4M | $11.0M | $8.8M | $8.2M | $6.3M |
| Long-term debt | $0 | $37.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.6M | $0 | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $1.2M | $4.0M | $66,844 | $0 | $918,607 | $2.2M | $2.8M | $611,623 | $707,003 | $753,579 |
| Total liabilities | $37.3M | $51.1M | $6.9M | $8.9M | $12.7M | $14.6M | $13.8M | $9.4M | $8.9M | $7.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $28,000 | $1,000 | $64,394 | $54,378 | $52,314 | $49,018 | $43,465 | $43,159 | $34,358 | $23,249 |
| Retained earnings (deficit) | −$171.8M | −$17.9M | −$456.5M | −$419.6M | −$372.9M | −$309.5M | −$258.4M | −$200.6M | −$152.3M | −$119.0M |
| Total shareholders' equity | $203.0M | −$15.5M | $38.4M | $42.9M | $81.6M | $128.2M | $154.2M | $205.5M | $119.7M | $35.3M |
| Key figures | ||||||||||
| Total debt | $1.6M | $37.5M | $808,402 | $918,555 | $1.9M | $2.8M | $3.6M | — | — | — |
| Net cash (debt) | $211.5M | −$2.7M | $41.0M | $47.0M | $88.3M | $134.2M | $154.6M | — | — | — |
| Working capital | $200.6M | $25.2M | $37.0M | $41.8M | $79.0M | $125.8M | $151.6M | $203.5M | $119.0M | $34.2M |
| Tangible book value | $198.3M | −$15.5M | $38.4M | $42.9M | $81.6M | $128.2M | $154.2M | $205.5M | $119.7M | $35.3M |
| Book value per share | $19.49 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 10.4M | — | — | — | — | — | — | — | — | — |
| Current ratio | 6.56 | 3.62 | 6.41 | 5.71 | 7.68 | 11.13 | 14.84 | 24.22 | 15.56 | 6.40 |
| Quick ratio | 6.41 | 3.63 | 6.14 | 5.41 | 7.63 | 11.03 | 14.46 | 24.00 | 15.17 | 6.36 |
| Debt / equity | 0.01 | — | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | — | — | — |
| Equity / assets | 84.5% | −43.5% | 84.8% | 82.9% | 86.5% | 89.8% | 91.8% | 95.6% | 93.1% | 83.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $171.6M | $189.2M | $213.2M | $133.3M | $152.6M | $5.6M | $10.7M | $14.4M | $22.4M | $31.3M | $41.8M | $49.4M |
| Cash & equivalents | $171.6M | $189.2M | $213.2M | $133.3M | $152.6M | $5.6M | $10.7M | $14.4M | $22.4M | $31.3M | $41.8M | $49.4M |
| Receivables | $0 | $0 | $18.0M | $0 | $0 | $0 | $136,580 | $50,255 | $76,710 | $109,946 | $175,820 | $188,949 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $7.4M | $6.4M | $5.5M | $1.3M | $1.6M | $377,994 | $234,696 | $1.2M | $1.4M | $1.9M | $1.8M | $2.4M |
| Total current assets | $179.0M | $195.6M | $236.7M | $134.6M | $154.2M | $6.0M | $11.1M | $15.6M | $23.9M | $33.3M | $43.8M | $52.0M |
| Property, plant & equipment (net) | $2.1M | $2.3M | $2.3M | $2.3M | $1.8M | $0 | $0 | $0 | $424,209 | $598,257 | $767,828 | $1.1M |
| Goodwill & intangible assets | $0 | $4.6M | $0 | $4.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.6M | $0 | $1.3M | $0 | $1.4M | $0 | $0 | $52,320 | $137,105 | $339,263 | $757,913 | $102,320 |
| Total assets | $182.8M | $199.1M | $240.3M | $138.3M | $157.4M | $6.0M | $11.1M | $15.7M | $24.4M | $34.2M | $45.3M | $53.2M |
| Liabilities | ||||||||||||
| Accounts payable | $2.5M | $1.2M | $10.0M | $2.6M | $1.6M | $148,256 | $1.4M | $1.0M | $950,763 | $755,534 | $868,115 | $329,885 |
| Short-term debt | $471,000 | $453,000 | $435,000 | $417,000 | $211,000 | — | $66,844 | $262,133 | $448,775 | $630,827 | $741,558 | $749,618 |
| Deferred revenue | $3.1M | $3.1M | $4.2M | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $18.5M | $14.2M | $36.1M | $20.3M | $16.7M | $2.6M | $5.8M | $4.3M | $4.4M | $5.3M | $6.8M | $6.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.4M | $1.5M | $1.6M | $1.7M | $1.6M | — | — | — | — | — | — | — |
| Other long-term liabilities | $966,000 | $1.1M | $1.2M | $1.3M | $1.4M | $0 | $41.5M | $0 | $0 | $0 | $66,844 | $262,133 |
| Total liabilities | $19.5M | $15.3M | $37.3M | $21.6M | $18.2M | $2.6M | $5.8M | $4.3M | $4.4M | $5.3M | $6.9M | $6.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $28,000 | $28,000 | $28,000 | $14,000 | $14,000 | $64,532 | $64,484 | $64,484 | $64,484 | $64,451 | $64,394 | $64,369 |
| Retained earnings (deficit) | −$219.9M | −$195.1M | −$171.8M | −$79.4M | −$54.8M | −$496.7M | −$494.4M | −$487.1M | −$477.3M | −$467.2M | −$456.5M | −$447.4M |
| Total shareholders' equity | $163.3M | $183.8M | $203.0M | $116.6M | $139.3M | $3.4M | $5.3M | $11.4M | $20.1M | $28.9M | $38.4M | $46.5M |
| Key figures | ||||||||||||
| Total debt | $1.4M | $1.5M | $1.6M | $1.7M | $1.6M | — | $66,844 | $262,133 | $448,775 | $630,827 | $808,402 | $1.0M |
| Net cash (debt) | $170.2M | $187.6M | $211.5M | $131.5M | $151.0M | — | $10.7M | $14.1M | $21.9M | $30.7M | $41.0M | $48.4M |
| Working capital | $160.5M | $181.4M | $200.6M | $114.3M | $137.5M | $3.4M | $5.3M | $11.3M | $19.5M | $28.0M | $37.0M | $45.6M |
| Tangible book value | $163.3M | $179.2M | $203.0M | $111.8M | $139.3M | $3.4M | $5.3M | $11.4M | $20.1M | $28.9M | $38.4M | $46.5M |
| Book value per share | $5.35 | $6.05 | $10.06 | $7.05 | — | — | — | — | — | — | — | — |
| Shares outstanding | 30.5M | 30.4M | 20.2M | 16.5M | — | — | — | — | — | — | — | — |
| Current ratio | 9.66 | 13.78 | 6.56 | 6.63 | 9.21 | 2.29 | 1.92 | 3.62 | 5.48 | 6.28 | 6.41 | 8.14 |
| Quick ratio | 9.26 | 13.33 | 6.41 | 6.56 | 9.12 | 2.15 | 1.88 | 3.34 | 5.16 | 5.93 | 6.14 | 7.76 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | — | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Equity / assets | 89.3% | 92.3% | 84.5% | 84.4% | 88.5% | 56.3% | 47.9% | 72.5% | 82.2% | 84.5% | 84.8% | 87.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
CBIO financial position
At the end of fiscal 2025 (December 31, 2025), Crescent Biopharma had total assets of $240.3 million (up 574.7% from a year earlier), total liabilities of $37.3 million and shareholders' equity of $203.0 million. It held $213.2 million in cash and short-term investments against $1.6 million of debt, a net cash position of $211.5 million. Its current ratio was 6.56. In the latest quarter (ended June 30, 2026) total assets were $182.8 million and equity $163.3 million.
Related: CBIO income statement, CBIO cash flow statement, CBIO key metrics. See the CBIO stock overview for the latest quote and news.
CBIO balance sheet FAQ
What are Crescent Biopharma's total assets?
Crescent Biopharma reported total assets of $240.3 million at the end of fiscal 2025 (December 31, 2025), compared with $35.6 million a year earlier.
How much debt does Crescent Biopharma have?
Crescent Biopharma had $1.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Crescent Biopharma have?
Crescent Biopharma held $213.2 million in cash and short-term investments at the end of fiscal 2025; with $1.6 million of debt that is net cash of $211.5 million.
What is Crescent Biopharma's book value?
Crescent Biopharma's shareholders' equity (book value) was $203.0 million at the end of fiscal 2025, or $19.49 per share.
What is Crescent Biopharma's current ratio?
Crescent Biopharma had current assets of $236.7 million and current liabilities of $36.1 million, a current ratio of 6.56 (it can cover its short-term obligations).
How much goodwill does Crescent Biopharma have?
Crescent Biopharma carried $4.7 million of goodwill and intangible assets, 2.0% of total assets, at the end of fiscal 2025.