--- title: "Crescent Biopharma | 8-K: FY2026 Q1 Revenue: USD 22.52 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285657766.md" datetime: "2026-05-08T03:25:21.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285657766.md) - [en](https://longbridge.com/en/news/285657766.md) - [zh-HK](https://longbridge.com/zh-HK/news/285657766.md) --- # Crescent Biopharma | 8-K: FY2026 Q1 Revenue: USD 22.52 M Revenue: As of FY2026 Q1, the actual value is USD 22.52 M. EPS: As of FY2026 Q1, the actual value is USD -0.1. #### Revenues Crescent Biopharma, Inc. reported revenues of $22,519 thousand for the three months ended March 31, 2026, an increase of $0.4 million or 2% compared to $22,058 thousand for the same period in 2025. This increase was primarily driven by a $0.5 million rise in Contiva™ sales and a $0.7 million increase in Etorel™ sales, partially offset by a $0.7 million decrease in ETUARY™ sales and a $0.1 million decrease in other product sales. - **ETUARY™ Sales**: $21.0 million for Q1 2026, down from $21.7 million for Q1 2025, representing an approximate 3% decline year-over-year. - **Etorel™ Sales**: $0.7 million for Q1 2026, as the product was launched in June 2025. - **Contiva™ Sales**: $0.8 million for Q1 2026, up from $0.3 million for Q1 2025, as the product was launched in March 2025. #### Cost of Revenues Cost of revenues increased by $0.3 million, or 37%, to $1,227 thousand for Q1 2026, from $894 thousand for Q1 2025. This was mainly due to a $0.3 million rise in early production costs for Etorel™ and a $0.2 million increase in stock-based compensation expense, partially offset by a $0.2 million decrease in ETUARY™ cost of sales. #### Gross Profit and Margin Gross profit for Q1 2026 was $21,292 thousand, resulting in a gross margin of approximately 94.55%. For Q1 2025, gross profit was $21,164 thousand, with a gross margin of approximately 95.95%. #### Operating Expenses Total operating expenses increased to $31,874 thousand in Q1 2026 from $19,785 thousand in Q1 2025. - **Selling and Marketing Expense**: Increased by $3.3 million, or 30%, to $14,136 thousand in Q1 2026 from $10,841 thousand in Q1 2025. This was primarily driven by a $2.9 million increase in promotion expenses for Etorel™ and Contiva™, early-stage preparation activities for F351 commercial launch, and a $1.0 million increase in stock-based compensation expense. - **Research and Development Expense**: Increased by $3.6 million, or 118%, to $6,738 thousand in Q1 2026 from $3,095 thousand in Q1 2025. This was mainly due to a $2.0 million increase in clinical research expenses for F351 in the PRC and a $1.1 million increase for Crescent Biopharma, Inc.’s pre-clinical activities for future IND filings in the United States. - **General and Administrative Expense**: Increased by $2.3 million, or 46%, to $7,220 thousand in Q1 2026 from $4,955 thousand in Q1 2025. This was primarily due to a $0.8 million increase in stock-based compensation costs, a $0.9 million increase in staff costs, and a $0.6 million increase in miscellaneous expenses. - **Transaction Costs**: $2,553 thousand were incurred in Q1 2026 related to the acquisition of Cullgen. No such costs were incurred in Q1 2025. #### Operating Profit / (Loss) Crescent Biopharma, Inc. reported an operating loss of -$9,355 thousand for Q1 2026, compared to an operating income of $2,273 thousand for Q1 2025. This $11.7 million decrease was mainly due to a $12.1 million increase in total operating expenses, partially offset by a $0.4 million increase in revenue. #### Net Income / (Loss) Net loss for Q1 2026 was -$9,858 thousand, compared to a net income of $3,734 thousand for Q1 2025. The $13.6 million decrease was primarily driven by a $12.1 million increase in operating expenses and a $2.2 million decrease in other income, partially offset by a $0.3 million decrease in income tax expense and a $0.4 million increase in revenue. #### Non-GAAP Adjusted Net Income / (Loss) Non-GAAP adjusted net loss was -$4,174 thousand for Q1 2026, compared to a non-GAAP adjusted net income of $2,887 thousand for Q1 2025. #### Cash Position As of March 31, 2026, Crescent Biopharma, Inc. held $37,501 thousand in cash and cash equivalents, $12,307 thousand in short-term bank deposits, and $29,419 thousand in long-term certificates of deposit, totaling $79,227 thousand. This represents a $3.3 million, or 4%, increase compared to $75,941 thousand as of December 31, 2025, primarily driven by higher customer collections and reduced tax payments. #### Outlook / Guidance Crescent Biopharma, Inc. affirmed its full-year 2026 revenue guidance to be between $100.5 million and $111.0 million. The company expects additional non-recurring transaction costs related to the Cullgen acquisition to be incurred after the first quarter of 2026. Furthermore, Crescent Biopharma, Inc. plans to file an Investigational New Drug (IND) application in the U.S. for F351 by the end of 2026 and initiate a Phase 2 clinical trial if the IND becomes effective. ### Related Stocks - [CBIO.US](https://longbridge.com/en/quote/CBIO.US.md) ## Related News & Research - [Crescita Reports First Quarter 2026 Results | CRRTF Stock News](https://longbridge.com/en/news/285933254.md) - [Abaxx to Launch Silver Singapore Futures on May 22, 2026 | ABXXF Stock News](https://longbridge.com/en/news/286762247.md) - [XP Inc. 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