Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
CRESCENT BIOPHARMA, INC. (CBIO)
A forensic read on CRESCENT BIOPHARMA, INC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
4.6
Altman Z-score
Clean
Earnings quality
2
Forensic signals
-102.1%
ROE
$512M
Market cap
CRESCENT BIOPHARMA, INC. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 4.6, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+8.4%/yrShare-count dilution.Diluted share count changed +25% over the last 3 years to FY2024 (+8.4%/yr). The count is GROWING — existing holders are being diluted. That's ~8.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2021 has been diluted ~25%.
123% of revStock-based comp load.Stock-based compensation ran 123% of revenue in FY2025. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin-1419.6%
Free Cash Flow$-72.5M
Latest Revenue$10.8M
Return on Equity-75.8%
Revenue Growth YoY+108340.0%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on CRESCENT BIOPHARMA, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about CBIO's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown