Crescent Biopharma, Inc.
CBIO Healthcare Biotechnology
Crescent Biopharma, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $10.8 million, up 108,340.0% from fiscal 2023. In the quarter to June 2026, revenue grew 1,038,900.0%, EPS grew 85.0% and free cash flow fell 7.04%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Crescent Biopharma, Inc. (CBIO) Altman Z-score
Crescent Biopharma, Inc.'s Altman Z-score for fiscal 2025 is −0.06, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.06 | 2.93 |
| FY2023 | −2.99 | (0.36) |
| FY2022 | −2.63 | 0.61 |
| FY2021 | −3.25 | (7.21) |
| FY2020 | 3.96 | (1.57) |
| FY2016 | 5.53 | (0.63) |
| FY2015 | 6.17 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.83 | — | 1.00 | |
| Retained earnings / total assets | (0.71) | — | −1.00 | |
| EBIT / total assets | (0.64) | — | −2.10 | |
| Market value of equity / total liabilities | 3.31 | — | 1.99 | |
| Sales / total assets | 0.05 | — | 0.05 | |
| Altman Z-score | Distress zone | −0.06 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.59 | ||
Z and Z″ put Crescent Biopharma, Inc. in different zones: distress zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| OCS Oculis Holding AG compare | 10.5× |
| NGNE Neurogene Inc. compare | 8.7× |
| ALT Altimmune, Inc. compare | 0.2× |
| CBIO Crescent Biopharma, Inc. | −0.1× |
| ARVN Arvinas, Inc. compare | −0.6× |
| RGNX REGENXBIO Inc. compare | −2.6× |
| AUTL Autolus Therapeutics PLC Sponsored ADR compare | −3.2× |
| ALLO Allogene Therapeutics, Inc. compare | −3.7× |
| YDES YD Bio Limited compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets