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Cellectar Cuts Q2 Losses and Expenses
Cellectar Cuts Q2 Losses and Expenses

Globe and Mail

time5 days ago

  • Business
  • Globe and Mail

Cellectar Cuts Q2 Losses and Expenses

Key Points Net loss per share (GAAP) was $(3.39) for Q2 2025, beating analyst estimates of $(3.72) (GAAP) and improving from a GAAP diluted net loss per share of $(5.43) in Q2 2024. Research and development expenses dropped 67.1% compared to Q2 2024. This decrease was primarily driven by lower clinical project and manufacturing costs following the completion of patient enrollment in the CLOVER WaM Phase 2b clinical trial. These 10 stocks could mint the next wave of millionaires › Cellectar Biosciences (NASDAQ:CLRB), a biotechnology company specializing in targeted cancer therapies, delivered its latest earnings results for the second quarter of fiscal 2025 on August 14, 2025. The most significant takeaway was a substantial reduction in operating expenses, particularly in research and development, as the company prepared for its next regulatory milestones. Net loss per share (GAAP) was $(3.39), narrowing from analyst expectations of $(3.72) (GAAP) As anticipated for a pre-commercial biotech, Cellectar did not report any revenue. Overall, the company demonstrated notable cost controls but remains highly dependent on securing additional funding for its advancing clinical pipeline in the coming months. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change Net Loss per Share – Diluted (GAAP) $(3.39) $(3.72) $(5.43) 37.6% decrease Revenue (GAAP) $0 $0 $0 — Research and Development Expenses $2.4 million $7.3 million (67.2%) General and Administrative Expenses $3.6 million $6.4 million (43.8%) Cash and Cash Equivalents (end of period) $11.0 million N/A N/A Source: Analyst estimates for the quarter provided by FactSet. Business Overview and Strategic Focus Cellectar develops targeted radiopharmaceuticals for cancer therapy. Its key innovation is the phospholipid ether drug conjugate (PDC) platform, designed to selectively deliver radioactive and therapeutic payloads into cancer cells. This approach aims to improve treatment effectiveness while reducing harm to healthy cells. Recently, Cellectar has concentrated on advancing its lead candidate, iopofosine I 131, a beta-emitting radioconjugate in development for difficult-to-treat blood cancers. The company's main focus now is steering its programs through late-stage clinical trials and regulatory processes, while keeping a close watch on cost control. Success depends on securing funding for ongoing trials and gaining regulatory approvals, which could unlock both market potential and future revenue. Quarter in Review: Financial and Operational Developments The quarter saw Cellectar exercise strong financial discipline, with research and development (R&D) costs dropping to $2.4 million, down 67.1% from the comparable period a year ago. This reduction follows the completion of patient enrollment in its CLOVER WaM Phase 2b trial, which reduced trial-related and manufacturing expenses. General and administrative expenses were approximately $3.6 million, compared to approximately $6.4 million for the same period in 2024, reflecting reduced commercialization activities and lower personnel costs. No revenue was recorded for the period, as Cellectar remains in the pre-commercial stage. The company's net loss per share (GAAP) improved significantly, coming in at $(3.39) versus $(5.43) in Q2 2024. This narrowed loss reflects both lower expenses and non-cash impacts such as warrant valuations, which influenced prior year figures. Cellectar closed with $11.0 million in cash and cash equivalents. The current cash runway is projected to be sufficient through Q2 2026, though management has clearly flagged the need for further financing soon. On the development front, the lead iopofosine I 131 program achieved notable regulatory progress. The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation for iopofosine in relapsed or refractory Waldenstrom macroglobulinemia, a type of blood cancer. This designation can speed up the drug's review process. Cellectar also announced plans to prepare a New Drug Application (NDA) submission under the FDA's accelerated approval pathway, provided it can secure sufficient funding and that a confirmatory trial gets underway. The confirmatory pivotal trial is designed as a comparator, randomized controlled study involving about 100 patients per arm, but its start date is funding-dependent. Internationally, the company is in talks with the European Medicines Agency (EMA) regarding conditional marketing approval for iopofosine in Europe, with a decision on whether to submit expected in late Q3 or early Q4 2025. In addition, Cellectar advanced its early pipeline by submitting protocols for CLR 125, an iodine-125 Auger-emitting drug candidate targeting solid tumors such as triple-negative breast cancer, with plans to begin trials in late 2025 or early 2026, pending funding. The company also secured long-term isotope supply agreements with Nusano, solidifying access to critical radioactive materials. No one-time events such as asset sales, impairments, or gains impacted the period's numbers. No dividends were declared or changed during the quarter. Cellectar does not currently pay a dividend. The entire period was defined by careful expense management and a shift in focus toward securing the next stages of its pipeline programs. Look Ahead: Funding Needs and Milestone Watch Cellectar's management did not provide formal forward guidance for revenues or profits, consistent with its status as a pre-commercial company. Instead, leadership stated that advancing late-stage development—especially the start of the pivotal Phase 3 study for iopofosine I 131—will depend on obtaining additional capital or a strategic partnership. The July capital raise helped extend the operating runway, but the company stressed that more financing is needed to execute on planned clinical and regulatory activities. In the coming quarters, the most important areas for investors to monitor are funding progress, regulatory milestones, and updates on partnership discussions. Cellectar expects a decision soon on whether to pursue EMA submission and will present new data for its lead candidates at upcoming scientific meetings. Progress on early-stage assets such as CLR 125 will also depend on resources. For now, resource management and deal-making will play a decisive role in shaping the company's prospects. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,069%* — a market-crushing outperformance compared to 184% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of August 13, 2025

Immunome Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Immunome Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Globe and Mail

time01-08-2025

  • Business
  • Globe and Mail

Immunome Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Immunome, Inc. (the 'Company') (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, announced today that on Aug. 1, 2025, the Compensation Committee of the Company's Board of Directors (the 'Compensation Committee') granted inducement awards consisting of non-statutory stock options to purchase an aggregate of 39,000 shares of common stock to 5 new employees under the Company's 2024 Inducement Plan. The Compensation Committee approved the stock options as an inducement material to such employees' employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each stock option has an exercise price per share equal to $10.59 per share, the Company's closing sales price on Aug. 1, 2025, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees' continued service relationship with the Company through the applicable vesting dates. The stock options are subject to the terms and conditions of the Company's 2024 Inducement Plan and the terms and conditions of an applicable stock option agreement covering the grant. About Immunome, Inc. Immunome is a clinical-stage targeted oncology company committed to developing first-in-class and best-in-class targeted therapies designed to improve outcomes for cancer patients. We are advancing an innovative portfolio of therapeutics, drawing on leadership that previously played key roles in the design, development, and commercialization of cutting-edge targeted cancer therapies, including antibody-drug conjugate therapies (ADCs). Our most advanced pipeline programs are varegacestat (formerly AL102), a gamma secretase inhibitor which is currently in a Phase 3 trial for treatment of desmoid tumors; IM-1021, a ROR1-targeted ADC which is currently in a Phase 1 trial; and IM-3050, a FAP-targeted radioligand, which recently received IND clearance. Our pipeline also includes IM-1617, IM-1335, and IM-1340, all of which are preclinical ADCs pursuing undisclosed targets with expression in multiple solid tumors. For more information, visit

Defence's Accum Technology with ADC and Radiopharmaceutical Programs Target Cancer
Defence's Accum Technology with ADC and Radiopharmaceutical Programs Target Cancer

Yahoo

time14-07-2025

  • Business
  • Yahoo

Defence's Accum Technology with ADC and Radiopharmaceutical Programs Target Cancer

Montreal, Quebec--(Newsfile Corp. - July 14, 2025) - Defence Therapeutics Inc. (CSE: DTC) (OTCQB: DTCFF) (FSE: DTC) ("Defence" or the "Company"), a leading biotechnology company specializing in drug delivery technologies, is pleased to announce that its highly impactful programs on ADC and Radiopharma programs, which includes collaborations and preclinical studies on cancer therapies with Accum® are ongoing. Defence's Accum®-based ADCs have demonstrated enhanced intracellular delivery and cytotoxic activity in multiple preclinical cancer models compared to conventional ADCs. Defence continues to advance studies that validate additional Accum®-based ADCs, including optimization to increase the value and to attract Pharmaceuticals and Biotech companies for potential licensing deals and co-development opportunities. In addition, collaborations and preclinical studies with ADCs companies are ongoing to validate and confirm the significant efficacy improvement when Defence's Accum® technology is added to their respective ADC. Defence's Radiopharma focused program continues to enhance the optimization of Accum® radiolabelling with studies performed by the Canadian Nuclear Laboratories ("CNL") under notably the CNRI-H program that Defence was granted. The complete study is being performed, including biodistribution, pharmacokinetic profile and therapeutic potency, using radiolabelled Accum® with selected antibodies. Defence's scientific team is confident that the addition of the Accum® technology being applied in the radiopharmaceuticals industry may be transformative. The global antibody drug conjugate (ADC) market size is projected to grow from USD 13.51 billion in 2025 to USD 29.9 billion by 2034, at a compound annual growth rate (CAGR) of 9.23% from 2024 to 2034. The global radiopharmaceutical market is projected to reach $16.87-billion (U.S.) by 2033, growing at a CAGR of 9.9% during the forecast period (2025-2033). Defence's Accum® technology optimization is also currently ongoing, with more detail to be released upon completion of all the studies related. The Company will announce key results when they become available and completed as well as details on partnerships when and if deals and licensing occurred. Defence continues to work on studies in Canada, mainly at Defence's laboratory located in Montreal, Canada and in parallel the Company continues pursuing its plan to expand its presence to the US. About Defence: Defence Therapeutics is a publicly-traded clinical-stage biotechnology company developing and engineering the next generation of ADC products using its proprietary platform. The core of Defence Therapeutics platform is the ACCUM® technology, which enables precision delivery of ADCs in their intact form to target cells. As a result, increased efficacy and potency can be reached against cancer. For further information:Sebastien Plouffe, Founder, President, CEO and DirectorP: (514) 947-2272Splouffe@ Cautionary Statement Regarding "Forward-Looking" Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Neither the CSE nor its market regulator, as that term is defined in the policies of the CSE, accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit Sign in to access your portfolio

Rakovina Therapeutics Highlights Strength of Scientific Advisory Board Driving Innovation in AI-Enabled Oncology Drug Development
Rakovina Therapeutics Highlights Strength of Scientific Advisory Board Driving Innovation in AI-Enabled Oncology Drug Development

Yahoo

time10-07-2025

  • Business
  • Yahoo

Rakovina Therapeutics Highlights Strength of Scientific Advisory Board Driving Innovation in AI-Enabled Oncology Drug Development

VANCOUVER, British Columbia, July 10, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. ('Rakovina' or the 'Company') (TSX-V: RKV) (FSE: 7JO0), a biopharmaceutical company advancing next-generation cancer therapies through artificial intelligence (AI)-powered drug discovery, is pleased to highlight the strength and scientific leadership of its established Scientific Advisory Board (SAB). Rakovina's SAB is composed of internationally recognized experts in oncology, AI-driven drug development, and precision medicine. The board plays a vital role in shaping the company's research strategy, pipeline advancement, and translational development initiatives. Rakovina's Scientific Advisory Board: Dr. Dennis Brown, SAB Chair, has been involved in cancer drug discovery and development for more than 35 years. Initially with the Stanford Research Institute at Stanford University where he was involved in drug-screening activities sponsored by the US National Cancer Institute. He has been co-founder of Matrix Pharmaceuticals (Chiron), ChemGenex (Cephalon/Teva), and Kintara (NASDAQ: KTRA); inventor on 40+ patents; former faculty at Harvard and currently President of Valent Technologies and chair of Mountain View Pharmaceuticals' Board. Dr. Artem Cherkasov is the Canada Research Chair in Precision Cancer Drug Design, a Professor of Urologic Sciences at the University of British Columbia, and a Senior Scientist at the Vancouver Prostate Centre. He is a pioneer of the Deep Docking™ AI platform, which accelerates the screening of billions of compounds against DNA-damage response (DDR) targets. This groundbreaking technology led to a $142 million licensing deal with Roche—the largest in UBC's history—and directly supports Rakovina's AI-driven discovery programs. Dr. Petra Hamerlik is the Chair of Translational Neuro-Oncology at the University of Manchester. She previously served as Principal Scientist and CNS Cancer Bioscience Lead at AstraZeneca, where she advanced the development of brain-penetrant DNA-damage response inhibitors for the treatment of primary and metastatic brain tumors. Dr. Leonard Post brings over 35 years of experience in pharmaceutical R&D leadership. He previously served as Chief Scientific Officer at both BioMarin and LEAD Therapeutics, where he was instrumental in the development of PARP inhibitor, talazoparib, now commercialized by Pfizer. Dr. Post also held senior roles at Onyx Pharmaceuticals and Parke-Davis, and he currently serves as Chief Scientific Officer of Vivace Pharmaceuticals. Dr. Neil Sankar is a clinical development expert with leadership experience at companies including Genentech, MedImmune, and Pharmacyclics. He played an instrumental role in the FDA filings for Kadcyla and Ibrutinib. Dr. Sankar trained at the National Cancer Institute in Bethesda and holds an MD from Bangalore University. Dr. Wang Shen is the inventor of Rakovina's KT‑2000 and KT‑3000 candidate series, and the founder and CEO of Viva Vision Biotech. He is the principal inventor of the FDA‑approved drug Lifitegrast and a key contributor to the development of Venetoclax. Dr. Shen is also a co-author of more than 40 scientific publications and patents. 'By convening this powerhouse advisory board, we're aligning world-class scientific leadership with our AI-driven strategy,' said Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. 'Their collective track record in discovering, developing, and commercializing transformative cancer therapies is instrumental in advancing our DDR pipeline toward key preclinical and clinical milestones.' How the SAB Accelerates Rakovina's Corporate Strategy Rapid AI-to-Lab Validation Harnessing Dr. Cherkasov's Deep Docking™ platform with UBC wet-lab integration to validate hits in months, not years. Translational Expertise Leveraging Dr. Hamerlik's CNS oncology insights to optimize brain-penetrant DDR inhibitors. Clinical Development Leadership Dr. Sankar's regulatory and trial design acumen ensures efficient progression into IND-enabling studies. Commercialization Pathways Guided by Drs. Brown and Post's extensive licensing and deal-making histories to structure high-value partnerships. Global R&D Networks Tapping the board's academic and industry connections to accelerate collaborations and expand intellectual property. With this advisory team in place, Rakovina is poised to: Showcase AI-Designed DDR Molecules at Leading Industry Conferences in H2 2025 Present in vitro and in vivo validation data for next-generation PARP1-selective and ATR inhibitors Optimize Current Pipeline (July–October 2025) – Optimize lead candidates from the kt-2000 and kt-5000 series with enhanced potency, selectivity, and brain penetration. Demonstrate Interim ATR Compound Efficacy ( Q3 2025) – Share early pharmacology and pharmacokinetic data on ATR inhibitors. Establish a development collaboration for kt-3283 – (Q3 2025) Join forces with leading companies to develop advanced formulations suitable for clinical development. Continue Partnering Discussions for Novel AI-derived kt-3000 & kt-2000 Series Drug Candidates (Q4 2025–Q1 2026) – Leverage AI-driven preclinical data and strategic SAB endorsements to secure co-development and licensing partnerships. Rakovina continues to advance its novel pipeline of AI‑enhanced design and dual‑mechanism targeting to treat DDR‑driven cancers with high unmet needs. About Rakovina Therapeutics Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using the proprietary Deep-Docking™ and Enki™ platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before. The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners. Further information may be found at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Notice Regarding Rakovina Therapeutics Forward-Looking Statements: This release includes forward-looking statements regarding the company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans,' 'is expected,' 'expects,' 'scheduled,' 'intends,' 'contemplates,' 'anticipates,' 'believes,' 'proposes' or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results 'may,' 'could,' 'would,' 'might,' or 'will' be taken, occur, or be achieved. Such statements are based on the current expectations of the management of the company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the medical device industry, economic factors, regulatory factors, the equity markets generally, and risks associated with growth and competition. Although the company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the company's most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the company's profile page at For Further Information Contact: Michelle Seltenrich, BSc MBA Director, Corporate Development IR@ 778-773-5432Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Crescent Biopharma Appoints Jan Pinkas, Ph.D., as Chief Scientific Officer
Crescent Biopharma Appoints Jan Pinkas, Ph.D., as Chief Scientific Officer

Yahoo

time08-07-2025

  • Business
  • Yahoo

Crescent Biopharma Appoints Jan Pinkas, Ph.D., as Chief Scientific Officer

Seasoned Leader Brings Deep Experience in Oncology Drug Development as Company Advances Portfolio of Next Generation Therapeutics for Solid Tumors WALTHAM, Mass., July 08, 2025 (GLOBE NEWSWIRE) -- Crescent Biopharma, Inc. ('Crescent' or the 'Company') (Nasdaq: CBIO), a biotechnology company dedicated to rapidly advancing the next wave of therapies for cancer patients, today announced the appointment of Jan Pinkas, Ph.D., as chief scientific officer. Dr. Pinkas brings more than two decades of experience in oncology drug development, leading preclinical and translational research with expertise in multiple modalities, including antibody-drug conjugates (ADCs). 'We are thrilled to welcome Jan to Crescent's leadership team. His depth of experience developing oncology therapeutics will be instrumental in driving innovation across our portfolio to bring better treatments to patients with solid tumors,' said Joshua Brumm, chief executive officer of Crescent. 'Jan joins us at an important time as we progress our first two programs towards the clinic. In early 2026, we expect to be dosing patients in a global Phase 1 trial of CR-001, our PD-1 x VEGF bispecific antibody, and anticipate an IND submission in the middle of next year for one of our novel ADCs, CR-002. The addition of Jan underscores Crescent's commitment to become a leader in delivering the next wave of cancer therapies.' 'Our pipeline is designed to leverage the shift to cooperative PD-1 x VEGF and next generation ADCs, including opportunities as monotherapies and synergistic combinations of these programs. Crescent is positioned at the forefront of therapeutic advancements for oncology, and I'm excited to work with this talented team to rapidly develop therapies that have the potential to be life-changing for people with cancer,' said Dr. Pinkas. Prior to joining Crescent, Dr. Pinkas was chief scientific officer at Pyxis Oncology, where he established the preclinical research and development function to support ADC and antibody programs through Investigational New Drug (IND)-enabling studies and led the translational medicine group. Previously, at Magenta Therapeutics, Dr. Pinkas served as senior vice president, translational sciences, establishing a new department to support programs as the company advanced from preclinical research to late-stage clinical development. Prior to Magenta, Dr. Pinkas worked at ImmunoGen for more than 10 years in positions of increasing responsibility, most recently as vice president, translational research and development. In that role, he led groups supporting molecules from early-stage research to IND, and also advancing to pivotal clinical development, including contributing to ELAHERE®, an ADC approved for the treatment of platinum-resistant ovarian cancer, as well as SARCLISA®, an anti-CD38 therapy approved in combination with standard of care for multiple myeloma. Earlier in his career, he held scientist roles focused on oncology research at Amgen and Genzyme Corporation. Dr. Pinkas earned his Ph.D. in molecular and cellular biology at the University of Massachusetts, Amherst and received his B.A. in biology from Johns Hopkins Crescent Biopharma Crescent Biopharma's vision is to build a world leading oncology company bringing the next wave of therapies for cancer patients. The Company's pipeline includes its lead program, a PD-1 x VEGF bispecific antibody, as well as novel antibody-drug conjugates. By leveraging multiple modalities and established targets, Crescent aims to rapidly advance potentially transformative therapies either as single agents or as part of combination regimens to treat a range of solid tumors. For more information, visit and follow the Company on LinkedIn and Statements Certain statements in this press release, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements relating to Crescent's expectations, hopes, beliefs, intentions or strategies regarding the future of its pipeline and business including, without limitation: Crescent's business strategy; Crescent's ability to achieve the expected benefits or opportunities with respect to CR-001, CR-002 and CR-003, both as monotherapies and synergistic combinations; the expected timelines of regulatory filings for CR-001 and CR-002; the expected commencement of clinical trials for CR-001; the potential for Crescent to become a leader in delivering the next wave of therapies for cancer patients; and Crescent's business plans and the anticipated benefits of management changes. The words "opportunity," "potential," "milestones," "pipeline," "can," "goal," "strategy," "target," "anticipate," "achieve," "believe," "contemplate," "continue," "could," "estimate," "expect," "intends," "may," "plan," "possible," "project," "should," "will," "would" and similar expressions (including the negatives of these terms or variations of them) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Crescent will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Crescent's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to those uncertainties and factors more fully described in Crescent's most recent filings with the Securities and Exchange Commission (including its registration statement on Form S-4, most recently amended on May 12, 2025 and declared effective by the SEC on May 14, 2025), as well as risk factors associated with companies, such as Crescent, that operate in the biopharma industry. Should one or more of these risks or uncertainties materialize, or should any of Crescent's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Crescent does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Amy ReillyChief Communications while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

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