The Deal That Sent Crescent Biopharma Shares Surging Over 40% Pre-Market Today

Crescent Biopharma announced a strategic partnership with the Chinese firm Sichuan Kelun-Biotech Biopharmaceutical Co. to fast-track its global oncology pipeline.
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Crescent Biopharma Shares Are Up Over 40% Pre-Market On Deal With Kelun-Biotech
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Aashika Suresh·Stocktwits
Published Dec 04, 2025   |   7:32 AM EST
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Crescent Biopharma (CBIO) announced a strategic partnership with Sichuan Kelun-Biotech Biopharmaceutical Co. to expand its pipeline of oncology drugs and speed up its combination strategy. The company also announced a $185 million private placement, expected to close around December 8.

Shares of Crescent were up over 40% in pre-market trading.

The company said it has three distinct programs that will enter the clinic in 2026. In addition, the private financing will boost its cash runway.

“We’re excited to share the tremendous progress we’ve made executing on our strategy of building a robust portfolio of next generation oncology therapeutics," said Joshua Brumm, chief executive officer of Crescent.

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