CRESCENT BIOPHARMA INC.

Ticker: CBIO CUSIP: G2545C104 Class: COM

VR Adviser, LLC's Holding History (CIK: 0001615982)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 2,133,576 Value ($000) $25,304 Avg Close $12.74 Range $9.81 - $16.35

Q3 2025

Shares 1,387,864 Value ($000) $16,502 Avg Close $13.27 Range $10.83 - $17.39

Q2 2025

Shares 1,387,864 Value ($000) $22,400 Avg Close $21.15 Range $11.06 - $29.00

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	2,133,576	$25,304	$12.74	$9.81 - $16.35
Q3 2025	1,387,864	$16,502	$13.27	$10.83 - $17.39
Q2 2025	1,387,864	$22,400	$21.15	$11.06 - $29.00