CRESCENT BIOPHARMA INC.

Ticker: CBIO CUSIP: G2545C104 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (20)

FCPM III SERVICES B.V.
Value ($000) $19,899 Shares 1,677,852
Opaleye Management Inc.
Value ($000) $13,975 Shares 1,178,300
HEIGHTS CAPITAL MANAGEMENT, INC
Value ($000) $3,131 Shares 264,000
Stonepine Capital Management, LLC
Value ($000) $1,040 Shares 87,682
Vestal Point Capital, LP
Value ($000) $17,790 Shares 1,500,000
ADAR1 Capital Management, LLC
Value ($000) $7,187 Shares 606,000
RTW INVESTMENTS, LP
Value ($000) $4,422 Shares 372,856
Burkehill Global Management, LP
Value ($000) $844 Shares 74,000
Alyeska Investment Group, L.P.
Value ($000) $3,109 Shares 264,000
Point72 Asset Management, L.P.
Value ($000) $3,558 Shares 300,000
Woodline Partners LP
Value ($000) $878 Shares 74,000
MOORE CAPITAL MANAGEMENT, LP
Value ($000) $297 Shares 25,000
BALYASNY ASSET MANAGEMENT L.P.
Value ($000) $1,325 Shares 111,715
MILLENNIUM MANAGEMENT LLC
Value ($000) $734 Shares 61,882
SUSQUEHANNA INTERNATIONAL GROUP, LLP
Value ($000) $677 Shares 57,048
TWO SIGMA ADVISERS, LP
Value ($000) $385 Shares 32,500
OMERS ADMINISTRATION Corp
Value ($000) $138 Shares 11,600
JANE STREET GROUP, LLC
Value ($000) $272 Shares 22,965
HRT FINANCIAL LP
Value ($000) $0 Shares 13,083
Avion Wealth
Value ($000) $0 Shares 40

Increased Positions (16)

Fairmount Funds Management LLC
Value ($000) $32,590 (+97.5%) Shares 2,747,866 (+98.0%)
BVF INC/IL
Value ($000) $32,600 (+97.6%) Shares 2,748,763 (+98.1%)
VR Adviser, LLC
Value ($000) $25,304 (+53.3%) Shares 2,133,576 (+53.7%)
TANG CAPITAL MANAGEMENT LLC
Value ($000) $10,347 (+28.0%) Shares 872,398 (+28.3%)
FMR LLC
Value ($000) $49,023 (+191.4%) Shares 4,133,514 (+192.2%)
TWO SIGMA INVESTMENTS, LP
Value ($000) $1,485 (+341.1%) Shares 125,224 (+342.2%)
WELLINGTON MANAGEMENT GROUP LLP
Value ($000) $1,627 (+673.1%) Shares 143,412 (+710.3%)
MORGAN STANLEY
Value ($000) $326 (+18832.7%) Shares 27,521 (+18880.0%)
RENAISSANCE TECHNOLOGIES LLC
Value ($000) $554 (+73.2%) Shares 46,700 (+73.6%)
JPMORGAN CHASE & CO
Value ($000) $277 (+136930.2%) Shares 23,339 (+137188.2%)
GEODE CAPITAL MANAGEMENT, LLC
Value ($000) $1,081 (+31.5%) Shares 91,079 (+31.7%)
STATE STREET CORP
Value ($000) $311 (+40.5%) Shares 26,217 (+40.8%)
BNP PARIBAS ARBITRAGE, SA
Value ($000) $43 (+88479.2%) Shares 3,585 (+89525.0%)
BANK OF AMERICA CORP /DE/
Value ($000) $66 (+43.9%) Shares 5,573 (+44.3%)
NORTHERN TRUST CORP
Value ($000) $204 (+2.2%) Shares 17,229 (+2.5%)
Tower Research Capital LLC (TRC)
Value ($000) $5 (+104.0%) Shares 409 (+104.5%)

Decreased Positions (8)

Jefferies Financial Group Inc.
Value ($000) $762 (-37.6%) Shares 64,244 (-37.5%)
VANGUARD GROUP INC
Value ($000) $6,612 (-15.5%) Shares 557,506 (-15.3%)
MARSHALL WACE, LLP
Value ($000) $259 (-50.2%) Shares 21,826 (-50.0%)
GOLDMAN SACHS GROUP INC
Value ($000) $299 (-31.9%) Shares 25,245 (-31.7%)
UBS Group AG
Value ($000) $85 (-43.9%) Shares 7,125 (-43.7%)
CITIGROUP INC
Value ($000) $7 (-22.1%) Shares 623 (-21.9%)
GROUP ONE TRADING, L.P.
Value ($000) $0 (-95.2%) Shares 4 (-95.1%)
PRICE T ROWE ASSOCIATES INC /MD/
Value ($000) $4 (-12.1%) Shares 338,125 (-11.9%)

Exited Positions (6)

Commodore Capital LP
Value ($000) $5,360 Shares 450,829
Soleus Capital Management, L.P.
Value ($000) $2,378 Shares 200,000
Frazier Life Sciences Management, L.P.
Value ($000) $3,245 Shares 272,951
Affinity Asset Advisors, LLC
Value ($000) $214 Shares 17,998
ADAGE CAPITAL PARTNERS GP, L.L.C.
Value ($000) $2,378 Shares 200,005
CITADEL ADVISORS LLC
Value ($000) $304 Shares 25,593