Crescent Bio (CBIO) 10% Owner Fairmount Buys 1.38M Shares

What Happened

• Fairmount Funds Management LLC (reported as a 10% owner / investment manager) made purchases on July 16, 2026: 853,450 common shares at $14.50 each ($12,375,025) and 525,897 pre-funded warrants at $14.50 each ($7,624,981), for a combined cash outlay of $20,000,006. Both transactions are reported as purchases (code P).

Key Details

• Transaction date: 2026-07-16; Filing date: 2026-07-20 (filed within required reporting window).
• Prices: $14.50 per share / per pre-funded warrant.
• Total acquired: 1,379,347 securities; Total value: $20,000,006.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Fairmount is the investment manager for Fairmount Healthcare Fund II L.P.; managers (Peter Harwin and Tomas Kiselak) disclaim beneficial ownership except for their pecuniary interest.
  • F2: The 525,897 instruments are pre-funded warrants (derivative). They have no expiration, are exercisable any time, and contain an ownership cap preventing exercise if it would raise holdings above 9.99% of outstanding common stock.
• Remark: Filing notes Fairmount "may be deemed a director by deputization" because Peter Harwin serves on the issuer’s board and is a Fairmount manager.

Context

• This is institutional buying by a reported 10% owner (an investment manager acting for a fund), not an executive sale or personal gift. Pre-funded warrants are typically converted into common shares upon exercise subject to the stated ownership cap; they are treated here as derivative purchases. The filing appears timely (filed within the required two business days).