** Oncology biotech Crescent Biopharma's CBIO.O shares down 2.4% premarket to $14.94 after $125 mln overnight follow-on priced

** Waltham, Massachusetts-based CBIO late Tues announced ~8.6 mln shares, including pre-funded warrants, at $14.50

** Offering price represents 5.3% discount to stock's last close

** Late Tues, CBIO estimates it had cash and equivalents of approx $171.6 mln at end-June, per an SEC filing

** Co, which has ~27.6 mln shares outstanding, intends to use net offering proceeds to fund clinical development of CR-001, CR-002 and CR-003, continued R&D for preclinical programs, among other purposes, per the prospectus

** Jefferies, TD Cowen, Guggenheim and Cantor Fitzgerald joint bookrunners

** Through Tues, stock up 29% YTD

** 8 of 9 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT $32.50, per LSEG