Crinetics Pharmaceuticals Inc

Crinetics Pharmaceuticals, Inc. operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly. The firm is also developing other oral nonpeptide somatostatin agonists for neuroendocrine tumors and hyperinsulinism, as well as an oral nonpeptide ACTH antagonist for the treatment of Cushing's disease. The company was founded by R. Scott Struthers, Yun-Fei Zhu and Stephen F. Betz in 2008 and is headquartered in San Diego, CA.

Earnings data Q4 2020

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Crinetics Pharmaceuticals excels in 2023 with promising pipeline advancements

Crinetics Pharmaceuticals had a successful year in 2023, with promising results from their lead candidate, paltusotine, in acromegaly and carcinoid syndrome, supported by a strong financial position and progress in key clinical trials.
While facing challenges in response rates and drug positioning, Crinetics remains focused on advancing their pipeline, exploring new treatment pathways, and optimizing drug characteristics for efficacy and safety.
Opportunities lie in expanding the therapeutic portfolio, upcoming data releases, and engagement at industry events to drive awareness, investor confidence, and potential market growth for Crinetics Pharmaceuticals.

Crinetics Pharmaceuticals reports positive Q1 results and pipeline advancements

Crinetics Pharmaceuticals showcased positive clinical results and a strong financial position in Q1 2024, with plans for Phase III studies and NDA filings.
The company's focus on injectable depot therapies addresses treatment burden challenges, while questions raised during the call highlight areas for further development.
Anticipation for future updates from the pipeline and opportunities for market expansion through strategic relationships position Crinetics for potential growth.
Despite facing a high cash burn rate, Crinetics Pharmaceuticals' progress in key therapeutic areas and financial strengthening provide a foundation for future success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Late-Breaking Presentations of Initial Results From Phase 2 Studies of Atumelnant ( CRN 0 4894 ) in Congenital Adrenal Hyperplasia and ACTH-Dependent Cushing's Syndrome Will be Presented at ENDO June 1-4, 2024

Crinetics Pharmaceuticals Reports First Quarter 2024 Financial Results and Provides Business Update

SAN DIEGO, May 02, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that it will report first quarter 2024 financial results on Thursday, May 9, 2024, after the close of the U.S. financial markets. Company management will host a conference call at 4:30 p.m. ET to discuss financial results and provide a business update.

Crinetics Pharmaceuticals to Report First Quarter 2024 Financial Results on May 9, 2024

SAN DIEGO, April 11, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on April 10, 2024, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 121,300 shares of its common stock to ten new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces April 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Crinetics (CRNX) stock rises after achieving goals in the second late-stage study evaluating paltusotine in patients with acromegaly who are treatment-naive or not currently receiving medical therapy.

Crinetics (CRNX) Up as Second Acromegaly Study Meets Goals

Crinetics Pharmaceuticals (CRNX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

Crinetics Pharmaceuticals (CRNX) Stock Jumps 19.1%: Will It Continue to Soar?

Biotech stock Crinetics Pharmaceuticals rocketed early Tuesday after solid trial results for its oral growth hormone treatment.

Biotech Stock Crinetics Jets Higher On Second Phase 3 Trial Win

Crinetics Pharmaceuticals said on Tuesday its experimental drug to treat a hormonal disorder met the main goal in a late-stage study.

Crinetics Pharma's hormonal disorder drug meets main goal in late-stage study

56% of Participants on Paltusotine Achieved IGF-1 ≤1.0 xULN vs. 5% on Placebo (p

Crinetics' Once-Daily Oral Paltusotine Achieved the Primary and All Secondary Endpoints in the Phase 3 PATHFNDR-2 Study in Acromegaly Patients

Paltusotine Treatment Demonstrated Rapid and Sustained Reductions in Frequency and Severity of Flushing Episodes and Bowel Movements

Crinetics Announces Positive Topline Results from Phase 2 Trial of Paltusotine for the Treatment of Carcinoid Syndrome

SAN DIEGO, March 11, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on March 10, 2024, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 42,450 shares of its common stock to five new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces March 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Crinetics Pharmaceuticals, Inc.'s drug, paltusotine, has shown promising efficacy in treating acromegaly, with an 83% efficacy rate in maintaining IGF-1 levels.

Crinetics: Paltusotine's Phase 3 Triumph Transforms Trajectory (Rating Upgrade)

Crinetics Pharmaceuticals, Inc. (CRNX) Q4 2023 Earnings Call Transcript

Phase 3 PATHFNDR-2 Study Topline Results Expected in March 2024; Pending Results, NDA Submission in Acromegaly Anticipated 2H 2024

Crinetics Pharmaceuticals Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update

SAN DIEGO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) (“Crinetics” or the “Company”), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, announced today that it has agreed to sell 8,333,334 shares of its common stock at a price of $42.00 per share to a select group of institutional and accredited healthcare specialist investors in an oversubscribed private placement. Crinetics anticipates the gross proceeds from the private placement to be approximately $350 million, before deducting any offering-related expenses. The private placement is expected to close on or about March 1, 2024, subject to the satisfaction of customary closing conditions.

Crinetics Pharmaceuticals Announces Oversubscribed $350 Million Private Placement

SAN DIEGO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that it will report fourth quarter and full year 2023 financial results on Wednesday, February 28, 2024, after the close of the U.S. financial markets. Company management will host a conference call and webcast at 4:30 p.m. ET to discuss financial results and provide a business update.

Crinetics Pharmaceuticals to Report Fourth Quarter and Full Year 2023 Financial Results on February 28, 2024

SAN DIEGO, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on February 10, 2024, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 73,000 shares of its common stock to nine new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces February 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN DIEGO, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on January 10, 2024, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 112,500 shares of its common stock to eight new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces January 2024 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Significant Reductions in Frequency and Intensity of Both Bowel Movements and Flushing Episodes Were Observed Paltusotine was Well-Tolerated with an Overall Pharmacokinetic Profile that was Consistent with Prior Studies Phase 2 Study Enrollment is Complete (N=36), and Topline Results Expected in 1H 2024 Management to Host a Conference Call Today at 5:00 p.m. Eastern Time SAN DIEGO, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced positive initial findings from its ongoing open-label Phase 2 carcinoid syndrome (CS) study of paltusotine, an oral, once-daily investigational compound being developed for the treatment of acromegaly and CS.

Crinetics Announces Positive Initial Findings from Ongoing Open-Label Phase 2 Study of Paltusotine for the Treatment of Carcinoid Syndrome

SAN DIEGO, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, today announced that on December 10, 2023, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 94,000 shares of its common stock to six new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces December 2023 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Today, we take a deeper look at Crinetics Pharmaceuticals, Inc., which has seen a significant increase in its stock price in recent months. The company's primary drug candidate, paltusotine, looks like it could become a best of breed treatment for the rare disease acromegaly. Crinetics is also evaluating paltusotine for the treatment of Carcinoid syndrome and has other compounds in development for different diseases.

Crinetics Pharmaceuticals: Some Caution Warranted

SAN DIEGO, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that company management will participate in fireside chats at the 6th Annual Evercore ISI HealthCONx Conference in Miami, Florida and the Piper Sandler 35th Annual Healthcare Conference in New York City.

Crinetics Pharmaceuticals to Participate in Upcoming Investor Conferences

SAN DIEGO, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, today announced that on November 10, 2023, the Compensation Committee of Crinetics' Board of Directors granted non-qualified stock option awards to purchase an aggregate of 83,600 shares of its common stock to four new non-executive employees under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals Announces November 2023 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

The mean of analysts' price targets for Crinetics Pharmaceuticals, Inc. (CRNX) points to a 56.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts See a 56.94% Upside in Crinetics Pharmaceuticals, Inc. (CRNX): Can the Stock Really Move This High?

The consensus price target hints at a 55.5% upside potential for Crinetics Pharmaceuticals, Inc. (CRNX). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Think Crinetics Pharmaceuticals, Inc. (CRNX) Could Surge 55.53%: Read This Before Placing a Bet

Crinetics Pharmaceuticals, Inc. (CRNX) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.

News for Crinetics Pharmaceuticals Inc Stock (CRNX)