Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Gayathri Diwakar - Head-Investor Relations Scott Struthers - Founder and Chief Executive Officer Marc Wilson - Chief Financial Officer Dana Pizzuti - Chief Medical and Development Officer Alan Krasner - Chief Endocrinologist Conference Call Participants Cory Jubinville - LifeSci Capital Jessica Fye - J.P. Morgan Jeff Hung - Morgan Stanley Charlie Moore - Baird Dennis Ding - Jeffer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38583 Crinetics Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) Delaware 26-3744114 (State or oth ...

Drug Development - Submitted New Drug Application (NDA) for paltusotine for the treatment of acromegaly, with FDA notification expected in December 2024[3] - The company has four new drug candidates currently in IND-enabling studies, with plans for clinical development in 2025[4] - Anticipates additional data from the Phase 2 study of atumelnant in congenital adrenal hyperplasia (CAH) by early 2025[4] - Plans to finalize a Phase 3 protocol and initiate site startup activities for paltusotine in carcinoid syndrome by the end of 2024[4] - The first-in-human enabling studies for a TSH antagonist candidate have commenced, with an IND filing expected in 2025[3] Financial Performance - Completed an upsized public offering of common stock for gross proceeds of $575 million, strengthening the company's balance sheet[3] - Research and development expenses increased to $61.9 million for Q3 2024, up from $43.8 million in Q3 2023, primarily due to higher personnel and manufacturing costs[5] - General and administrative expenses rose to $25.9 million for Q3 2024, compared to $15.5 million for the same period in 2023, driven by increased personnel and outside services costs[5] - Net loss for Q3 2024 was $76.8 million, compared to a net loss of $57.5 million in Q3 2023[5] - Cash, cash equivalents, and investment securities totaled $862.7 million as of September 30, 2024, compared to $558.6 million as of December 31, 2023[5]

Novel Nonpeptide Drug Conjugate Platform to be Debuted, Featuring Preclinical Profile of Lead Candidate CRN09682 Targeting SST2-Expressing Tumors, which is on Track for IND Submission Early 2025 Data From Phase 2 Trial of Paltusotine in Carcinoid Syndrome to be Highlighted in Crinetics Symposium and Two Presentations SAN DIEGO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced two abstracts from its transformative, in-house discovery and development programs w ...

Submission of New Drug Application for Paltusotine for the Treatment of Acromegaly Completed Upsized Public Offering of $575M of Common Stock Debut of First Drug Candidate from a Novel Nonpeptide Drug Conjugate Platform at North American Neuroendocrine Tumor Society (NANETS) Total of Four New Drug Candidates in IND-Enabling Preclinical Studies Management Hosting Conference Call at 4:30 p.m. ET Today SAN DIEGO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stag ...

SAN DIEGO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors, announced today the pricing of an upsized underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $50.00 per share. All of the shares to be sold in the offering are to be sold by Crinetics. The gross pr ...

SAN DIEGO, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors, announced today that it intends to offer and sell, subject to market and other conditions, $400.0 million of shares of its common stock in a proposed underwritten public offering. In addition, Crinetics intends to grant the underwriters a 30-da ...

On October 3, Representative Josh Gottheimer of New Jersey's 5th district disclosed a September 25 investment in Crinetics Pharmaceuticals (NASDAQ: CRNX), a mid-cap stock that no U.S. politician had previously traded. At that time, the CRNX share price was $50.58, and the representative's total purchase ranged from $1,001 to $15,000. Since then, CRNX stock has been on a sustained upward trend — at press time, trading at $56.48, an increase of 11.66% since Gottheimer's purchase. Depending on the amount inves ...

SAN DIEGO, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for paltusotine, the first once-daily, oral, selectively-targeted somatostatin receptor type 2 nonpeptide agonist in development for the proposed treatment and long-term maintenance therapy of acromegaly. "This NDA submission brings us one step closer to our goal of delivering a new generation of therapy tha ...

SAN DIEGO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors, today announced that company management will participate in fireside chats at the Morgan Stanley 22nd Annual Global Healthcare Conference and the Cantor Global Healthcare Conference both being held in New York, NY in September. Morgan Stanley 2 ...