Crinetics Pharmaceuticals Announces Pricing of Public Offering of Common Stock

Core Viewpoint - Crinetics Pharmaceuticals, Inc. has announced a public offering of 7,620,000 shares at a price of $45.95 per share, aiming to raise approximately $350 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering consists entirely of shares sold by Crinetics, with a 30-day option for underwriters to purchase an additional 1,143,000 shares [1]. - The expected closing date for the offering is around January 8, 2026, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for commercial activities related to the launch of PALSONIFY™, R&D of product candidates, and general corporate purposes, including capital expenditures and working capital [2]. - Crinetics may also consider using a portion of the proceeds for in-licensing, acquiring, or investing in complementary businesses or technologies, although there are no current commitments to do so [2]. Group 3: Company Overview - Crinetics Pharmaceuticals focuses on developing novel therapeutics for endocrine diseases and related tumors, with expertise in targeting G-protein coupled receptors (GPCRs) [6]. - The company's lead product, PALSONIFY™ (paltusotine), is the first oral treatment approved by the FDA for adults with acromegaly who have not responded adequately to surgery [7]. - Crinetics has a pipeline of over 10 disclosed programs, including candidates for congenital adrenal hyperplasia and neuroendocrine tumors, addressing various endocrine conditions [7].