Crinetics Pharmaceuticals(US:CRNX)2021-03-31 03:25Clinical Program Updates - The company plans to initiate two Phase 3 trials (PATHFNDR-1 and PATHFNDR-2) for paltusotine in acromegaly to support broad labeling in the US and Europe [4] - PATHFNDR-1 will evaluate paltusotine in acromegaly patients switching from injectable octreotide or lanreotide depots, with topline data expected in 2023 [4, 8] - PATHFNDR-2 will evaluate paltusotine in untreated acromegaly patients, with topline data also expected in 2023 [4, 12] - A Phase 2 trial of paltusotine in carcinoid syndrome due to NETs is planned to be initiated by the end of 2021 [14] - A Phase 1 study of CRN04894, an investigational ACTH antagonist for Cushing's disease and congenital adrenal hyperplasia (CAH), has been initiated, with SAD data expected in the first half of 2021 and MAD data expected in the second half of 2021 [2, 16, 23] - A Phase 1 study of CRN04777, an investigational SST5 agonist for congenital hyperinsulinism, has been initiated, with SAD data expected in mid-2021 and MAD data expected in the second half of 2021 [2, 18, 23] Financial Position - The company ended 2020 with over $170 million in cash, cash equivalents, and investments [2] - As of December 31, 2020, the company had $170.9 million in cash, cash equivalents, and investments [20] - The company's total operating expenses (OpEx) for the full year 2020 were $75.0 million, including $57.0 million in R&D expenses and $18.0 million in G&A expenses [21] - The company reported a net loss of $73.8 million for the full year 2020 [21]