Form 8-K · Current Report · Filed 2024-05-09
Crinetics Pharmaceuticals Reports Q1 2024 Financial Results and Business Update
Crinetics Pharmaceuticals, Inc. reported financial results for the first quarter of 2024, showcasing positive topline results from Phase 3 and Phase 2 studies for paltusotine in acromegaly and carcinoid syndrome, respectively. The company also announced a private placement financing of $350 million to support ongoing operations and clinical trials. Additionally, Crinetics plans to present initial results from Phase 2 studies of atumelnant at the Endocrine Society's annual meeting in June 2024 and expects to submit a New Drug Application (NDA) for paltusotine in acromegaly in the second half of 2024.
- Filer
- Crinetics Pharmaceuticals Inc. CRNX · NASDAQ
- Filed
- Accession
- 0000950170-24-056977
- CIK
- 0001658247
- Signal
- Low impactHealthcare
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Market reaction
Close before filing
$50.89
Next session
-5.7%
Since filing
+64.1%
Latest close
$83.52
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Precedent
Previous filings from CRNX reporting the same item, with the next session's move:
Exhibits (1)
About Crinetics Pharmaceuticals Inc.
Crinetics Pharmaceuticals Inc. is a biopharmaceutical company dedicated to the development of novel therapeutics for patients with endocrine conditions and other rare diseases. The primary focus of Crinetics is on crafting oral therapies that target hormone receptors, offering significant potential to transform the treatment landscape for several disorders. The company's pipeline includes investigational drugs such as paltusotine and CRN04894, aimed at addressing conditions like acromegaly and congenital adrenal hyperplasia, respectively. Crinetics combines cutting-edge drug discovery with an in-depth understanding of disease biology to impact the field of endocrinology substantially. By specializing in small molecules, Crinetics Pharmaceuticals seeks to provide new treatment options that enhance patient quality of life and address significant unmet medical needs. Headquartered in San Diego, California, the enterprise collaborates with academic institutions and industry partners to position its innovations at the forefront of medical advancement. Its work holds significant potential to influence the pharmaceutical industry, contributing to the expansion of targeted therapies within niche markets where few options currently exist.
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