Form 8-K · Current Report · Filed 2026-08-03
Crinetics Pharmaceuticals to be Acquired by Vertex Pharmaceuticals for $10.0 Billion
Crinetics Pharmaceuticals, Inc. announced on August 3, 2026, that it has entered into a definitive agreement to be acquired by Vertex Pharmaceuticals Incorporated for $85.00 per share in cash, representing a total equity value of approximately $10.0 billion, or approximately $8.8 billion net of estimated cash acquired. The transaction, which is expected to close in the third quarter of 2026, was unanimously approved by both companies' Boards of Directors and is subject to customary closing conditions, including regulatory approvals and stockholder approval. Crinetics also reported its financial results for the second quarter of 2026, showing net product revenue of $24.0 million, up from $10.3 million in the first quarter of 2026. The company's total revenue for the quarter was $25.1 million, with a net loss of $120.9 million. Cash, cash equivalents, and investment securities totaled $1.2 billion as of June 30, 2026.
- Filer
- Crinetics Pharmaceuticals Inc. CRNX · NASDAQ
- Filed
- Accession
- 0001658247-26-000052
- CIK
- 0001658247
- Signal
- High impactHealthcare
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$83.52
Since filing
+0.0%
Latest close
$83.52
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from CRNX reporting the same item, with the next session's move:
Insider tape
Within 45 days of this filing, CRNX insiders reported 1 Form 4 transaction — net selling of $120K.
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.
Never miss another CRNX filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.