Crinetics Pharmaceuticals - CRNX STOCK NEWS

Crinetics Pharmaceuticals (CRNX) has announced new equity grants under its 2021 Employment Inducement Incentive Award Plan. On April 10, 2025, the company's Compensation Committee awarded:

- Non-qualified stock options to purchase 124,950 shares with an exercise price of $26.85 per share
- 84,725 restricted stock unit (RSU) awards

These grants were made to 26 new non-executive employees as employment inducements. The stock options will vest over four years, with 25% vesting after one year and the remainder monthly over 36 months. RSUs will vest in four equal annual installments. All grants are subject to continued employment and were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals (CRNX) announced two major regulatory milestones for paltusotine, its novel once-daily oral treatment for acromegaly. The European Medicines Agency (EMA) has validated the Marketing Authorization Application (MAA) for review and granted Orphan Drug Designation (ODD) on February 27, 2025.

Paltusotine, the first oral selectively-targeted somatostatin receptor type 2 nonpeptide agonist, demonstrated success in two Phase 3 trials, meeting all primary and secondary endpoints. The trials showed statistically significant biochemical control and symptom improvement compared to placebo, with good tolerability.

The MAA submission includes data from 18 clinical trials. This follows the FDA's acceptance of the New Drug Application with a PDUFA date of September 25, 2025. The ODD status provides potential benefits including 10-year market exclusivity in the EU and reduced regulatory fees.

Crinetics Pharmaceuticals (CRNX) has announced new equity grants under its 2021 Employment Inducement Incentive Award Plan. The company granted stock options to purchase 95,675 shares to fifteen new non-executive employees and 80,000 shares to one executive employee. Additionally, restricted stock unit (RSU) awards of 40,775 units were granted to sixteen non-executive employees and 52,000 units to one executive employee.

The stock options have an exercise price of $33.75 per share, matching CRNX's closing price on March 10, 2025. Both stock options and RSUs follow a four-year vesting schedule, with stock options vesting 25% after one year and the remainder monthly over 36 months, while RSUs vest in equal annual installments. These grants were made as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals (CRNX) reported its Q4 and full year 2024 financial results, highlighting significant progress across operations. The company's NDA for paltusotine in acromegaly has a PDUFA date of September 25, 2025. Financial highlights include:

- Net loss of $80.6M for Q4 2024 (vs $60.1M in Q4 2023)
- Full-year 2024 net loss of $298.4M (vs $214.5M in 2023)
- Strong cash position of $1.4B, providing runway into 2029
- Expected 2025 cash burn of $340-380M

The company strengthened its leadership team with key appointments and reported positive results from Phase 2 studies of paltusotine in carcinoid syndrome and atumelnant in congenital adrenal hyperplasia. Four late-stage trials are planned for 2025, along with multiple IND filings for new development candidates.

Crinetics Pharmaceuticals (CRNX) has appointed Tobin 'Toby' Schilke as Chief Financial Officer, effective February 28, 2025. Schilke brings over 25 years of global pharmaceutical experience and will succeed Marc Wilson. In his previous role as CFO at Revance Therapeutics, he managed finance and operations for a 650-employee company, achieving over $700 million in cumulative revenue across two product launches.

At Achaogen, Schilke built various operational functions and executed over $1.5 billion in financing deals. He previously held increasing roles at Roche/Genentech. As part of his compensation package, Schilke will receive 52,000 restricted stock units and options to purchase 80,000 shares, vesting over four years, granted under the company's 2021 Inducement Plan.

Crinetics Pharmaceuticals (CRNX) has announced its participation in two major healthcare investor conferences in March 2025. The company will be present at the TD Cowen 45th Annual Healthcare Conference in Boston, where management will participate in a fireside chat on March 3 at 11:10 a.m. ET. Additionally, they will attend the Leerink Global Healthcare Conference in Miami, featuring another fireside chat on March 10 at 4:20 p.m. ET.

Both events will be available via webcast, with live and archived versions accessible through the Events & Presentations page in the Investors section of Crinetics' website. Investors interested in one-on-one meetings with management are encouraged to contact their conference representatives.

Crinetics Pharmaceuticals (CRNX) has announced new equity grants under its 2021 Employment Inducement Incentive Award Plan. The company's Compensation Committee approved non-qualified stock options to purchase 105,100 shares and 9,950 restricted stock units (RSUs) for 14 new non-executive employees on February 10, 2025.

The stock options were priced at $36.53 per share, matching CRNX's closing price on the Nasdaq Global Select Market. The options will vest over four years, with 25% vesting after one year and the remainder vesting monthly over 36 months. The RSUs will vest in equal annual installments over four years. Both grants are contingent on continued employment and were made in accordance with Nasdaq Listing Rule 5635(c)(4).

Crinetics Pharmaceuticals (CRNX) has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, February 27, 2025, after market close. The company will host a conference call at 4:30 p.m. ET, featuring management discussion of financial results and a business update.

Interested parties can join via phone using domestic (1-800-267-6316) or international (1-203-518-9783) dial-in numbers with Conference ID: CRNXQ4. Alternatively, participants can access a live webcast through the Events section of Crinetics' website. Participants are advised to connect 15 minutes before the call. The webcast will be archived on the company's Investor Relations section.

Crinetics Pharmaceuticals (CRNX) has announced new stock option grants under its 2021 Employment Inducement Incentive Award Plan. The company granted options to purchase 96,100 shares to sixteen new non-executive employees and 100,000 shares to one new executive employee on January 10, 2025.

The options were granted at an exercise price of $40.59 per share, matching Crinetics' closing price on The Nasdaq Global Select Market. The vesting schedule spans four years, with 25% vesting after one year and the remaining shares vesting in 36 equal monthly installments, contingent on continued employment. These grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as inducement awards for new employees.