Crinetics Pharmaceuticals Announces September 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Crinetics Pharmaceuticals (Nasdaq: CRNX) has announced new equity grants under its 2021 Employment Inducement Incentive Award Plan. The company granted 62,475 non-qualified stock options and 43,800 restricted stock units (RSUs) to 20 new non-executive employees on September 10, 2025.

The stock options have an exercise price of $35.00 per share, matching CRNX's closing price on the grant date. Both options and RSUs will vest over four years, with options vesting 25% after one year and monthly thereafter, while RSUs will vest in equal annual installments.

News Market Reaction

-3.63%

2 alerts

-3.63% News Effect

-$124M Valuation Impact

$3.30B Market Cap

1.1x Rel. Volume

On the day this news was published, CRNX declined 3.63%, reflecting a moderate negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $124M from the company's valuation, bringing the market cap to $3.30B at that time.

Data tracked by StockTitan Argus on the day of publication.

SAN DIEGO, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on September 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 62,475 shares of its common stock and granted an aggregate of 43,800 restricted stock unit (“RSU”) awards to 20 new non-executive employees, in each case, under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options and RSUs were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4).

The 2021 Inducement Plan is used exclusively for granting equity awards to individuals who were not previously employees of Crinetics, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Crinetics, pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $35.00 per share, which is equal to the closing price of Crinetics’ common stock on the Nasdaq Global Select Market on September 10, 2025. The shares subject to the stock options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter, subject to each employee’s continued employment with Crinetics on such vesting dates. The RSUs will vest over four years in equal annual installments beginning on the one-year anniversary of the applicable vesting commencement date, also subject to each employee’s continued employment with Crinetics on such vesting dates. The stock option and RSU awards are subject to the terms and conditions of the 2021 Inducement Plan and the terms and conditions of an applicable stock option award agreement or RSU award agreement covering the respective grant.

About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. All of the company’s drug candidates are small molecule, new chemical entities resulting from in-house drug discovery efforts. Crinetics’ lead development candidate, PALSONIFY™ (paltusotine), is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly. Paltusotine is also in clinical development for carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome. Additional discovery programs address a variety of endocrine conditions, such as hyperparathyroidism, polycystic kidney disease, Graves’ disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications.

Investors:
Gayathri Diwakar
Head of Investor Relations
gdiwakar@crinetics.com
(858) 345-6340

Media:
Natalie Badillo
Head of Corporate Communications
nbadillo@crinetics.com
(858) 450-6464

Source: Crinetics Pharmaceuticals, Inc.

FAQ

What equity awards did Crinetics Pharmaceuticals (CRNX) grant in September 2025?

Crinetics granted 62,475 stock options and 43,800 RSUs to 20 new non-executive employees under its 2021 Inducement Plan.

What is the exercise price for CRNX's September 2025 inducement stock options?

The stock options were granted with an exercise price of $35.00 per share, equal to CRNX's closing price on September 10, 2025.

How do the vesting terms work for Crinetics' September 2025 inducement grants?

Stock options vest over 4 years with 25% vesting after year one and the rest monthly. RSUs vest over 4 years in equal annual installments.

What is the purpose of Crinetics' 2021 Inducement Plan?

The plan is used exclusively for granting equity awards to new employees as an inducement for joining Crinetics, in accordance with Nasdaq Rule 5635(c)(4).