Crinetics Pharmaceuticals Stock Price, News & Analysis

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the grant of non-qualified stock options for 107,500 shares to six new non-executive employees on July 12, 2022. These options were awarded under the 2021 Employment Inducement Incentive Award Plan to attract new talent, complying with Nasdaq Listing Rule 5635(c)(4). The exercise price is set at $20.33 per share, reflecting the current market value. The options will vest over four years, contingent upon continued employment. Crinetics focuses on developing therapies for rare endocrine diseases, with ongoing clinical trials for key drug candidates.

On June 10, 2022, Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the grant of non-qualified stock options to purchase 138,500 shares to seven new non-executive employees. This action follows the 2021 Employment Inducement Incentive Award Plan, aimed at attracting new talent. The options have an exercise price of $18.59 per share and will vest over four years, contingent upon continued employment. This initiative aligns with Nasdaq regulations designed to incentivize new hires and support the company's growth in developing treatments for rare endocrine diseases.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the selection of CRN04894 for oral presentation at ENDO 2022. This investigational drug targets conditions like Cushing’s disease and reduces serum cortisol levels and urine free cortisol excretion. Details include an oral session on June 12, 2022, highlighting the inhibition of ACTH-stimulated cortisol secretion. Additionally, results for CRN04777 and a preclinical PTH antagonist will be presented through narrated posters. These events underscore Crinetics' commitment to advancing treatments for rare endocrine diseases.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced participation in a fireside chat at the JMP Securities Life Sciences Conference on June 15-16, 2022, held at the Lotte New York Palace. The chat is scheduled for 3:30 p.m. Eastern Time on June 15. Investors can access the live and archived presentation via the provided webcast link. The company focuses on developing therapies for rare endocrine diseases, with candidates like paltusotine in Phase 3 development for acromegaly.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced positive findings from the Phase 1 clinical study of CRN04894, an investigational ACTH antagonist targeting Cushing’s disease and congenital adrenal hyperplasia (CAH). The study demonstrated significant reductions in serum cortisol levels and 24-hour urine free cortisol excretion after administering CRN04894 to 49 healthy volunteers. The drug showed consistent oral bioavailability and favorable safety profiles. Plans to initiate patient studies for CRN04894 later this year signal a promising trajectory for Crinetics in the treatment of rare endocrine disorders.

Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) reported its Q1 2022 results, highlighting key developments in their clinical pipeline. The company anticipates Phase 1 data for CRN04894 in Q2 2022 and plans to initiate CRN04777's Phase 2 study in congenital hyperinsulinism in 2H 2022. Significant progress includes positive results from CRN04777's Phase 1 study and a strategic licensing agreement with Sanwa for paltusotine in Japan, generating $13 million in upfront fees. Financially, Crinetics raised $125 million from a stock offering, ending Q1 with $319.7 million in cash, expected to fund operations into 2024.

On May 10, 2022, Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the granting of non-qualified stock option awards totaling 234,600 shares to eight non-executive employees as part of the 2021 Employment Inducement Incentive Award Plan. The options, with an exercise price of $17.60 per share, equal the fair market value at the time of the grant. The options will vest over four years, starting with 25% on the one-year anniversary and the remaining in monthly installments. This move aligns with Nasdaq Listing Rule 5635(c)(4) and is intended to attract new talent.

Crinetics Pharmaceuticals (Nasdaq: CRNX) has successfully completed its follow-on offering of 5,625,563 shares at $22.22 per share, raising approximately $125 million. The company plans to utilize these funds to support the development of its therapeutic candidates, including paltusotine, CRN04777, and CRN04894, as well as for general corporate purposes. New investors participated in the offering alongside existing shareholders. The offering was managed by SVB Leerink, Evercore ISI, and Cantor Fitzgerald.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced a follow-on offering of 5,625,563 shares at $22.22 per share, expected to raise approximately $125 million. The shares will be sold solely by the company, with the offering set to close around April 18, 2022, pending customary conditions. Proceeds will fund the development of drug candidates paltusotine, CRN04777, and CRN04894, as well as general corporate purposes. The offering is conducted under a shelf registration statement with oversight from SVB Leerink, Evercore ISI, and Cantor.