Welcome to our dedicated page for Crinetics Pharmaceuticals news (Ticker: CRNX), a resource for investors and traders seeking the latest updates and insights on Crinetics Pharmaceuticals stock.
Crinetics Pharmaceuticals, Inc. (NASDAQ: CRNX) generates frequent news flow around its efforts to develop and commercialize therapies for endocrine diseases and endocrine-related tumors. Company announcements highlight progress across its GPCR-targeted small-molecule portfolio, including regulatory milestones, clinical trial updates, capital markets activity, and corporate developments.
News coverage often focuses on PALSONIFY™ (paltusotine), Crinetics’ once-daily, oral somatostatin receptor type 2 agonist. Updates have included U.S. FDA approval for adults with acromegaly who had an inadequate response to surgery and/or for whom surgery is not an option, early launch metrics, and the design and enrollment status of the pivotal Phase 3 CAREFNDR trial in carcinoid syndrome associated with neuroendocrine tumors.
Investors and observers can also follow regular announcements on atumelnant, the company’s investigational ACTH receptor antagonist in late-stage development for classic congenital adrenal hyperplasia (CAH) and ACTH-dependent Cushing’s syndrome. Press releases describe Phase 2 results, the CALM-CAH Phase 3 trial design, biomarker changes such as reductions in androstenedione, and safety observations from both core studies and open-label extensions.
Additional news items cover the advancement of CRN09682, a nonpeptide drug conjugate targeting SST2-expressing tumors, including first-patient dosing in the Phase 1/2 BRAVESST2 trial and details of the trial’s dose-escalation and expansion phases. Crinetics also reports on preclinical programs like CRN12755 and CRN10329 through R&D Day presentations and conference abstracts.
Beyond R&D, Crinetics issues releases on public offerings of common stock, inducement equity grants under its 2021 Employment Inducement Incentive Award Plan, participation in major healthcare conferences, and executive transitions disclosed via Form 8-K. For users tracking CRNX, this news page provides a centralized view of the company’s clinical, regulatory, financial, and corporate announcements over time.
On April 10, 2023, Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the grant of non-qualified stock options to 15 new non-executive employees, totaling 311,700 shares under the 2021 Employment Inducement Incentive Award Plan. These options, aimed at attracting new talent, have an exercise price of $16.02 per share, equivalent to the closing stock price on the grant date. The options will vest over four years, incentivizing continued employment. Crinetics focuses on developing innovative therapeutics for rare endocrine diseases and related tumors, with ongoing clinical trials for its drug candidates, including Paltusotine for acromegaly. The company aims to address significant unmet medical needs in this niche area.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced on March 10, 2023, that its Board of Directors granted stock options to purchase 250,300 shares of common stock to eight new non-executive employees. These options were awarded under the 2021 Employment Inducement Incentive Award Plan, aimed at attracting new talent in line with Nasdaq regulations. The exercise price is set at $17.28 per share, matching the closing stock price on the grant date. The options will vest over four years, with the first 25% vesting after one year and the remainder monthly thereafter, contingent on continued employment.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the completion of enrollment for the Phase 3 PATHFNDR-1 study of paltusotine in acromegaly, with topline data expected in Q3 2023. The ongoing PATHFNDR-2 study's topline data is now anticipated in Q1 2024. A New Drug Application (NDA) submission for paltusotine is projected for 2024, pending successful outcomes from PATHFNDR studies. In 2022, the company reported a net loss of $163.9 million on revenues of $4.7 million. Despite increased R&D expenses totaling $130.2 million, Crinetics maintains a cash reserve of $334.4 million, projected to sustain operations into 2024.
Radionetics Oncology has appointed Istvan Molnar, M.D. as the new Chief Medical Officer, bringing 15 years of oncology clinical development experience. This strategic hire is critical as the company plans to file three Investigational New Drug (IND) applications in 2023 and 2024, focusing on radiopharmaceuticals aimed at redefining cancer treatment standards. Dr. Molnar has a strong background in regulatory submissions and has successfully led late-stage oncology projects. The growing radiopharmaceutical market is projected to reach $12.6 billion by 2027, emphasizing the potential for Radionetics' innovative therapies.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced on February 10, 2023, that its Board of Directors granted non-qualified stock options for an aggregate of 90,000 shares to six new non-executive employees. This issuance is part of the 2021 Employment Inducement Incentive Award Plan, designed to attract non-previously employed individuals to the company. The options have an exercise price of $19.60, equal to the closing stock price on the grant date, and will vest over four years. This initiative is in compliance with Nasdaq Listing Rule 5635(c)(4) and aims to bolster talent acquisition in the clinical stage pharmaceutical sector.
Crinetics Pharmaceuticals (Nasdaq: CRNX) will participate in a fireside chat at the annual SVB Securities Global Biopharma Conference on February 14, 2023, at 3:40 p.m. Eastern Time. This virtual event, occurring from February 14-16, 2023, will showcase the company's progress in developing therapeutics for rare endocrine diseases and related tumors. Notably, Crinetics is advancing Paltusotine, an investigational SST2 agonist, through Phase 3 trials for acromegaly and Phase 2 for carcinoid syndrome. The live broadcast and archived version will be available on the Events & Presentations page of Crinetics’ website.
Crinetics Pharmaceuticals (CRNX) is advancing its clinical trials with key milestones expected in 2023. The Phase 3 PATHFNDR trials of paltusotine for acromegaly are on track for topline data readouts in 2H 2023, with plans to submit data for regulatory approval if successful. Additionally, a Phase 2 trial of paltusotine in carcinoid syndrome is anticipated to deliver topline data in 2H 2023. The company plans to initiate trials for CRN04894 targeting ACTH-dependent Cushing’s syndrome and congenital adrenal hyperplasia in Q1 2023, as part of its strategy to build a comprehensive endocrine-focused pipeline.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the granting of non-qualified stock options to twelve new non-executive employees on December 10, 2022. Under the 2021 Employment Inducement Incentive Award Plan, a total of 356,300 shares were awarded with an exercise price of $16.26, reflecting the fair market value at the time of the grant. These options will vest over four years, encouraging employee retention. This move aligns with Nasdaq Listing Rule 5635(c)(4), which allows for equity awards to induce employment for new hires.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced an update on CRN04777, an oral somatostatin receptor type 5 (SST5) agonist for congenital hyperinsulinism. Following an Investigational New Drug application submitted to the FDA, the proposed Phase 2 clinical study was placed on hold pending further information from the agency. Previous Phase 1 trials indicated CRN04777 was well tolerated in adults, with no serious side effects reported.
SAN DIEGO, Nov. 22, 2022 – Crinetics Pharmaceuticals (Nasdaq: CRNX) will participate in the 5th Annual Evercore ISI HealthCONx Conference from November 29 to December 1, 2022. The company will host a fireside chat on November 30, 2022, at 1:00 PM (ET), moderated by Josh Schimmer, Research Analyst at Evercore ISI. The presentation will be accessible via the Evercore ISI platform and will be available for replay for 90 days. Interested parties can arrange virtual 1x1 meetings with Crinetics management through their bank or conference representative.