Crinetics Pharmaceuticals Stock Price, News & Analysis

Crinetics Pharmaceuticals (Nasdaq: CRNX) has announced a strategic partnership with Sanwa Kagaku Kenkyusho Co., Ltd. to exclusively develop and commercialize paltusotine in Japan, aimed at treating acromegaly and neuroendocrine tumors. The agreement includes a $13 million upfront payment, milestone payments, and tiered royalties on net sales. Sanwa will handle all clinical trial costs and has the exclusive rights in Japan, while Crinetics retains global rights. The partnership anticipates significant market potential with around 21,000 patients affected by these conditions in Japan.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced its participation in the SVB Leerink Global Healthcare Conference from February 14-18, 2022. A fireside chat featuring company management is scheduled for February 16, 2022, at 1:00 p.m. Eastern Time. Investors can access the live webcast through a provided link and find the archived presentation on the company’s website. Crinetics focuses on developing novel therapeutics for rare endocrine diseases, with its lead candidate, paltusotine, currently in a Phase 3 clinical program for acromegaly.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced on February 1, 2022, that its Compensation Committee granted non-qualified stock options for 135,000 shares to seven new non-executive employees. This grant follows the 2021 Inducement Plan to incentivize employees joining the company, in compliance with Nasdaq rules. The options have an exercise price of $18.84 per share, matching Crinetics' closing stock price on the grant date. Shares will vest over four years, contingent on continued employment.

Crinetics Pharmaceuticals (NASDAQ: CRNX) provided a company update at the J.P. Morgan Healthcare Conference on January 12, 2022. Key highlights include the expected Phase 1 data for CRN04894 and CRN04777 in 1Q 2022, alongside the initiation of a Phase 2 trial for paltusotine in carcinoid syndrome, also anticipated in 2022. The company aims to advance multiple clinical trials, including the ongoing Phase 3 PATHFNDR trials for paltusotine in acromegaly, with topline data expected in 2023. Crinetics is well-positioned for growth, supported by a robust clinical pipeline and strong financial health.

Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) has appointed Dr. Rogério Vivaldi Coelho to its board of directors. Dr. Vivaldi brings more than 20 years of experience in pharmaceuticals and a deep understanding of rare diseases. He previously served as CEO of Sigilon Therapeutics and held key positions at Bioverativ and Genzyme, where he led successful product launches. This appointment aims to leverage his expertise to advance Crinetics' clinical programs and develop treatments for rare endocrine diseases. The company's lead candidate, paltusotine, is currently undergoing a Phase 3 trial for acromegaly.

Crinetics Pharmaceuticals (NASDAQ: CRNX) will participate in the 4th Annual Evercore ISI HealthCONx Conference from November 30 to December 2, 2021. Management will engage in a fireside chat on December 2, 2021, at 12:35 PM ET. Investors can access the webcast here. A replay will be available for 90 days following the event. Crinetics focuses on novel therapies for rare endocrine diseases and is advancing its lead candidate, paltusotine, for treating acromegaly.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced promising new data from the ACROBAT Advance trial of paltusotine in patients with acromegaly, to be presented at the Society for Endocrinology BES congress in Edinburgh. A total of 84% of eligible participants continued from previous Phase 2 studies. After 51 weeks of treatment, median IGF-1 levels were maintained at lower than washout levels, indicating effective management of the disease. The treatment was generally well tolerated, reinforcing paltusotine's potential as a preferred oral alternative to injected therapies.

Crinetics Pharmaceuticals (CRNX) reported a strong pipeline with three new chemical entities (NCEs) following positive Phase 1 results for CRN04894 and CRN04777. The company co-founded Radionetics Oncology with $30 million in financing, focusing on novel radiopharmaceuticals. Financially, R&D expenses rose to $21.6 million, and the net loss increased to $27.9 million. However, cash reserves grew to $193.3 million, excluding recent stock offering proceeds of $172.5 million. The outlook remains positive with advancements in multiple programs and a solid financial foundation.

Crinetics Pharmaceuticals (Nasdaq: CRNX) has successfully closed its public offering of 8,712,400 shares of common stock, raising approximately $172.5 million in gross proceeds. The offering price was set at $19.80 per share, with shares sold reflecting full exercise of underwriters' options. The funds will aid in the development of key candidates, including paltusotine, CRN04894, and CRN04777, along with supporting working capital and general corporate needs.