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. reports news on the commercialization of PALSONIFY and the development of therapies for endocrine diseases and endocrine-related tumors. The company’s lead product, PALSONIFY (paltusotine), is a once-daily oral treatment approved for adults with acromegaly who had an inadequate response to surgery or for whom surgery is not an option. Recurring updates include product revenue, commercial launch activity, regulatory approvals and submissions, and financial results.
Crinetics’ pipeline news also covers paltusotine in carcinoid syndrome associated with neuroendocrine tumors, atumelnant in congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome, and CRN09682 for SST2-expressing neuroendocrine tumors and other solid tumors. The company also reports discovery work involving GPCR-targeted small molecules and other endocrine targets.
Crinetics Pharmaceuticals (NASDAQ: CRNX) has granted equity awards to 35 new non-executive employees under its 2021 Employment Inducement Incentive Award Plan. The awards include 152,475 non-qualified stock options with an exercise price of $30.68 per share and 101,800 restricted stock units (RSUs). The stock 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. These grants were made as employment inducements in accordance with Nasdaq Listing Rule 5635(c)(4).
Crinetics Pharmaceuticals (NASDAQ: CRNX) has scheduled its first quarter 2025 financial results announcement for Thursday, May 8, 2025, after market close. The company will host a conference call and webcast at 4:30 p.m. ET to discuss the financial performance and provide a business update.
Participants can join via phone using domestic (1-833-470-1428) or international (1-404-975-4839) dial-in numbers with Conference ID: CRNXQ1. Alternatively, they can access the live webcast through the Events section of Crinetics' website. Participants are advised to connect 15 minutes before the call starts to ensure timely access. The webcast recording will be available later in the Investor Relations section of www.crinetics.com.
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.