Crinetics Pharmaceuticals Stock Price, News & Analysis

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.

Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the completion of enrollment in the Phase 3 PATHFNDR-1 trial for acromegaly, with topline data expected in Q3 2023. The company reported a net loss of $41.9 million for Q3 2022, a significant increase from $27.9 million in Q3 2021. Revenues totaled $0.5 million, primarily from a licensing agreement. Research and development expenses rose to $32 million. Crinetics also received an Innovation Passport from the UK MHRA for CRN04777, which could expedite its market entry.

On November 10, 2022, Crinetics Pharmaceuticals (Nasdaq: CRNX) announced the grant of non-qualified stock option awards totaling 200,000 shares under its 2021 Employment Inducement Incentive Award Plan to four new non-executive employees. This grant, effective immediately, aligns with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $18.59 per share, equivalent to the fair market value on the grant date, and will vest over four years, contingent on continued employment.