Crinetics Earnings Reports

Crinetics Pharmaceuticals reported a net loss of $80.6 million for Q4 2024, compared to a net loss of $60.1 million in Q4 2023. The company had no reported revenues for the quarter. Research and development expenses increased significantly, primarily due to higher personnel costs and expanded clinical activities. Crinetics remains well-funded, with $1.4 billion in cash, expected to support operations into 2029.

Crinetics Pharmaceuticals reported its Q3 2024 financial results, highlighting the submission of the NDA for paltusotine and a strengthened balance sheet with a $575 million public offering. The company's focus remains on advancing its pipeline and preparing for the potential launch of paltusotine in 2025.

Crinetics Pharmaceuticals reported a net loss of $74.1 million for Q2 2024, compared to a net loss of $51.0 million for the same period in 2023. Revenues were $0.4 million, down from $1.0 million in the prior year. The company's cash, cash equivalents, and investments totaled $863.0 million as of June 30, 2024.

Crinetics Pharmaceuticals reported Q1 2024 financial results, highlighting positive data from Phase 3 trials of paltusotine in acromegaly and Phase 2 study in carcinoid syndrome. The company is preparing for an NDA submission for paltusotine in the second half of 2024 and plans to initiate a Phase 3 study in carcinoid syndrome by the end of the year. They strengthened their balance sheet with a $350 million private placement.

Crinetics Pharmaceuticals reported its Q4 and full year 2023 financial results, highlighting the progress of paltusotine and CRN04894, and a $350 million private placement equity financing to extend the cash runway into 2028.

Crinetics Pharmaceuticals reported its Q3 2023 financial results, featuring a net loss of $57.5 million and revenues of $0.3 million. The company highlighted the success of its Phase 3 PATHFNDR-1 study for paltusotine in acromegaly and the anticipated data releases from other ongoing studies.

Crinetics Pharmaceuticals reported revenue of $1 million and a net loss of $51.0 million for the second quarter of 2023. The PATHFNDR program for acromegaly continues to progress, with topline results from the Phase 3 PATHFNDR-1 study expected in September and enrollment completed in the Phase 3 PATHFNDR-2 study. The company has suspended development of CRN04777.

Crinetics Pharmaceuticals reported a net loss of $46.0 million on revenues of $2.7 million for the first quarter ended March 31, 2023. The company's cash, cash equivalents, and investments totaled $296.1 million as of March 31, 2023, which is expected to fund its operating plan through 2024.

Crinetics Pharmaceuticals reported a net loss of $45.0 million for the fourth quarter of 2022, with revenues of $0.7 million. The company's cash, cash equivalents, and investments totaled $334.4 million as of December 31, 2022. They expect the current cash to fund operations through 2024.

Crinetics Pharmaceuticals reported a net loss of $41.9 million for the third quarter of 2022, with revenues of $0.5 million. The company's research and development expenses were $32.0 million, and general and administrative expenses were $11.9 million. Unrestricted cash, cash equivalents, and investments totaled $368.4 million as of September 30, 2022.

Crinetics Pharmaceuticals reported its Q2 2022 financial results, highlighting the progress of its Phase 3 PATHFNDR program for paltusotine in acromegaly and its Phase 2 program in carcinoid syndrome, both on track for top-line data in 2023. The company also reported positive top-line results from the CRN04894 Phase 1 study and strengthened its balance sheet with a $125 million common stock offering.

Crinetics Pharmaceuticals reported first quarter 2022 financial results, featuring revenue of $3.1 million from a licensing agreement with Sanwa, and a net loss of $34.6 million. The company highlighted progress with CRN04777 and CRN04894, and strengthened its balance sheet with a $125 million common stock offering.

Crinetics Pharmaceuticals reported a net loss of $30.8 million for Q4 2021. The company's cash, cash equivalents, and investments totaled $333.7 million as of December 31, 2021. Revenues for the fourth quarter were $1.1 million, consisting of non-cash upfront consideration recognized upon the transfer of intellectual property from Crinetics to Radionetics Oncology.

Crinetics Pharmaceuticals reported financial results for the third quarter ended September 30, 2021. The company highlighted positive Phase 1 data from its CRN04894 and CRN04777 programs, the unveiling of a parathyroid hormone receptor antagonist program, and the co-founding of Radionetics Oncology. They also completed an underwritten public offering of common stock, raising gross proceeds of $172.5 million.

Crinetics Pharmaceuticals reported a net loss of $26.1 million for the second quarter of 2021. The company saw advancements across its pipeline, including the commencement of dosing in the Phase 3 PATHFNDR-1 trial of paltusotine in acromegaly and the announcement of data from CRN04894’s Phase 1 program.

Crinetics reported a net loss of $21.6 million for the fourth quarter of 2020. The company is advancing paltusotine into a Phase 3 program for acromegaly and expects Phase 1 clinical proof-of-concept data for CRN04894 and CRN04777 in 2021.

Crinetics Pharmaceuticals reported positive topline results for the ACROBAT Edge and Evolve Phase 2 trials of oral paltusotine for acromegaly and received Rare Pediatric Disease Designation for CRN04777 for congenital hyperinsulinism. The company's research and development expenses increased, as did general and administrative expenses, leading to a higher net loss compared to the same period in the previous year. Cash, cash equivalents, and investments totaled $186.8 million.

Crinetics Pharmaceuticals reported a net loss of $16.5 million for the second quarter of 2020. The company's cash, cash equivalents, and investments totaled $205.2 million as of June 30, 2020, which includes $107.9 million from a public offering.

Crinetics Pharmaceuticals reported positive interim results for its ACROBAT Edge Phase 2 trial of oral paltusotine in acromegaly treatment and completed a public offering, raising $107.9 million in net proceeds. The company's pipeline advancements and focus on paltusotine for acromegaly and NETs were also highlighted.

Crinetics Pharmaceuticals reported a net loss of $14.5 million for the fourth quarter of 2019, compared to a net loss of $8.5 million for the same period in 2018. Research and development expenses were $12.1 million, and general and administrative expenses were $3.4 million. Unrestricted cash, cash equivalents, and investments totaled $118.4 million as of December 31, 2019.