Crinetics Q4 2019 Earnings Report
Key Takeaways
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.
Dosed first patients in Phase 2 clinical trials of paltusotine for acromegaly.
Initiated Phase 1 trial of CRN01941 for neuroendocrine tumors.
Expanded management team and board of directors.
Cash, cash equivalents and investments will fund its current operating plan into the second half of 2021.
Crinetics
Crinetics
Forward Guidance
Crinetics plans to provide guidance on timing of its acromegaly and neuroendocrine tumor programs early in the second quarter and is advancing its ACTH antagonist development candidate for Cushing’s disease and congenital adrenal hyperplasia as well as its sst5 agonist development candidate for congenital hyperinsulinemia towards the clinic as IND enabling activities for both programs are underway