•
Dec 31, 2021
Crinetics Q4 2021 Earnings Report
Crinetics reported financial results, highlighting pipeline advancements and strategic collaborations.
Key Takeaways
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.
Reported positive proof-of-concept data from two Phase 1 programs of CRN04777 and CRN04894.
Initiated Phase 3 PATHFNDR program evaluating paltusotine in acromegaly.
Co-founded Radionetics Oncology with 5AM Ventures and Frazier Healthcare Partners.
Strengthened balance sheet with successful common stock offerings.