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 (CRNX) is a clinical-stage biopharmaceutical company pioneering oral therapies for endocrine disorders and related tumors. This news hub provides investors and industry professionals with timely updates on clinical trial progress, regulatory milestones, and corporate developments.
Access official press releases, financial reports, and scientific updates related to CRNX's lead candidates: paltusotine for acromegaly/carcinoid syndrome and atumelnant targeting adrenal disorders. Our curated news collection enables efficient tracking of therapeutic innovations in rare diseases, partnership announcements, and market-moving events.
Content spans clinical data publications, FDA communications, executive leadership updates, and research collaborations. Bookmark this page for direct access to primary-source information about CRNX's novel small molecule therapies and their development pathways.
Crinetics Pharmaceuticals (Nasdaq: CRNX) has appointed Jeff E. Knight as Chief Operating Officer. Knight will oversee strategic management of the company’s operations, leveraging his extensive experience in pharmaceutical portfolio strategy and operations. He previously held roles at Poseida Therapeutics and Amgen. The company is experiencing growth, with ongoing clinical studies for its lead product candidate, paltusotine, and an increase in staff to support its expanding clinical and commercial operations.
Crinetics Pharmaceuticals (CRNX) reported a net loss of $26.1 million for Q2 2021, up from $16.5 million in the same period last year. R&D expenses increased by 63% to $20.5 million due to personnel costs and clinical activities. Positive results were shared from Phase 1 studies of CRN04894, demonstrating significant cortisol suppression, while dosing for the Phase 3 PATHFNDR-1 trial of paltusotine has commenced. The company raised $90 million through stock offerings to strengthen its financial position, with total cash reserves at $203.8 million as of June 30, 2021.
Crinetics Pharmaceuticals (CRNX) has announced promising preliminary results from its Phase 1 study of CRN04894, a first-in-class ACTH antagonist aimed at treating conditions of ACTH excess such as Cushing’s disease. The study demonstrated pharmacologic proof-of-concept, revealing a dose-dependent reduction in cortisol levels among 39 healthy volunteers. CRN04894 effectively suppressed cortisol by 25-56% following ACTH challenges, indicating strong receptor binding. The drug was well tolerated, with mild adverse events reported. A further conference call is scheduled to discuss these results.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced a private placement of 851,306 shares at $17.62 per share with Frazier Healthcare Partners, generating gross proceeds of $15.0 million. The closing is anticipated on August 2, 2021, pending customary conditions. The funds will support the development of paltusotine and other research programs. Crinetics intends to register the resale of the shares with the SEC. The company specializes in therapeutics for rare endocrine diseases and is advancing multiple investigational drug candidates.
Crinetics Pharmaceuticals (CRNX) announced the randomization of its first acromegaly patient in the Phase 3 clinical trial of paltusotine, known as PATHFNDR-1. This trial aims to evaluate the safety and efficacy of this once-daily oral treatment compared to placebo in patients already controlled by injectable therapies. Successful results could support paltusotine's market registration in the U.S. and Europe. Topline data is anticipated in 2023, marking a significant step toward offering an innovative treatment option for acromegaly patients.
Crinetics Pharmaceuticals (Nasdaq: CRNX) has appointed Garlan Adams as the new General Counsel, a role created to enhance the company’s legal strategies in rare endocrine diseases. Adams brings over two decades of experience in intellectual property and regulatory compliance. CEO Scott Struthers expressed confidence in her ability to support the development of paltusotine for acromegaly. Crinetics is advancing its pipeline, which includes therapies for various endocrine-related conditions.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced its Q1 2021 financial results and clinical updates. The company has initiated the Phase 3 PATHFNDR program for paltusotine in acromegaly, with studies designed to secure FDA approval for various patient groups. Additionally, CRN04894 and CRN04777 entered Phase 1 trials. Financially, R&D expenses rose to $17.6 million, and net loss increased to $22.9 million for the quarter. Following a successful stock offering in April, the company has $150.7 million in cash, aiming for a steady flow of clinical developments through the remainder of the year.
Crinetics Pharmaceuticals (Nasdaq: CRNX) has successfully completed its underwritten follow-on offering of 4,562,044 shares at $16.44 per share, generating approximately $75 million in gross proceeds. Notable investors included Deep Track Capital and Bain Capital Life Sciences. The funds will support the development of paltusotine and other R&D programs, alongside general corporate purposes. The offering was executed under a shelf registration statement previously filed with the SEC.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced a public offering of 4,562,044 shares at $16.44 each, aiming to raise approximately $75 million. The funds will support the development of their lead product, paltusotine, as well as other R&D initiatives and general corporate needs. The offering is set to close around April 12, 2021, contingent on standard closing conditions. SVB Leerink is the sole bookrunning manager. The shares are being sold under a previously filed shelf registration statement with the SEC.
Crinetics Pharmaceuticals (Nasdaq: CRNX) announced its 2021 plans, advancing paltusotine into Phase 3 trials for acromegaly after successful Phase 2 results. The company aims to initiate PATHFNDR-1 and PATHFNDR-2 studies to evaluate paltusotine's efficacy against standard care. Additionally, CRN04894 and CRN04777 have entered Phase 1 trials, targeting Cushing’s disease and congenital hyperinsulinism, respectively. Financially, Crinetics reported a net loss of $73.8 million for 2020, up from $50.4 million in 2019, with significant R&D expenses of $57 million. The firm held $170.9 million in cash at year-end.
