Latest news with #CrineticsPharmaceuticals
Globe and Mail
3 days ago
- Business
- Globe and Mail
Crinetics Pharmaceuticals Announces June 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SAN DIEGO, June 10, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on June 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 74,000 shares of its common stock and granted an aggregate of 48,850 restricted stock unit ('RSU') awards to 20 new non-executive employees, in each case, under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the '2021 Inducement Plan'). The stock options and RSUs were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4). The 2021 Inducement Plan is used exclusively for granting equity awards to individuals who were not previously employees of Crinetics, or following a bona fide period of non-employment, as an inducement material to such individuals' entering into employment with Crinetics, pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $33.08 per share, which is equal to the closing price of Crinetics' common stock on the Nasdaq Global Select Market on June 10, 2025. The shares subject to the stock options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter, subject to each employee's continued employment with Crinetics on such vesting dates. The RSUs will vest over four years in equal annual installments beginning on the one-year anniversary of the applicable vesting commencement date, also subject to each employee's continued employment with Crinetics on such vesting dates. The stock option and RSU awards are subject to the terms and conditions of the 2021 Inducement Plan and the terms and conditions of an applicable stock option award agreement or RSU award agreement covering the respective grant. About Crinetics Pharmaceuticals Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics' lead development candidate, paltusotine, is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing's syndrome. All of the company's drug candidates are orally delivered, small molecule, new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications. Investors: Gayathri Diwakar Head of Investor Relations gdiwakar@ (858) 345-6340
Yahoo
23-05-2025
- Business
- Yahoo
Crinetics Pharmaceuticals to Participate in the Jefferies Global Healthcare Conference 2025
SAN DIEGO, May 23, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), today announced that company management will participate in the Jefferies Global Healthcare Conference, taking place June 3-5, 2025 in New York, NY. Jefferies Global Healthcare Conference 2025Company presentation: Thursday, June 5, 2025 at 12:50 p.m. Eastern TimeWebcast link: HERE The live and archived webcast will be accessible on the Events & Presentations page in the Investors section of the Crinetics' website at If you are interested in arranging a 1x1 meeting with management, please contact your conference representative. ABOUT CRINETICS PHARMACEUTICALS Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics' lead development candidate, paltusotine, is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing's syndrome. All of the company's drug candidates are orally delivered, small molecule, new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications. Investors:Gayathri DiwakarHead of Investor Relationsgdiwakar@ 345-6340 Media: Natalie BadilloHead of Corporate Communications nbadillo@ (858) 345-6075Sign in to access your portfolio
Yahoo
10-05-2025
- Business
- Yahoo
Is Crinetics Pharmaceuticals, Inc. (CRNX) The Best Stock That Will Bounce Back?
We recently compiled a list of the 11 Stocks That Will Bounce Back According To Analysts. In this article, we are going to take a look at where Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) stands against the other stocks that will bounce back. Major US indexes finished in the green on Wednesday, May 7, after a volatile session as investors reacted to updates from the Federal Reserve and new trade developments. The S&P 500 rose by 0.43%, while the tech-heavy Nasdaq added 0.27%. The blue-chip Dow Jones Industrial Average increased by 0.7% READ ALSO: 11 Best Stocks Under $15 to Buy According to Hedge Funds and 10 Most Profitable Cheap Stocks to Buy Now. As anticipated, the Federal Open Market Committee decided to keep its benchmark overnight borrowing rate unchanged in a range between 4.25% to 4.5%, where it has been since December. In its post-meeting statement, the Fed pointed out that the risks of both higher unemployment and higher inflation have risen. The Fed also said that uncertainty about the economic outlook has grown and that it will keep watching new data closely before making any changes. This announcement coincides with growing concerns about a global trade war that could send prices higher. This could make it difficult for the central bank to achieve its goal of bringing inflation down to 2%. During the post-decision press conference, Fed Chair Jerome Powell stated that if the recently announced large increases in tariffs remain in place, they could slow economic growth, push inflation up in the long run, and increase unemployment. Bloomberg reported on Wednesday that the Trump administration aims to end trade restrictions on AI. This helped boost some AI and tech stocks. However, earlier on Wednesday, President Trump told reporters that he is not ready to lower tariffs on China as a condition to start trade talks. This statement by the US President came ahead of meetings set to take place this weekend between US and Chinese officials in Switzerland to discuss trade issues. To compile our list of the 11 stocks that will bounce back according to analysts, we looked for stocks that have lost at least 30% year-to-date as of May 5, 2025. Next, we focused on the top stocks that analysts believe have the most potential for growth. To find stocks that will bounce back, we narrowed down our selection by looking for stocks that analysts believe will gain at least twice as much as they have lost year-to-date. Finally, we ranked the 11 stocks that will bounce back based on their average price target upside potential according to analysts as of May 5, 2025. Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey's Q4 2024 database of more than 1,000 elite hedge funds. Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A doctor and a patient discussing the success of the clinical trial for a new nonpeptide somatostatin receptor agonist. Year-to-Date Performance: -34.72% Average Price Target Upside Potential According to Analysts: 113.97% Number of Hedge Fund Holders: 41 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is a clinical-stage pharmaceutical company that focuses on discovering, developing, and commercializing new therapies for endocrine diseases and endocrine-related tumors. CRNX ranks among stocks that will bounce back according to analysts. The company is actively working to make its therapies accessible worldwide and support its global growth. Paltusotine, which is Crinetics Pharmaceuticals, Inc.'s (NASDAQ:CRNX) lead development candidate, is the first investigational once-daily, oral medicine that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. In March 2025, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) reported that the European Medicines Agency (EMA) validated the Marketing Authorization Application (MAA) for paltusotine for the proposed treatment and long-term maintenance therapy of acromegaly. The application will now be reviewed by the Committee for Medicinal Products for Human Use (CHMP). Previously, the EMA had granted paltusotine Orphan Drug Designation (ODD) for the treatment of acromegaly in February 2025. In the US, the Food and Drug Administration (FDA) has also accepted the New Drug Application (NDA) by Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) for paltusotine, with a decision expected by September 25, 2025. Overall, CRNX ranks 6th on our list of stocks that will bounce back according to analysts. While we acknowledge the potential of CRNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CRNX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
Crinetics Pharmaceuticals to Report First Quarter 2025 Financial Results on May 8, 2025
SAN DIEGO, April 11, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that it will report first quarter 2025 financial results on Thursday, May 8, 2025 after the market closes. Company management will host a conference call at 4:30 p.m. ET to discuss financial results and provide a business update. Conference Call & Webcast Thursday, May 8 @ 4:30 p.m. ET Domestic: 1-833-470-1428 International: 1-404-975-4839 Conference ID: CRNXQ1 Webcast: Participants can use the dial-in numbers above OR access the live webcast via a direct link (HERE) or by visiting the Events section of the Crinetics website. To ensure a timely connection, it is recommended that participants connect at least 15 minutes prior to the scheduled start of the call. The webcast will be archived on the Investor Relations section of About Crinetics Pharmaceuticals Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics' lead development candidate, paltusotine, is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing's syndrome. All of the company's drug candidates are orally delivered, small molecule, new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications. Investors:Gayathri DiwakarHead of Investor Relationsgdiwakar@ (858) 345-6340 Media: Natalie BadilloHead of Corporate Communications nbadillo@ (858) 345-6075
Yahoo
01-03-2025
- Business
- Yahoo
Crinetics Pharmaceuticals (NASDAQ:CRNX) Is In A Good Position To Deliver On Growth Plans
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed. Given this risk, we thought we'd take a look at whether Crinetics Pharmaceuticals (NASDAQ:CRNX) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway. Check out our latest analysis for Crinetics Pharmaceuticals A company's cash runway is calculated by dividing its cash hoard by its cash burn. As at December 2024, Crinetics Pharmaceuticals had cash of US$1.4b and no debt. Importantly, its cash burn was US$230m over the trailing twelve months. So it had a cash runway of about 5.9 years from December 2024. Notably, however, analysts think that Crinetics Pharmaceuticals will break even (at a free cash flow level) before then. In that case, it may never reach the end of its cash runway. Depicted below, you can see how its cash holdings have changed over time. At first glance it's a bit worrying to see that Crinetics Pharmaceuticals actually boosted its cash burn by 34%, year on year. It's even more troubling to see that operating revenue fell 74% during the period. In light of the above-mentioned, we're pretty wary of the trajectory the company seems to be on. While the past is always worth studying, it is the future that matters most of all. So you might want to take a peek at how much the company is expected to grow in the next few years. Even though it seems like Crinetics Pharmaceuticals is developing its business nicely, we still like to consider how easily it could raise more money to accelerate growth. Companies can raise capital through either debt or equity. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn. Crinetics Pharmaceuticals has a market capitalisation of US$3.3b and burnt through US$230m last year, which is 6.9% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan. Even though its falling revenue makes us a little nervous, we are compelled to mention that we thought Crinetics Pharmaceuticals' cash runway was relatively promising. One real positive is that analysts are forecasting that the company will reach breakeven. While we're the kind of investors who are always a bit concerned about the risks involved with cash burning companies, the metrics we have discussed in this article leave us relatively comfortable about Crinetics Pharmaceuticals' situation. An in-depth examination of risks revealed 3 warning signs for Crinetics Pharmaceuticals that readers should think about before committing capital to this stock. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts) Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
