Crinetics Q3 net loss widens to $41.9M; paltusotine Phase 3 on track for Q3 2023 topline

Crinetics Pharmaceuticals, Inc.

2022-Q3 EPS reported -$2.32 revenue$4,028,000

Net loss $41.9M in Q3 2022 vs $27.9M in Q3 2021; R&D spend rose to $32.0M from $21.6M.
Cash and investments $368.4M as of Sep 30, 2022, up from $333.7M at Dec 31, 2021.
Phase 3 PATHFNDR-1 for paltusotine in acromegaly fully enrolled; topline data expected Q3 2023.
Long-term extension data: paltusotine maintained IGF-1 comparable to injected SRLs for up to 103 weeks; 89% preferred paltusotine.
Appointed Dana Pizzuti, M.D. as chief development officer.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Crinetics Pharmaceuticals, Inc. reported the third quarter ended September 30, 2022 results: revenue $0.5 million, net income $41.9 million.

Period: the third quarter ended September 30, 2022
Revenue: $0.5 million
Net income: $41.9 million
Result: reported results

Exact text from the filing

$3.0 million. • Net loss for the three months ended September 30, 2022, was $41.9 million, compared to a net loss of $27.9 million for the same period in 2021. • Revenues were $0.5 million for the three months ended September 30, 2022, consisting of license revenue recognized from the license agreement entered into with Sanwa Kagaku Kenkyusho Co., Ltd. in February

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Source: SEC EDGAR

accession 0000950170-22-024723

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