Crinetics Q1 net loss $46M; paltusotine Phase 3 PATHFNDR-1 data on track for Q3 2023

Crinetics Pharmaceuticals, Inc.

2023-Q1 EPS reported -$0.85 revenue$2,679,000

Net loss $46.0M for Q1 2023 vs $34.6M in Q1 2022; R&D expenses $38.5M, G&A $12.2M.
Paltusotine PATHFNDR-1 (acromegaly) enrollment complete; topline data expected Q3 2023.
PATHFNDR-2 enrollment target increased to up to 98; topline data expected Q1 2024.
Phase 2 open-label study of paltusotine in carcinoid syndrome; preliminary data expected Q4 2023.
CRN04777 Phase 2 study for congenital hyperinsulinism on clinical hold; additional info to be submitted to FDA.

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 0.9

Crinetics Pharmaceuticals, Inc. reported the first quarter ended March 31, 2023 results: revenue $2.7 million, net income Net loss of $46.0 million.

Period: the first quarter ended March 31, 2023
Revenue: $2.7 million
Net income: Net loss of $46.0 million
Result: reported results

Exact text from the filing

for the three months ended March 31, 2023, compared to $8.7 million for the same period in 2022. The increase was primarily attributable to an increase in personnel costs of $2.7 million and an increase in other corporate expenditures of $0.8 million. • Net loss for the three months ended March 31, 2023 was $46.0 million, compared to a net loss of $34.6 million

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Crinetics Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-017919

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