secwatch.observer — SEC 8-K summary
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Issuer:     Crinetics Pharmaceuticals, Inc. (CRNX)
CIK:        0001658247
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0000950170-23-039338
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crinetics Q2 net loss $51M; suspends CRN04777; paltusotine Phase 3 data due Sept 2023
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- Net loss $51.0M on revenue $1.0M (vs. $42.4M loss on $0.4M revenue in Q2 2022).
- Cash, equivalents, investments $264.5M as of June 30, 2023 (down from $334.4M at Dec 31, 2022).
- Phase 3 PATHFNDR-1 paltusotine topline data expected September 2023; PATHFNDR-2 enrollment complete, data in Q1 2024.
- CRN04777 development suspended after nonclinical findings eroded anticipated therapeutic margins; not related to other candidates.
- Paltusotine NDA submission anticipated in 2024 pending successful PATHFNDR data.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1658247/000095017023039338/0000950170-23-039338-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1658247/000095017023039338/crnx-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-039338

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer