Crinetics reports Q3 net loss of $57.5M; Phase 3 acromegaly study met all endpoints

Crinetics Pharmaceuticals, Inc.

2023-Q3 EPS reported -$2.81 revenue$4,013,000

Phase 3 PATHFNDR-1: 83% paltusotine vs 4% placebo maintained IGF-1 ≤1xULN (p<0.0001); all secondary endpoints met.
Phase 3 PATHFNDR-2 enrollment completed (112 participants); topline data expected Q1 2024.
Initial Phase 2 data for paltusotine in carcinoid syndrome expected December 2023; NDA submission planned for 2024.
Net loss $57.5M vs $41.9M YoY; R&D expenses $43.8M (up $11.8M); G&A $15.5M (up $3.6M).
Cash $554.7M as of Sep 30, 2023; $350M public offering completed; cash runway into 2026.

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 third quarter ended September 30, 2023 results: revenue $0.3 million, net income $57.5 million.

Period: third quarter ended September 30, 2023
Revenue: $0.3 million
Net income: $57.5 million
Result: reported results

Exact text from the filing

$3.2 million. • Net loss for the three months ended September 30, 2023, was $57.5 million, compared to a net loss of $41.9 million for the same period in 2022. • Revenues were $0.3 million for the three months ended September 30, 2023, compared to $0.5 million for the same period in 2022. Revenues in both periods were primarily derived from the paltusotine

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Source: SEC EDGAR

accession 0000950170-23-060219

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