Crinetics reports Q4 net loss of $60.1M; announces $350M private placement; paltusotine NDA on track for 2H 2024

Crinetics Pharmaceuticals, Inc.

2023-FY EPS reported -$3.69 revenue$4,013,000

Net loss for Q4 2023 was $60.1M vs $45.0M in Q4 2022; full-year net loss $214.5M vs $163.9M in 2022.
Cash, equivalents, and investments totaled $558.6M as of Dec 31, 2023; $350M private placement extends runway into 2028.
Phase 3 PATHFNDR-2 topline results for paltusotine in acromegaly expected March 2024; NDA submission planned 2H 2024.
Phase 2 paltusotine in carcinoid syndrome full topline results expected 1H 2024; initial data from 27 patients reported Dec 2023.
R&D expenses rose to $168.5M for FY2023 from $130.2M in FY2022, driven by higher personnel and outside services costs.

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 fourth quarter and full year ended December 31, 2023 results: revenue $4.0 million, net income net loss of $214.5 million.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $4.0 million
Net income: net loss of $214.5 million
Result: reported results

Exact text from the filing

ended December 31, 2022 and $1.0 million for the year ended December 31, 2022. This loss was derived from the company’s investment in Radionetics Oncology, Inc. • Revenues were $4.0 million for the full year ended December 31, 2023, compared to $4.7 million for the same period in 2022. There were no revenues for the three months ended December 31, 2023, compared to

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Source: SEC EDGAR

accession 0000950170-24-022068

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