Crinetics Q1 net loss $66.9M; paltusotine NDA on track for 2H 2024

Crinetics Pharmaceuticals, Inc.

2024-Q1 EPS reported -$0.93 revenue$640,000

Net loss of $66.9M in Q1 2024 vs $46.0M in Q1 2023; revenue fell to $0.6M from $2.7M.
Cash, equivalents, and investments total $901.0M as of March 31, 2024, partly from $350M private placement in Feb.
Paltusotine PATHFNDR-2 Phase 3 met primary and all secondary endpoints; NDA submission expected in 2H 2024.
Initial atumelnant Phase 2 results in CAH and Cushing's to be presented at ENDO 2024 (June 1-4).
Plan to initiate paltusotine Phase 3 in carcinoid syndrome by end of 2024 pending FDA discussions.

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, 2024 results: revenue $0.6 million, net income $66.9 million.

Period: the first quarter ended March 31, 2024
Revenue: $0.6 million
Net income: $66.9 million
Result: reported results

Exact text from the filing

of $5.6 million. • Net loss for the three months ended March 31, 2024, was $66.9 million, compared to a net loss of $46.0 million for the same period in 2023. • Revenues were$0.6 million for the three months ended March 31, 2024, compared to $2.7 million for the same period in 2023. Revenues were derived from licensing arrangements for our paltusotine product

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Source: SEC EDGAR

accession 0000950170-24-056977

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