Crinetics reports Q3 net loss $76.8M; submits NDA for paltusotine; raises $575M

Crinetics Pharmaceuticals, Inc.

2024-Q3 EPS reported -$2.82 revenue$1,039,000

Net loss of $76.8M in Q3 2024 vs $57.5M in Q3 2023; revenue $0 vs $0.3M from SKK licensing.
NDA submitted for paltusotine (oral somatostatin agonist) for acromegaly; FDA decision expected Dec 2024.
Upsized public offering raised $575M gross; pro-forma cash ~$1.4B, funding operations into 2029.
Four candidates in IND-enabling studies; first NDC platform candidate data at NANETS Nov 2024; TSH antagonist IND expected 2025.
R&D expenses $61.9M (+41% YoY); G&A $25.9M (+67% YoY), driven by pipeline expansion and launch prep.

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