Crinetics upsizes public offering to $350M gross; prices 11.44M shares at $30.59

Crinetics Pharmaceuticals, Inc.

Priced upsized offering of 11,441,648 shares at $30.59 per share, expected gross proceeds ~$350M.
Net proceeds expected ~$328.6M; ~$378M if underwriters' 30-day option for 1.72M additional shares is exercised.
Proceeds to fund development of paltusotine, CRN04894, and other R&D programs; closing expected Sept 15, 2023.
Initial announcement on Sept 11 targeted $250M; offering upsized to $350M at pricing on Sept 12.
J.P. Morgan, Morgan Stanley, Leerink, and Piper Sandler act as joint book-running managers.

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