other material
confidence high
sentiment neutral
materiality 0.75
Crinetics prices $350M common stock offering at $45.95/share to fund PALSONIFY launch
Crinetics Pharmaceuticals, Inc.
- Pricing: 7,620,000 shares at $45.95/share; gross proceeds ~$350M.
- Underwriters granted 30-day option to buy up to 1,143,000 additional shares.
- Net proceeds expected ~$330.2M, or ~$379.8M if option exercised.
- Proceeds to fund commercial launch of PALSONIFY, R&D, and general corporate purposes.
- Offering expected to close January 8, 2026.