Vertex to acquire Crinetics for $85/share (~$10B equity value); Q2 PALSONIFY revenue $24M

Crinetics Pharmaceuticals, Inc.

Vertex to acquire Crinetics for $85.00 per share cash, total equity value ~$10.0B (~$8.8B net of cash).
Transaction approved by both boards, expected to close Q3 2026 subject to regulatory and stockholder approvals.
Q2 2026 net product revenue from PALSONIFY $24.0M, up from $10.3M in Q1 2026.
Net loss $120.9M for Q2 2026 vs $115.6M in Q2 2025.
Cash and investments $1.2B as of June 30, 2026.

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