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Crinetics completes $10B acquisition by Vertex at $85/share
Merger completed Sept 1, 2026; Crinetics shareholders receive $85.00 per share cash.
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Crinetics shareholders approve Vertex merger; closing expected Sept 1, 2026
Merger adoption approved: 79,240,098 for, 13,618 against, 10,915 abstain.
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Crinetics supplements proxy disclosures amid shareholder lawsuits over Vertex merger
Three shareholder lawsuits filed Aug 6 & 17, 2026 in NY and CA allege misleading proxy disclosures; seek to block merger.
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Crinetics-Vertex merger clears HSR and key antitrust hurdles; close expected early Sept
HSR waiting period expired Aug 12, 2026 at 12:45 p.m. ET.
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Vertex to acquire Crinetics for $85/share (~$10B equity value); Q2 PALSONIFY revenue $24M
Vertex to acquire Crinetics for $85.00 per share cash, total equity value ~$10.0B (~$8.8B net of cash).
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Crinetics enters into merger agreement with Vertex Pharmaceuticals
Merger agreement signed July 6, 2026; Crinetics to become wholly owned subsidiary of Vertex.
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Vertex to acquire Crinetics for $85/share, ~$10B equity value, adding PALSONIFY and atumelnant
Vertex to acquire Crinetics for $85.00 per share in cash, total equity value ~$10.0B (~$8.8B net of cash).
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Crinetics Q1 2026: PALSONIFY net revenue $10.3M; EU approval; net loss $127.8M
PALSONIFY net product revenue $10.3M in Q1 2026, up from $5.4M in Q4 2025; 232 enrollment forms received.
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Crinetics' Chief Development and Operating Officer resigns effective April 10, 2026
Jeff Knight resigns as Chief Development and Operating Officer, effective April 10, 2026.
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Crinetics Q4 2025: Palsonify launch revenue $5.4M, net loss $122.8M; EU CHMP positive opinion
PALSONIFY net product revenue $5.4M in Q4 2025; >200 enrollment forms by Dec end; 125+ HCPs prescribed in Q4.
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Crinetics reiterates preliminary Q4 2025 PALSONIFY net product revenue over $5.0M
Net product revenue from PALSONIFY (paltusotine) exceeds $5.0M for Q4 2025.
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Crinetics prices $350M common stock offering at $45.95/share to fund PALSONIFY launch
Pricing: 7,620,000 shares at $45.95/share; gross proceeds ~$350M.
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Crinetics PALSONIFY Q4 net revenue >$5M; atumelnant Phase 2 CAH shows 67% A4 reduction
Unaudited Q4 2025 PALSONIFY net product revenue exceeded $5.0M, with >200 enrollment forms and >125 unique prescribers.
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Crinetics CMO Dana Pizzuti steps down; transitions to advisor roles with $577k severance
Dr. Dana Pizzuti steps down as CMO effective Dec 31, 2025; serves as Strategic Regulatory and Development Advisor through Mar 31, 2026.
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Crinetics Q3 net loss $130.1M; PALSONIFY launched for acromegaly after FDA approval
PALSONIFY (paltusotine) approved by FDA Sept 25 for first-line acromegaly; ~95% of top-priority HCP targets called, ~50% of filled prescriptions reimbursed.
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Crinetics gets FDA approval for PALSONIFY (paltusotine) as first oral acromegaly treatment
FDA approved PALSONIFY (paltusotine) for adults with acromegaly with inadequate response to surgery or not surgical candidates.
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Crinetics reports Q2 net loss $115.6M; PDUFA for paltusotine on Sept 25, 2025
Revenue $1.0M (vs $0.4M in Q2 2024); net loss widened to $115.6M from $74.1M YoY.
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Crinetics R&D Day updates preclinical pipeline: TSHR antagonist, SST3 agonist, NDC platform
CRN12755 (TSHR antagonist) decreased thyroid hormone (T4) in rat model and hyaluronic acid/IL-6 in TED patient orbital fibroblasts.
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Crinetics reports FY2024 net loss $298.4M; cash $1.4B; paltusotine PDUFA Sept 25, 2025
Net loss Q4 2024: $80.6M vs $60.1M YoY; full year $298.4M vs $214.5M.
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Crinetics appoints Tobin Schilke as CFO effective Feb 28, 2025
Tobin Schilke appointed CFO effective February 28, 2025, succeeding Marc Wilson.
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Crinetics outlines 2025 milestones: paltusotine PDUFA Sept 25, atumelnant Ph3 start H1 2025
Paltusotine NDA under FDA review; PDUFA target action date set for September 25, 2025.
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Crinetics' atumelnant Phase 2 CAH trial meets primary endpoint with up to 80% mean A4 reduction
Atumelnant reduced androstenedione up to 80% (120mg, p<0.0001); 80mg dose reduced by 774 ng/dL (p<0.0001).
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Crinetics appoints Isabel Kalofonos as CCO ahead of paltusotine launch
Isabel Kalofonos named Chief Commercial Officer, effective Dec 16, 2024; leads paltusotine (once-daily SST2 agonist for acromegaly) launch prep and pipeline commercialization.
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Crinetics announces FDA acceptance of NDA for paltusotine in acromegaly; PDUFA Sept 25, 2025
FDA accepted Crinetics' NDA for once-daily oral paltusotine for adult acromegaly patients.
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Crinetics reports Q3 net loss $76.8M; submits NDA for paltusotine; raises $575M
Net loss of $76.8M in Q3 2024 vs $57.5M in Q3 2023; revenue $0 vs $0.3M from SKK licensing.
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Crinetics prices upsized $500M public offering at $50/share; net proceeds ~$472M
Pricing of 10,000,000 shares of common stock at $50.00/share for gross proceeds of $500.0 million.
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Crinetics submits NDA to FDA for paltusotine for acromegaly; Phase 3 data support submission
NDA supported by 18 clinical trials including two Phase 3 PATHFNDR studies; all primary and secondary endpoints met.
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Crinetics CCO James Hassard to depart effective October 14, 2024
James Hassard separates as Chief Commercial Officer; last day October 14, 2024.
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Crinetics Q2 net loss $74.1M; CFO Wilson departs; paltusotine NDA on track for H2 2024
Net loss of $74.1M in Q2 2024 vs $51.0M in Q2 2023; R&D expenses rose to $58.3M from $40.6M.
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Crinetics enters ATM equity offering agreement for up to $350M
Filed prospectus supplement registering up to $350M in common stock sales.
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Crinetics posts positive Phase 2 data for atumelnant; paltusotine NDA on track for 2H 2024
Atumelnant: 100% of CAH (n=6) achieved A4 below ULN; 100% of ADCS (n=5) normalized UFC at 80 mg once daily.
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Crinetics Q1 net loss $66.9M; paltusotine NDA on track for 2H 2024
Net loss of $66.9M in Q1 2024 vs $46.0M in Q1 2023; revenue fell to $0.6M from $2.7M.
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Crinetics to present initial atumelnant Phase 2 data in CAH and Cushing's at ENDO 2024
Five abstracts, four late-breaking, to be presented at ENDO 2024 (June 1-4, Boston).
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Crinetics paltusotine meets all endpoints in Phase 3 acromegaly study; NDA planned 2H 2024
Primary endpoint: 56% of paltusotine patients achieved IGF-1 ≤1.0 xULN vs 5% placebo (p<0.0001).
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Crinetics reports positive Phase 2 results for paltusotine in carcinoid syndrome
Phase 2 trial: 63% reduction in mean flushing frequency (p<0.0001) for patients with >1/day at baseline.
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Crinetics raises $350M in oversubscribed private placement of 8.33M shares at $42/sh
Private placement of 8,333,334 common shares at $42.00/share raises ~$350M gross proceeds.
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Crinetics reports Q4 net loss of $60.1M; announces $350M private placement; paltusotine NDA on track for 2H 2024
Net loss for Q4 2023 was $60.1M vs $45.0M in Q4 2022; full-year net loss $214.5M vs $163.9M in 2022.
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Crinetics outlines 2024 milestones: paltusotine Phase 3 data Q1, CRN04894 data Q2
Phase 3 PATHFNDR-2 trial of paltusotine in acromegaly on track for topline data in Q1 2024.