Crinetics Pharmaceuticals, Inc.

Listed Company

CRNXCIK 0001658247NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.70M

Net Income

$-465.32M

Total Assets

$1.13B

Equity

$992.08M

Shares Out

104.71M

Op. Cash Flow

$-377.92M

Business

Crinetics Pharmaceuticals, Inc. is a clinical-stage company that discovers, develops and commercializes novel therapeutics for endocrine diseases and endocrine-related tumors. Its pipeline centers on oral nonpeptide small molecules that modulate peptide GPCRs, led by paltusotine for acromegaly and carcinoid syndrome and atumelnant for congenital adrenal hyperplasia and ACTH‑dependent Cushing’s, with additional preclinical programs targeting endocrine receptors. Its operations cover discovery through clinical development and selective collaborations, including a stake in Radionetics Oncology. The company advances global clinical programs and pursues approvals in the U.S., Europe and other markets via CROs, contract manufacturers, specialty distributors and license partners.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue, net	8	1	4	0	0
Cost of product revenue	1	0	0	—	—
Research and development	332	240	169	130	84
Selling, general and administrative	191	100	58	—	—
Total operating expenses	524	340	227	—	—
Loss from operations	−517	−339	−223	−168	−108
Interest income	52	41	13	4	157,000
Other expense, net	−357,000	−519,000	−159,000	—	—
Total other income, net	52	41	13	5	61,000
Loss before income taxes	−465	−298	−209	—	—
Income tax expense	180,000	0	0	—	—
Loss before equity method investment	−465	−298	−209	—	—
Loss on equity method investment	0	−470,000	−5	—	—
Net loss	−465	−298	−215	−164	−108
Net loss per share - basic (in dollar per share)	−4.95	−3.69	−3.69	−3.15	−2.8
Net loss per share - diluted (in dollar per share)	−4.95	−3.69	−3.69	−3.15	−2.8
Weighted average shares - basic (in shares)	94	81	58	52	38
Weighted average shares - diluted (in shares)	94	81	58	52	38
Unrealized gain (loss) on investment securities	1	−14,000	5	−4	−407,000
Unrealized loss on foreign currency	−172,000	0	0	—	—
Total other comprehensive income (loss)	902,000	−14,000	5	—	—
Comprehensive loss	−464	−298	−210	−167	−108

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	102	265	55	33	201
Restricted cash	0	500,000	—	—	—
Investment securities, amortized cost of $924,317 at December 31, 2025 and $1,088,561 at December 31, 2024	926	1,090	504	302	133
Trade accounts receivable, net	592,000	0	—	—	—
Inventory	2	0	—	—	—
Prepaid expenses and other current assets	18	21	16	11	11
Total current assets	1,048	1,375	574	345	345
Property and equipment, net	14	12	11	4	3
Operating lease right-of-use assets	40	44	47	1	2
Restricted cash, net of current portion	800,000	800,000	1	1	500,000
Prepaid expenses and other assets, net of current portion	22	3	—	—	—
Total assets	1,126	1,435	635	352	351
Accounts payable and accrued expenses	42	21	23	15	8
Accrued compensation and related expenses	36	29	15	9	7
Deferred revenue	1	2	—	—	—
Operating lease liabilities	6	7	4	1	—
Total current liabilities	85	60	44	28	16
Operating lease liabilities, non-current	42	45	48	2	3
Deferred revenue, non-current	4	5	—	—	—
Other non-current liabilities	3	829,000	0	—	—
Total liabilities	134	110	96	36	19
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.001 par; 10,000 shares authorized, no shares issued or outstanding at December 31, 2025 or 2024	0	0	0	0	0
Common stock and paid-in capital, $0.001 par; 200,000 shares authorized, 92,926 shares issued and outstanding at December 31, 2025; 68,175 shares issued and outstanding at December 31, 2024	2,408	2,276	1,192	759	608
Accumulated other comprehensive income	2	963,000	977,000	−4	−382,000
Accumulated deficit	−1,400	−952	−654	−439	−275
Stock held in trust	−112,000	0	—	—	—
Total stockholders equity	992	1,325	539	316	332
Total liabilities and stockholders equity	1,126	1,435	635	352	351

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	91	69	41	28	17
Depreciation and amortization	4	3	1	983,000	922,000
Noncash lease expense	3	3	1	—	—
Accretion of purchase discounts and amortization of premiums on investment securities, net	−15	−15	−6	34,000	422,000
Accretion of purchase discounts and amortization of premiums on investment securities, net	0	0	−2	0	−1
Loss on equity method investment	0	470,000	5	—	—
Loss on disposal of property and equipment	50,000	51,000	6,000	0	0
Trade accounts receivable	−592,000	0	0	—	—
Inventory	−2	0	0	—	—
Prepaid expenses and other assets	−17	−6	−5	215,000	−4
Accounts payable and accrued expenses, compensation and related expenses, and other non-current liabilities	29	13	12	11	6
Deferred revenue	−2	74,000	−2	—	—
Operating lease liabilities	−3	−6,000	−546,000	—	—
Net cash used in operating activities	−378	−230	−169	−115	−89
Purchases of investment securities	−1,004	−1,147	−528	−330	−125
Purchase of Radionetics preferred stock	0	0	−5	0	0
Maturities and sale of investment securities	1,184	576	337	157	69
Purchases of property and equipment	−6	−4	−5	−2	−436,000
Net cash provided by (used in) investing activities	174	−575	−200	−174	−56
Proceeds from issuance of common stock, net of commissions	0	985	370	117	250
Offering costs related to issuance of common stock	0	−15	−541,000	8	13
Proceeds from exercise of stock options and shares issued under Employee Stock Purchase Plan	41	45	22	—	—
Net cash provided by financing activities	41	1,015	391	122	253
Net change in cash, cash equivalents and restricted cash	−163	210	22	—	—
Exchange rate changes on cash, cash equivalents and restricted cash	−106,000	0	0	—	—
Private company shares received under licensing arrangements	0	0	2	—	—
Exercise of Radionetics Warrant	0	0	668,000	0	0
Stock options exercised receivable	10,000	76,000	166,000	0	0
Receivable for common stock issuances	0	0	87,000	0	0
Accrued financing costs	0	0	26,000	0	0
Stock held in trust	112,000	0	0	—	—
Amounts accrued for purchases of property and equipment	389,000	180,000	872,000	0	130,000
Right-of-use asset obtained in exchange for lease obligations	0	0	46	0	0
Leasehold improvements paid by the lessor	0	0	3	0	0

Filings

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