Crinetics Pharmaceuticals, Inc. CRNX
We are a pharmaceutical company committed to transforming the treatment of endocrine diseases and endocrine-related tumors through science rooted in patient needs. We are focused on discovering, developing, and commercializing novel therapies, with a core expertise in targeting GPCRs with small molecules that have specifically tailored pharmacology and properties.
Our lead product, PALSONIFY (paltusotine), is the first once-daily, oral treatment approved by the FDA for the treatment of adults with acromegaly who had an inadequate response to surgery and/or for whom surgery is not an option. Paltusotine is also in clinical development for CS associated with NETs. Our deep pipeline of 10+ disclosed programs includes late-stage investigational candidate atumelnant, which is currently in development for CAH and ADCS, and CRN09682, a NDC candidate that is being developed to treat SST2 expressing NETs and other SST2 expressing solid tumors. Additional discovery programs address a variety of endocrine conditions such as NETs, Graves' disease (including Graves' hyperthyroidism and Graves' orbitopathy, or TED), polycystic kidney disease, hyperparathyroidism, diabetes, obesity, and GPCR-targeted oncology indications.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Product revenue, net
- Collaboration and license revenue
| Segment | FY2025 |
|---|---|
| Product revenue, net | $5.4M |
| Collaboration and license revenue | $2.3M |
As the company reported it, from the “Segment Reporting - Schedule of Segment Revenue Reconciled to Consolidated Net Loss (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.7M | $1.0M | $4.0M | $4.7M | $1.1M | $71.0K | $1.2M | $2.4M | $2.0M | $589.0K |
| Cost of revenue | $1.1M | $0 | $0 | — | — | — | — | — | — | — |
| Gross profit | $6.6M | $1.0M | $4.0M | — | — | — | — | — | — | — |
| R&D | $332.1M | $240.2M | $168.5M | $130.2M | $84.3M | $57.0M | $41.5M | $24.5M | $9.2M | $5.1M |
| SG&A | $191.3M | $99.7M | $58.1M | $42.4M | $24.5M | $18.0M | $13.5M | $6.7M | $1.9M | $1.5M |
| Total operating expenses | $524.5M | $339.9M | $226.6M | $172.6M | $108.8M | $75.0M | $55.0M | $31.1M | $11.2M | $6.6M |
| Operating income | -$516.8M | -$338.9M | -$222.6M | -$167.9M | -$107.7M | -$75.0M | -$53.8M | -$28.7M | -$9.1M | -$6.0M |
| Interest expense | — | — | — | — | — | — | — | — | $8.0K | $11.0K |
| Pre-tax income | -$465.1M | -$297.9M | -$209.3M | -$163.9M | -$107.6M | -$73.8M | -$50.4M | -$27.1M | -$9.2M | -$6.0M |
| Income tax | $180.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$465.3M | -$298.4M | -$214.5M | -$163.9M | -$107.6M | -$73.8M | -$50.4M | -$27.1M | -$9.2M | -$6.0M |
| EPS, basic | -4.95 | -3.69 | -3.69 | -3.15 | -2.80 | -2.42 | — | — | — | — |
| EPS, diluted | -4.95 | -3.69 | -3.69 | -3.15 | -2.80 | -2.42 | -2.09 | -2.23 | -6.68 | -5.96 |
| Shares, diluted (wtd. avg.) | 94.1M | 80.8M | 58.1M | 52.0M | 38.4M | 30.4M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $101.5M | $264.5M | $54.9M | $34.0M | $201.2M | $93.6M | $40.8M | $45.5M | $14.2M | $12.2M |
| Short-term investments | $926.4M | $1.09B | $503.7M | $301.8M | $133.0M | $77.8M | $78.1M | $118.9M | — | — |
| Receivables | $592.0K | $0 | — | — | — | — | — | — | — | — |
| Inventory | $2.0M | $0 | — | — | — | — | — | — | — | — |
| Total current assets | $1.05B | $1.38B | $574.2M | $345.2M | $344.7M | $177.5M | $123.3M | $166.7M | $15.2M | — |
| Property, plant and equipment | $14.3M | $12.1M | $10.9M | $3.5M | $2.8M | $3.2M | $3.9M | $4.2M | $400.0K | — |
| Total assets | $1.13B | $1.43B | $635.4M | $352.2M | $351.0M | $183.4M | $130.4M | $171.4M | $15.6M | — |
| Accounts payable | $22.6M | $5.9M | $6.5M | $6.9M | $3.4M | $5.6M | $5.5M | $5.3M | $403.0K | — |
| Total current liabilities | $85.1M | $59.7M | $43.9M | $27.7M | $16.0M | $10.5M | $8.3M | $7.9M | $897.0K | — |
| Total liabilities | $134.2M | $109.8M | $96.2M | $35.8M | $19.1M | $14.5M | $13.2M | $11.2M | $920.0K | — |
| Retained earnings | -$1.42B | -$952.1M | -$653.7M | -$439.2M | -$275.3M | -$167.6M | -$93.8M | -$43.4M | -$16.3M | — |
| Total equity | $992.1M | $1.32B | $539.1M | $316.3M | $331.9M | $168.9M | $117.1M | $160.2M | -$15.0M | -$6.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$377.9M | -$230.2M | -$168.6M | -$115.2M | -$88.6M | -$62.0M | -$46.4M | -$19.5M | -$9.5M | -$5.5M |
| Depreciation and amortisation | $3.9M | $2.8M | $1.1M | $1.0M | $900.0K | $900.0K | $900.0K | $500.0K | — | — |
| Stock-based compensation | $91.0M | $69.4M | $40.9M | $28.3M | $17.4M | $10.4M | $6.3M | $2.3M | $271.0K | $270.0K |
| Capital expenditure | $5.8M | $3.8M | $4.7M | $1.7M | $436.0K | $186.0K | $492.0K | $1.1M | $304.0K | $190.0K |
| Investing cash flow | $173.9M | -$574.8M | -$200.4M | -$174.0M | -$56.5M | $217.0K | $41.7M | -$119.5M | -$304.0K | -$190.0K |
| Financing cash flow | $40.6M | $1.01B | $391.2M | $122.0M | $252.7M | $114.6M | $67.0K | $170.2M | $11.8M | -$53.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001658247-26-000030.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $589.0K | $2.0M | $2.4M | $1.2M | $71.0K | $1.1M | $4.7M | $4.0M | $1.0M | $7.7M |
| Gross profit | — | — | — | — | — | — | — | $4.0M | $1.0M | $6.6M |
| Net income | -$6.0M | -$9.2M | -$27.1M | -$50.4M | -$73.8M | -$107.6M | -$163.9M | -$214.5M | -$298.4M | -$465.3M |
Recent filings and events
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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