Crinetics reports Q3 EPS (96c), consensus (91c)

“As we approach the end of 2024, it has been yet another remarkable year for Crinetics (CRNX) as we continued to consistently achieve key milestones to advance and expand our pipeline and strengthen the company’s position,” said Scott Struthers, Ph.D., Founder and Chief Executive Officer of Crinetics. “The submission of our first NDA was a significant milestone in the company’s history, and we remain on track for the expected launch of our investigational drug paltusotine for acromegaly in 2025, which will be a pivotal event for the company. The company’s core commitment to internal innovation continues to bear fruit with four new internally discovered drug candidates now in IND enabling activities, including the first candidate from our novel nonpeptide drug conjugate (NDC) targeted therapeutics platform emerging from our laboratories. We are excited to share preclinical data for this candidate intended for the treatment of SST2-expressing tumors at the North American Neuroendocrine Tumor Society (NANETS) in Chicago on November 21-23. Further, subsequent to quarter end, we strengthened our already robust balance sheet by issuing additional equity, allowing us to invest in these promising early-stage programs, while continuing to fully support the anticipated launch of paltusotine and later-stage clinical development efforts.”