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Crinetics Pharmaceuticals (CRNX)
NASDAQ:CRNX
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Earnings Data
Report Date
Mar 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.89Last Year’s EPS
-$0.9Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -5.80%
|Next Earnings Date:Mar 18, 2025
Earnings Call Sentiment|Positive
The earnings call presented several positive developments including the NDA submission for paltusotine, a strong financial position post-equity offering, and advancements in their drug pipeline and global expansion. However, the financial results showed increased expenses and a higher net loss with no current revenue. Despite these financial challenges, the strategic advancements and promising pipeline provide an optimistic outlook.Company Guidance
During Crinetics Pharmaceuticals' earnings call for Q3 2024, the company provided substantial guidance on its strategic priorities and upcoming milestones. They announced the submission of their first NDA for paltusotine, targeting acromegaly, with FDA filing notification expected in December and anticipated launch next fall. Crinetics is also building commercial capabilities and preparing for paltusotine's U.S. launch while engaging with payers and key opinion leaders. On a global scale, they plan to submit an MAA in Europe in the first half of 2025. Additionally, Crinetics is advancing their pipeline with the initiation of Phase III trials for carcinoid syndrome and congenital adrenal hyperplasia, alongside IND-enabling studies for new candidates like their TSH antagonist for Graves' disease. Financially, the company ended Q3 with $863 million in cash and investments, bolstered by a $575 million public offering, positioning them to fund operations into 2029. Crinetics anticipates increased R&D and SG&A expenses as they accelerate clinical trials and prepare for potential product launches.NDA Submission for Paltusotine
Crinetics submitted its first NDA for paltusotine for the treatment and long-term maintenance of acromegaly, with FDA filing notification expected in December.
Strong Financial Position
Crinetics ended Q3 2024 with approximately $863 million in cash and investments, bolstered by a $575 million equity offering, resulting in $1.4 billion on a pro forma basis.
Development of Nonpeptide Drug Conjugates (NDCs)
Introduction of CRN09682, a first NDC candidate, designed to selectively target and kill tumor cells with promising preclinical results.
Advancement in Atumelnant Programs
Progress in atumelnant for congenital adrenal hyperplasia and Cushing's disease, with Phase III studies anticipated for 2025.
Global Expansion Initiatives
Establishing operations in Europe, including hiring a General Manager in Switzerland, and preparing for the commercialization of paltusotine in Europe.
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CRNX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CRNX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $58.78 | $58.92 | +0.24% |
| Aug 08, 2024 | $50.74 | $47.64 | -6.11% |
| May 09, 2024 | $49.42 | $48.00 | -2.87% |
| Feb 28, 2024 | $42.76 | $40.94 | -4.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Crinetics Pharmaceuticals (CRNX) report earnings?
Crinetics Pharmaceuticals (CRNX) is schdueled to report earning on Mar 18, 2025, TBA Not Confirmed.
What is Crinetics Pharmaceuticals (CRNX) earnings time?
Crinetics Pharmaceuticals (CRNX) earnings time is at Mar 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CRNX EPS forecast?
CRNX EPS forecast for the fiscal quarter 2024 (Q4) is -$0.89.
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