GlobeNewswire·Jan 5, 2026, 4:02 PM ET

Crinetics Pharmaceuticals Announces Proposed Public Offering of Common Stock

Crinetics Pharmaceuticals intends to offer $350.0 million of its common stock in a proposed underwritten public offering subject to market & other conditions.
The company plans to grant underwriters a 30-day option to purchase up to an additional $52.5 million of shares.
All shares in the offering will be sold directly by Crinetics.
Net proceeds will fund commercial activities for the PALSONIFY™ launch, research & development, other research programs, & general corporate purposes.
Proceeds may also be used to in-license, acquire, or invest in complementary businesses, technologies, products, or assets, though no current commitments exist.
Leerink Partners, J.P. Morgan, Evercore ISI, Piper Sandler, & Cantor are acting as joint bookrunning managers.
The offering is being made pursuant to a shelf registration statement that became automatically effective upon filing with the SEC.
PALSONIFY™ (paltusotine) is the first once-daily oral treatment approved by the FDA for adults with acromegaly.
The company has a pipeline of 10+ programs including late-stage candidates atumelnant & CRN09682.
Forward-looking statements regarding the offering's structure, timing, size, & completion are included but subject to risks & uncertainties.