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CRNX

Crinetics Pharmaceuticals, Inc.

CRNX

Crinetics Pharmaceuticals, Inc. • NASDAQ
$45.56 ▼ -1.02% (-0.47)
Market Cap $4.32 B
52w High $60.34
52w Low $24.10
Dividend Yield 0%
P/E -10.06
Volume 601.12K
Outstanding Shares 94.89M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $143K ▼ $52.265M ▼ $-130.091M ▼ -90.973K% ▼ $-1.38 ▼ $-129.079M ▼
Q2-2025 $1.031M ▲ $130.143M ▲ $-115.637M ▼ -11.216K% ▲ $-1.23 ▼ $-128.153M ▼
Q1-2025 $361K ▲ $111.766M ▲ $-96.774M ▼ -26.807K% ▼ $-1.04 ▼ $-110.48M ▼
Q4-2024 $0 $94.745M ▲ $-80.595M ▼ 0% $-0.88 ▲ $-93.957M ▼
Q3-2024 $0 $87.797M $-76.828M 0% $-0.96 $-87.027M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.092B ▼ $1.196B ▼ $123.862M ▲ $1.072B ▼
Q2-2025 $1.196B ▼ $1.29B ▼ $118.048M ▲ $1.172B ▼
Q1-2025 $1.274B ▼ $1.361B ▼ $107.327M ▼ $1.254B ▼
Q4-2024 $1.354B ▲ $1.435B ▲ $109.787M ▲ $1.325B ▲
Q3-2024 $862.668M $937.374M $104.394M $832.98M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-130.091M ▼ $-110.718M ▼ $164.809M ▲ $3.084M ▼ $57.175M ▲ $-111.581M ▼
Q2-2025 $-115.637M ▼ $-85.851M ▲ $37.953M ▲ $7.055M ▲ $-40.843M ▲ $-89.053M ▲
Q1-2025 $-96.774M ▼ $-88.452M ▼ $-85.961M ▲ $4.437M ▼ $-169.976M ▼ $-89.691M ▼
Q4-2024 $-80.595M ▼ $-64.674M ▼ $-542.088M ▼ $554.038M ▲ $-52.724M ▼ $-65.703M ▼
Q3-2024 $-76.828M $-60.796M $20.603M $55.3M $15.107M $-61.324M

Five-Year Company Overview

Income Statement

Income Statement Crinetics is still in the classic “pre-commercial biotech” phase financially. Over the past several years it has reported essentially no product revenue, while research, development, and supporting costs have steadily increased. Losses have grown as the company has scaled up clinical trials and infrastructure, which is typical for a company building toward multiple late-stage programs and an initial product launch. The income statement today is about investing heavily in future products rather than generating current profits, and the path to a more balanced picture depends on how successfully and how quickly the newly approved and late‑stage programs ramp up sales.

Balance Sheet

Balance Sheet The balance sheet has strengthened over time. Total assets and shareholder equity have grown severalfold, driven mainly by fresh capital rather than by retained earnings. Cash levels, which were modest a few years ago, have recently increased significantly, suggesting the company has taken steps to extend its financial runway. Debt remains very low, so the business is financed primarily through equity instead of borrowing. Overall, this points to a relatively clean, well-capitalized balance sheet for a clinical‑stage biotech, but one that still depends on outside funding until product revenues develop.

Cash Flow

Cash Flow Cash flow reflects a research‑driven company that is spending more cash than it brings in. Operating cash outflows have steadily risen as R&D and early commercial preparation ramp up, and free cash flow is similarly negative because the business is not yet generating operating cash and has minimal spending on physical assets. Crinetics appears asset‑light, with most cash going directly into scientific programs and trials rather than buildings or equipment. This pattern is normal for its stage, but it means the company will continue relying on its cash reserves and potential future financings until product sales become meaningful.

Competitive Edge

Competitive Edge Crinetics is carving out a focused position in rare endocrine diseases and hormone‑related tumors, aiming to shift patients from injectable drugs to convenient oral therapies. Its main edge lies in deep expertise in hormone receptors (GPCR biology) and the ability to design highly selective, oral small molecules. The lead drug, an oral treatment for acromegaly, challenges long‑standing injectable therapies from large pharma players, offering a compelling convenience upgrade. The company also targets other niche but important conditions like carcinoid syndrome, congenital adrenal hyperplasia, and Cushing’s disease, where treatment options are limited and patient need is high. However, it faces competition from established giants and from other innovators (for example in CAH), as well as the usual biotech risks around trial outcomes, regulatory decisions, pricing, and adoption. Its moat rests on scientific specialization, first‑mover advantage in oral options, and a wholly owned pipeline, but it is still early in proving that this advantage will translate into durable commercial strength.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of Crinetics’ story. The company is built around in‑house discovery capabilities in GPCR biology and medicinal chemistry, allowing it to repeatedly design new, highly targeted oral drugs for hormone‑driven diseases. Beyond its flagship acromegaly drug, it is advancing a broad pipeline, including a first‑in‑class ACTH receptor blocker for adrenal disorders and Cushing’s disease, and a novel platform (its NDC technology) to deliver toxic payloads directly to certain tumors. Early programs extend into thyroid disease, kidney disease, parathyroid disorders, and even metabolic conditions like diabetes and obesity. This breadth gives multiple potential paths to future growth but also requires sustained high R&D spending and carries substantial clinical risk: not all programs will succeed, timelines can slip, and safety or efficacy issues can emerge in late stages.

Summary

Crinetics is a classic high‑innovation, high‑uncertainty biotech story. Financially, it remains pre‑revenue with growing losses and negative cash flow as it invests heavily in research and clinical development, though its balance sheet looks relatively strong and mostly equity‑funded after recent capital raises. Strategically, it is well positioned as a specialist in oral treatments for rare endocrine disorders, aiming to replace uncomfortable injections with once‑daily pills. Its scientific platform, newly approved product, and diversified pipeline offer meaningful long‑term opportunity if clinical and commercial milestones are met. At the same time, the company is still in the early stages of commercialization, depends on future trial and market success, and will likely continue to consume cash until product uptake becomes substantial. The overall picture is of a science‑driven company with a strengthened financial base, meaningful upside potential, and the typical development, regulatory, and funding risks of an emerging biotech.

NEWS

November 20, 2025 · 4:05 PM UTC

Crinetics Announces First Patient Randomized in Pivotal Phase 3 CAREFNDR Trial Evaluating Paltusotine in Carcinoid Syndrome

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November 10, 2025 · 4:28 PM UTC

Crinetics Pharmaceuticals Announces November 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 6, 2025 · 4:05 PM UTC

Crinetics Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Business Update

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October 23, 2025 · 8:00 AM UTC

Crinetics to Highlight Neuroendocrine Tumor Research Progress at the 2025 North American Neuroendocrine Tumor Society Annual Meeting

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October 10, 2025 · 4:41 PM UTC

Crinetics Pharmaceuticals Announces October 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Read more