Crinetics Pharmaceuticals, Inc.
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Range $84 – $85
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About the company
Crinetics Pharmaceuticals, Inc. operates as a clinical-stage pharmaceutical enterprise, dedicated to the identification, advancement, and market introduction of therapeutic solutions for infrequent endocrine conditions and related tumors. Their flagship drug candidate, Paltusotine, is an orally administered, selective, non-peptide somatostatin receptor type 2 agonist.
- CEO
- R. Scott Struthers
- IPO
- 2018
- Employees
- 594
- HQ
- San Diego, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $9.00B
- P/E
- -16.82
- Fwd P/E
- 52.20
- PEG
- 0.83
- P/S
- 213.54
- P/B
- 7.52
- EV/EBITDA
- -17.68
- Div Yield
- 0.00%
- Gross Margin
- 99.16%
- Op Margin
- -1302.52%
- Net Margin
- -1189.88%
- ROE
- -44.22%
- ROIC
- -43.98%
Latest fiscal year · YoY change
- Revenue
- $7.70M+640.7%
- Gross Profit
- $6.62M+537.2%
- Op Income
- $-516,769,000
- Net Income
- $-465,317,000-55.9%
- EPS
- $-4.95-34.1%
- OCF Growth
- -67.2%
- FCF Growth
- -67.0%
- 52W High
- $85.01
- 52W Low
- $32.30
- 50D MA
- $75.83
- 200D MA
- $50.65
- Beta
- 0.13
- RSI (14)
- 90
- Avg Volume
- 4.08M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Crinetics delivered an early commercial win for Palsonify, with first-quarter revenue of $10.7 million and 232 new patient enrollments, while keeping 2026 expense guidance and its long cash runway intact.· May 7, 2026
- Palsonify generated $10.3 million in net product revenue in Q1, and total revenue was $10.7 million including $0.4 million from SKK.
- The launch is gaining traction: the company reported 232 new patient enrollment forms, 263 unique prescribers, and more than 60% coverage.
- Management said about 70% of patients on therapy at quarter-end were reimbursed and reiterated a goal to exceed 75% coverage by the end of Q3 2026.
- Treatment-naive patients rose to 15% of Q1 enrollments, and management said the drug is also bringing some discontinued patients back into care.
- 2026 operating expense guidance was maintained, and the company said cash and investments of $1.3 billion should fund operations into 2030.
Crinetics reported first-quarter 2026 total revenue of $10.7 million, consisting of $10.3 million in net product revenue from Palsonify and $0.4 million from its SKK licensing agreement. Cost of product revenue was $0.2 million. R&D expense was $100.1 million, up from $85.1 million in the fourth quarter, while SG&A was $50.8 million versus $53.7 million in the fourth quarter. The company ended the quarter with $1.3 billion in cash, cash equivalents and investments. For 2026, Crinetics maintained GAAP operating expense guidance of $600 million to $650 million and non-GAAP operating expense guidance of $480 million to $520 million. Management said existing cash and investments should fund operations into 2030.
Scott Struthers framed the quarter as another strong execution period and emphasized that Palsonify is being positioned as a new standard of care in acromegaly. He highlighted 232 additional patient enrollments, continued positive feedback from patients and physicians, and advancing global milestones including EU approval, a Japan filing by SKK, and a Brazil filing. His tone was upbeat and confident, with repeated emphasis on a broad launch strategy, a deep pipeline, and a well-capitalized balance sheet.
Tobin Schilke focused on the financial balance between launch investment and pipeline development. He said Q1 revenue was $10.7 million, R&D was $100.1 million, SG&A was $50.8 million, and cost of product revenue was $0.2 million, with only 0 cost inventory distributed so far. He reiterated 2026 operating expense guidance of $600 million to $650 million on a GAAP basis and $480 million to $520 million non-GAAP, and said the $1.3 billion cash position provides runway into 2030. He also noted that prior authorization and appeals processes are improving and that the company is pacing international investment carefully.
Analysts focused heavily on Palsonify launch metrics, including the mix of treatment-naive versus switching patients, reimbursement conversion, prescriber depth, and whether Q2 could outpace Q1. Management said 15% of Q1 enrollments were treatment-naive, about 70% of patients on therapy were reimbursed, and some patients are coming back to treatment after discontinuing prior therapies. Questions also probed the timing and scope of atumelnant and 9682 data; management declined to give specific timelines but said enrollment and enthusiasm are high, safety remains favorable, and the company will share data as studies mature.
The call suggested Palsonify is off to a solid commercial start, with growing prescriber breadth, improving reimbursement, and signs that the drug is reaching beyond early adopters into both naive and switched patients. Management also pointed to a strong balance sheet, multiple advancing clinical programs, and international regulatory progress that could broaden the opportunity set.
Management repeatedly said it is still early in the launch and declined to quantify several important metrics, including form-to-paid conversion and detailed timing for future data readouts. Revenue is still small relative to expense base, and R&D spending remains high as multiple Phase III and Phase II/III studies ramp, so the company is still depending on future commercial uptake and pipeline execution to justify the current investment level.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 93.8%
- Shares Outstanding
- 105.97M
- Float Shares
- 99.41M
of shares held by institutions
250 13F filers
Buy/sell ratio 0.05. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for CRNX, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Gilbert Ray CisnerosHouse · CA31 | Sell | Jul 30, 26 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Buy | Mar 3, 26 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Buy | Apr 17, 25 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Sell | Mar 19, 25 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Buy | Jan 29, 25 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Buy | Sep 25, 24 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Fmr LLC | 15.84M | ▲ 80.42K |
| Blackrock, Inc. | 9.76M | ▲ 1.28M |
| Vanguard Group Inc | 9.14M | ▼ 34.63K |
| Farallon Capital Management LLC | 8.99M | ▲ 651.00K |
| Wellington Management Group Llp | 7.13M | ▼ 1.03M |
| Driehaus Capital Management LLC | 6.46M | ▲ 67.63K |
| Price T Rowe Associates Inc | 6.21M | ▲ 857.18K |
| Vanguard Portfolio Management LLC | 4.83M | ▲ 194.10K |
| Vanguard Capital Management LLC | 4.75M | ▲ 71.33K |
| Jupiter Topco LLC | 4.56M | ▲ 4.56M |
| Janus Henderson Group Ltd. | 4.52M | ▲ 79.56K |
| Geode Capital Management, LLC | 2.73M | ▲ 246.87K |
Held by 149 ETFs
Biggest fund positions in CRNX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 1, 26 | WIERENGA WENDELL | sell | 116,146 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 5,925 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 12,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 12,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 17,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 17,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 17,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 12,500 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 10,350 |
| Sep 1, 26 | WIERENGA WENDELL | sell | 9,730 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CRNX coverage
Recent articles, reports, and earnings notes.
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Financial Comparison: Crinetics Pharmaceuticals (NASDAQ:CRNX) and Lyra Therapeutics (OTCMKTS:LYRA)
defenseworld.net · Sep 21
Which Healthcare ETF Is the Better Buy: Fidelity's Broad FHLC or State Street's Pharma-Focused XPH?
fool.com · Sep 10
Vertex Completes Acquisition of Crinetics Pharmaceuticals and Announces Expansion of Executive Leadership Team
businesswire.com · Sep 1
BlackRock Inc. Purchases New Position in Crinetics Pharmaceuticals, Inc. $CRNX
defenseworld.net · Aug 26
AWM Investment Company Inc. Invests $3.18 Million in Crinetics Pharmaceuticals, Inc. $CRNX
defenseworld.net · Aug 26
Deutsche Bank AG Invests $10.62 Million in Crinetics Pharmaceuticals, Inc. $CRNX
defenseworld.net · Aug 24
Are DSGR, HLX, ATAI, CRNX Obtaining Fair Deals for their Shareholders?
gurufocus.com · Aug 17
Are DSGR, HLX, ATAI, CRNX Obtaining Fair Deals for their Shareholders?
prnewswire.com · Aug 17
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