Crinetics Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 08:00 am
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Crinetics Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 41.93 million compared to USD 27.85 million a year ago. Basic loss per share from continuing operations was USD 0.78 compared to USD 0.73 a year ago.
For the nine months, net loss was USD 118.93 million compared to USD 76.85 million a year ago. Basic loss per share from continuing operations was USD 2.32 compared to USD 2.13 a year ago.
Crinetics Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its Paltusotine, an investigational, oral somatostatin receptor type 2 (SST2) agonist, is in Phase 3 clinical development for acromegaly and Phase 2 clinical development for carcinoid syndrome associated with neuroendocrine tumors. It has demonstrated pharmacologic proof-of-concept in a Phase 1 clinical study for CRN04894, an investigational, oral ACTH antagonist, that is in Phase 2 clinical studies for the treatment of congenital adrenal hyperplasia and Cushing's disease. Its drug candidates are orally delivered, small molecule new chemical entities resulting from in-house drug discovery efforts, including other programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease, thyroid eye disease, diabetes and obesity.