Crinetics Pharmaceuticals (CRNX) Announces Proposed Common Share Offering

Crinetics Pharmaceuticals, Inc. (NASDAQ: CRNX) announced today that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. In addition, Crinetics intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares to be sold in the offering are to be sold by Crinetics. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Crinetics intends to use the net proceeds from the proposed offering to fund the development of paltusotine and its other research and development programs, and for working capital and general corporate purposes.

SVB Leerink, Piper Sandler and Cantor are acting as joint bookrunning managers for the offering.

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