Crinetics Pharmaceuticals (CRNX) Prices 7.15M Share Common Offering at $14/Sh

Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, announced today the pricing of an underwritten public offering of 7,150,000 shares of its common stock at a price to the public of $14.00 per share. All of the shares to be sold in the offering are being sold by Crinetics. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $100.1 million. In addition, Crinetics has granted the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of common stock. The offering is expected to close on or about April 17, 2020, subject to the satisfaction of customary closing conditions.

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. H.C. Wainwright & Co. and Roth Capital Partners are acting as co-managers for the offering.

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