Crinetics Pharmaceuticals(CRNX) - 2025 Q1 - Quarterly Results

Financial Performance - Revenues for Q1 2025 were $0.4 million, a decrease from$0.6 million in Q1 2024[7] - Net loss for Q1 2025 was $96.8 million, compared to a net loss of$66.9 million in Q1 2024[12] - Cash, cash equivalents, and investments totaled $1.3 billion as of March 31, 2025, down from$1.4 billion at the end of 2024, expected to fund operations into 2029[12] Expenses - Research and development expenses increased to $76.2 million in Q1 2025 from$53.3 million in Q1 2024, driven by higher personnel and manufacturing costs[7] - Selling, general and administrative expenses rose to $35.5 million in Q1 2025, compared to$20.8 million in Q1 2024, primarily due to increased personnel and outside services costs[7] Regulatory and Clinical Updates - The FDA PDUFA target action date for paltusotine NDA is set for September 25, 2025[7] - The Phase 3 CALM-CAH study for atumelnant is designed to normalize androstenedione levels with physiological glucocorticoid replacement[7] - Crinetics plans to initiate the CAREFNDR Phase 3 trial of paltusotine in carcinoid syndrome in the second half of 2025[7] - The marketing authorization application for paltusotine has been validated by the EMA, with a potential decision expected in the first half of 2026[4] Future Events - The company has scheduled an R&D Day for June 26, 2025, to provide updates on its early-stage pipeline[7]