Crinetics Pharmaceuticals Announces May 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Company Overview - Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on discovering, developing, and commercializing novel therapeutics for endocrine diseases and endocrine-related tumors [3] - The company's lead development candidate, paltusotine, is an investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors [3] - Crinetics is also developing atumelnant, a first-in-class oral ACTH antagonist for treating congenital adrenal hyperplasia and Cushing's disease [3] - All drug candidates are orally delivered, small molecules resulting from in-house drug discovery efforts, targeting various endocrine conditions [3] Recent Developments - On May 10, 2025, the Compensation Committee granted non-qualified stock option awards to purchase an aggregate of 152,475 shares and 101,800 restricted stock unit (RSU) awards to 35 new non-executive employees [1] - The stock options have an exercise price of $30.68 per share, equal to the closing price on May 9, 2025 [2] - The stock options and RSUs are granted under the 2021 Employment Inducement Incentive Award Plan, aimed at attracting new employees [1][2]