Crinetics Pharmaceuticals, Inc. announced the pricing of an underwritten public offering of 7,620,000 shares of its common stock at $45.95 per share, expected to raise approximately $350 million. The offering is expected to close on January 8, 2026. The company plans to use the proceeds for commercial activities, research and development, and general corporate purposes. Leerink Partners, J.P. Morgan, and others are acting as joint bookrunning managers. The securities are being offered under a shelf registration statement filed with the SEC. Crinetics Pharmaceuticals focuses on developing novel therapies for endocrine diseases and tumors, with PALSONIFY™ as its lead product approved for acromegaly treatment.

The company’s lead product, PALSONIFY™ (paltusotine), is the first once-daily, oral treatment approved by the U.S. Food and Drug Administration for acromegaly. Crinetics has a deep pipeline of programs targeting various endocrine conditions. The company’s focus is on developing therapies using G-protein coupled receptors with tailored pharmacology. Forward-looking statements in the press release caution investors about potential risks and uncertainties associated with the public offering and business operations. For more information, investors can contact Gayathri Diwakar, Head of Investor Relations, or Natalie Badillo, Head of Corporate Communications.

Read more at GlobeNewswire: Crinetics Pharmaceuticals Announces Pricing of Public