Crinetics Pharmaceuticals announced the pricing of an underwritten public offering of 7.62 million shares of its common stock at $45.95 per share, generating gross proceeds of approximately $350 million before underwriting discounts and commissions. The company also granted underwriters a 30-day option to purchase up to an additional 1.143 million shares. The offering is expected to close on or about January 8, 2026, subject to customary closing conditions, and proceeds will bolster Crinetics’ balance sheet as it advances commercialization and R&D efforts.

Net proceeds from the offering, together with existing cash, cash equivalents and investment securities, will support the commercial rollout of PALSONIFY™, paltusotine’s brand name, fund late-stage development of atumelnant in congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome, advance CRN09682 for SST2-expressing tumors and sustain other discovery programs targeting endocrine diseases and oncology indications. A portion of funds may be allocated to in-licensing or acquisitions, though no binding commitments are in place.

A syndicate of Leerink Partners, J.P. Morgan, Evercore ISI, Piper Sandler and Cantor is acting as joint bookrunning manager for the transaction, with Baird serving as lead manager. The offering is being conducted under a shelf registration statement that became effective upon filing with the SEC. Final terms will be set forth in a prospectus supplement to be filed with the Securities and Exchange Commission.

Following the offering, Crinetics expects to maintain a strong liquidity position with minimal debt leverage, enabling sustained investment in its deep pipeline of more than ten disclosed programs. The enhanced capital base underwrites commercialization of the first-in-class oral acromegaly therapy and supports strategic flexibility to pursue partnerships, in-licensing or acquisitions that complement its GPCR-targeted platform.