NASDAQ$CRNX
Crinetics Pharmaceuticals Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Crinetics reported first quarter 2020 financial results and provided a corporate update.
Crinetics Pharmaceuticals reported positive interim results for its ACROBAT Edge Phase 2 trial of oral paltusotine in acromegaly treatment and completed a public offering, raising $107.9 million in net proceeds. The company's pipeline advancements and focus on paltusotine for acromegaly and NETs were also highlighted.
- Reported positive interim results from ACROBAT Edge Phase 2 trial of paltusotine in acromegaly patients, showing maintenance of IGF-1 levels.
- Discontinued new enrollment in the ACROBAT Evolve trial to focus on paltusotine development.
- Completed a public offering in April, raising approximately $107.9 million to strengthen the balance sheet.
- Advanced pipeline programs, including oral nonpeptide ACTH antagonist and SST5 agonist, with Phase 1 trials planned for late 2020 or early 2021.
Headline financials
Revenue & EPS history
Crinetics · Revenue · Quarterly
$71K
Revenue by segment
Crinetics · $1.1M total across 1 segment · Q4 2021
- Collaboration and license$1.1M—100.0%
Forward guidance
Crinetics is focused on advancing its pipeline, particularly paltusotine, through key milestones, including Phase 3 trials and Phase 2 trials. The company anticipates PK/PD data from human proof-of-concept studies in the first half of 2021.
Tailwinds
- Potential for interim data results to be consistent with final results.
- Potential benefits of paltusotine for acromegaly patients.
- Potential to initiate a pivotal Phase 3 trial of paltusotine in acromegaly.
- Planned expansion of the paltusotine development program to include the treatment of patients with NETs.
- Anticipated timing of topline data for Edge and Evolve and the initiation of proof-of-concept Phase 1 trials and timing of PK/PD data for its other development programs.
Headwinds
- Interim results of a clinical trial do not necessarily predict final results.
- Potential delays in the commencement, enrollment and completion of clinical trials and the reporting of data therefrom.
- Advancement of paltusotine into a Phase 3 trial is dependent on and subject to the receipt of further feedback from the FDA.
- The COVID-19 pandemic may disrupt Crinetics’ business and that of the third parties on which it depends.
- Unexpected adverse side effects or inadequate efficacy of the company’s product candidates may limit their development, regulatory approval and/or commercialization.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.1%
Avg return
Earnings day
+1.4%
Avg return
5 days after
-1.0%
Avg return
30 days after
45%
14 / 31 earnings
Positive
+14.8%
Q2 2020
Best reaction
-13.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.3% | -11.5% | -21.1% | |
| Q4 2025 | -6.1% | -9.7% | -23.0% | |
| Q3 2025 | -8.0% | -1.5% | +7.3% | |
| Q1 2025 | -6.2% | -4.3% | +0.9% | |
| Q4 2024 | +7.7% | +2.2% | +4.6% | |
| Q3 2024 | -1.8% | -8.8% | -7.3% | |
| Q2 2024 | -1.4% | +4.2% | +4.3% | |
| Q1 2024 | -5.7% | -3.0% | -12.1% | |
| Q4 2023 | +1.2% | +7.5% | +15.7% | |
| Q3 2023 | -6.7% | -11.7% | +9.8% | |
| Q2 2023 | -7.3% | -8.3% | -10.2% | |
| Q1 2023 | +3.6% | +9.4% | +2.0% | |
| Q4 2022 | +2.2% | -0.3% | -17.6% | |
| Q3 2022 | -0.8% | -3.0% | -11.4% | |
| Q2 2022 | +8.6% | +4.3% | +2.1% | |
| Q1 2022 | +11.2% | +26.2% | +10.3% | |
| Q4 2021 | +11.6% | +25.3% | +3.3% | |
| Q3 2021 | +0.7% | -0.8% | -10.7% | |
| Q2 2021 | +13.3% | +31.9% | +40.8% | |
| Q1 2021 | -0.7% | -3.2% | -0.8% | |
| Q4 2020 | -0.7% | +4.0% | +15.4% | |
| Q3 2020 | -7.8% | -1.2% | -2.6% | |
| Q2 2020 | +14.8% | +3.4% | -5.3% | |
| Q1 2020 | +14.3% | +14.8% | -5.8% | |
| Q4 2019 | -13.0% | -33.2% | -33.1% | |
| Q3 2019 | -0.4% | -3.6% | +13.3% | |
| Q2 2019 | -4.5% | -0.6% | -8.1% | |
| Q1 2019 | -2.3% | +0.8% | -12.8% | |
| Q4 2018 | +8.1% | +8.1% | -0.3% | |
| Q3 2018 | +8.8% | +8.5% | +27.9% | |
| Q2 2018 | -2.9% | -2.5% | -7.2% | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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