NASDAQ$CRNX
Crinetics Pharmaceuticals Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported financial results for Q4 and full year 2023 and provided a corporate update.
Crinetics Pharmaceuticals reported its Q4 and full year 2023 financial results, highlighting the progress of paltusotine and CRN04894, and a $350 million private placement equity financing to extend the cash runway into 2028.
- Phase 3 PATHFNDR-1 study achieved primary and all secondary endpoints.
- Reported positive initial data from Phase 2 study of paltusotine in carcinoid syndrome.
- Completed enrollment in Phase 3 PATHFNDR-2 study of paltusotine.
- Strengthened balance sheet with $350 million private placement financing.
Headline financials
Revenue & EPS history
Crinetics · Revenue · Quarterly
$0
Revenue by segment
Crinetics · $1.1M total across 1 segment · Q4 2021
- Collaboration and license$1.1M—100.0%
Forward guidance
Crinetics anticipates several key milestones, including topline results from the Phase 3 PATHFNDR-2 study in March 2024, topline results from the Phase 2 study of paltusotine in carcinoid syndrome in the first half of 2024, and a paltusotine NDA submission in the second half of 2024.
Tailwinds
- Topline results from the Phase 3 PATHFNDR-2 study of paltusotine are expected in March 2024.
- Topline results from the Phase 2 study of paltusotine in carcinoid syndrome are expected in the first half of 2024.
- Paltusotine NDA submission is anticipated in the second half of 2024.
- Initial results from ongoing Phase 2 study of oral CRN04894 in congenital adrenal hyperplasia (CAH) are expected in the second quarter of 2024.
- Cash, cash equivalents and short-term investments will be sufficient to fund its current operating plan into 2028.
Headwinds
- Topline data may change following a more comprehensive review.
- The FDA and other regulatory authorities may not agree with Crinetics' interpretation of the results.
- Unexpected adverse side effects or inadequate efficacy of the company’s product candidates that may limit their development, regulatory approval and/or commercialization.
- Crinetics' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing.
- Any future impacts to Crinetics' business resulting from geopolitical developments outside their control.
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 Q4 2023
+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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