Crinetics Pharmaceuticals Announces Closing of Underwritten Common Stock Offering

SAN DIEGO, April 18, 2022 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, announced today that it has closed its previously announced underwritten follow-on offering of 5,625,563 shares of its common stock at a price to the public of $22.22 per share. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $125.0 million. The offering included new investors, Braidwell and Suvretta Capital Management’s Averill strategy, as well as participation from existing stockholders.

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Crinetics Pharmaceuticals Announces Closing of Underwritten Common Stock Offering