Crinetics Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 07:07 am EDT
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Crinetics Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.988 million compared to USD 0.439 million a year ago. Net loss was USD 50.98 million compared to USD 42.38 million a year ago. Basic loss per share from continuing operations was USD 0.94 compared to USD 0.81 a year ago.
For the six months, sales was USD 3.67 million compared to USD 3.57 million a year ago. Net loss was USD 96.97 million compared to USD 77 million a year ago. Basic loss per share from continuing operations was USD 1.79 compared to USD 1.54 a year ago.
Crinetics Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its Paltusotine, an investigational, oral somatostatin receptor type 2 (SST2) agonist, is in Phase 3 clinical development for acromegaly and Phase 2 clinical development for carcinoid syndrome associated with neuroendocrine tumors. It has demonstrated pharmacologic proof-of-concept in a Phase 1 clinical study for CRN04894, an investigational, oral ACTH antagonist, that is in Phase 2 clinical studies for the treatment of congenital adrenal hyperplasia and Cushing's disease. Its drug candidates are orally delivered, small molecule new chemical entities resulting from in-house drug discovery efforts, including other programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease, thyroid eye disease, diabetes and obesity.
CRINETICS PHARMACEUTICALS, INC. 
