Crinetics Pharmaceuticals, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 8, 2025. The company recorded a net loss of $96.8 million for Q1 2025, compared to $66.9 million for the same period in 2024.
Research and development expenses increased to $76.2 million in Q1 2025 from $53.3 million in Q1 2024, driven by increased personnel, manufacturing, and outside services costs. Selling, general, and administrative expenses rose to $35.5 million from $20.8 million, primarily due to higher personnel costs and commercial planning.
As of March 31, 2025, Crinetics held $1.30 billion in unrestricted cash, cash equivalents, and investment securities, projected to fund operations into 2029. The company remains on track with the FDA review for paltusotine, with a PDUFA date of September 25, 2025, and plans to initiate the CALM-CAH Phase 3 study for adults with CAH.
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