Crinetics Pharmaceuticals, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 7, 2025. The company's GAAP revenue rose to $1.0 million, surpassing the consensus GAAP estimate of $0.61 million by 62.9%.
The GAAP net loss per share widened to $(1.23), which was larger than the anticipated $(1.08) per share, with a GAAP net loss of $115.6 million compared to $74.1 million in Q2 2024. Research and development spending increased to $80.3 million, up 37.7% from the prior-year period, and selling, general, and administrative costs doubled to $49.8 million.
As of June 30, 2025, Crinetics held $1.2 billion in cash, cash equivalents, and investment securities, projected to fund operations into 2029. The company's regulatory interactions for PALSONIFY (paltusotine) remain on track for the September 25, 2025 PDUFA date, and it expects to initiate the CALM-CAH Phase 3 study and BALANCE-CAH Phase 2/3 study for pediatrics in the second half of 2025.
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