Crinetics Pharmaceuticals, Inc. reported its financial results for the third quarter ended September 30, 2024, on November 12, 2024. The company recorded a net loss of $76.8 million for the quarter.
Research and development expenses for Q3 2024 were $60.3 million, while selling, general, and administrative expenses amounted to $29.5 million. These expenses reflect ongoing investments in clinical and preclinical programs, as well as commercial planning activities.
As of September 30, 2024, Crinetics held $1.3 billion in unrestricted cash, cash equivalents, and investment securities. This strong financial position is projected to fund operations into 2029, supporting the company's pipeline advancement and anticipated commercial launch of paltusotine.
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