Crinetics Pharmaceuticals, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, on February 27, 2025. The company reported a net loss of $96.8 million for Q4 2024, compared to $66.9 million for Q4 2023.
For the full year 2024, the net loss was $330.0 million, an increase from $230.0 million in 2023. Research and development expenses for Q4 2024 increased to $76.2 million from $53.3 million in the prior year, while selling, general, and administrative expenses rose to $35.5 million from $20.8 million.
The company ended 2024 with a strong financial position, holding $1.4 billion in cash, cash equivalents, and investment securities, which is projected to fund operations into 2029. Commercial preparations for paltusotine are on track ahead of its September 25, 2025 PDUFA date, and the company expects to initiate four late-stage trials and additional early-stage trials in 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.