Crinetics Announces Major Public Offering to Fund Growth

Crinetics Pharmaceuticals ( (CRNX) ) has shared an update.

On January 6, 2026, Crinetics Pharmaceuticals entered into an underwriting agreement with a syndicate led by Leerink Partners and J.P. Morgan Securities for an underwritten public offering of 7,620,000 shares of common stock at a public price of $45.95 per share, with underwriters purchasing at $43.42275 per share. The deal, which includes a 30-day option for underwriters to buy up to an additional 1,143,000 shares, is expected to close on January 8, 2026 and is expected to generate approximately $330.2 million in net proceeds, or about $379.8 million if the option is fully exercised, providing Crinetics with substantial capital to fund the commercial launch of PALSONIFY, advance its research and development pipeline, and support broader corporate purposes, thereby strengthening its financial position as it scales its endocrine-focused portfolio.

The most recent analyst rating on (CRNX) stock is a Buy with a $87.00 price target. To see the full list of analyst forecasts on Crinetics Pharmaceuticals stock, see the CRNX Stock Forecast page.

Spark’s Take on CRNX Stock

According to Spark, TipRanks’ AI Analyst, CRNX is a Neutral.

Overall score reflects a strong financial runway and supportive commercial/clinical updates (PALSONIFY launch traction and positive Phase 2 data), tempered by very large ongoing losses and heavy cash burn. Technicals are broadly neutral, while valuation remains pressured due to negative earnings and no dividend yield.

To see Spark’s full report on CRNX stock, click here.

More about Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc., based in San Diego and listed on Nasdaq as CRNX, is a global pharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapies for endocrine diseases and endocrine-related tumors, with core expertise in targeting G‑protein coupled receptors (GPCRs). Its lead product, PALSONIFY (paltusotine), is the first once-daily oral treatment approved by the U.S. Food and Drug Administration for adults with acromegaly who have had an inadequate response to surgery or are not surgical candidates, and it is also in clinical development for carcinoid syndrome. The company’s pipeline exceeds 10 disclosed programs, including late-stage candidate atumelnant for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome and CRN09682 for SST2-expressing neuroendocrine and other solid tumors, alongside additional discovery efforts in neuroendocrine tumors, Graves’ disease, polycystic kidney disease, hyperparathyroidism, diabetes, obesity and GPCR-targeted oncology indications.

Average Trading Volume: 1,330,287

Technical Sentiment Signal: Buy

Current Market Cap: $4.57B

For detailed information about CRNX stock, go to TipRanks’ Stock Analysis page.