Crinetics Pharmaceuticals, Inc.
crinetics.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2026 10-Q, filed Aug 3, 2026. Its latest SEC filing is a 15-12G from Sep 11, 2026.
10-Q for Q2 FY2026, filed Aug 3, 2026
The sections below describe the company as of the FY2025 annual report.
What Did They Do?
Sells PALSONIFY, an oral treatment for adults with acromegaly, and develops small-molecule therapies for endocrine diseases and endocrine-related tumors.
10-K for FY2025, filed Feb 26, 2026We are a pharmaceutical company committed to transforming the treatment of endocrine diseases and endocrine-related tumors through science…View ↗
Our lead product, PALSONIFY (paltusotine), is the first once-daily, oral treatment approved by the FDA for the treatment of adults with…View ↗
We are a commercial-stage company following the U.S. regulatory approval and commercial launch of PALSONIFY in the fourth quarter of 2025.…View ↗
How Did They Make Money?
Specialty distributors and pharmacies buy PALSONIFY for resale; the sale occurs on delivery, and customers pay under invoice terms. Collaboration and license income comes from upfront fees, study-related work over time, and possible milestones or royalties.
10-K for FY2025, filed Feb 26, 2026The Company, through a 3PL, distributes PALSONIFY in the U.S. to its customers, who then sell the product to other end-user customers. The…View ↗
Following the regulatory approval in September 2025, the Company launched PALSONIFY and began recognizing product revenue in the United…View ↗
In exchange, the Company received a $13.0 million nonrefundable, upfront payment and will be eligible to receive up to an additional $25.5…View ↗
The control of the license was transferred to SKK at the inception of the contract and the Company does not have an ongoing performance…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$7.7M
-
10-K for FY2025, filed Feb 26, 2026
$7.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product revenue, net
Sold outright
10-K for FY2025, filed Feb 26, 2026 |
70% |
Product revenue, net, FY2025
$5.4M Sources
|
Sold outright |
|
Collaboration and license revenue
|
30% |
Collaboration and license revenue, FY2025
$2.3M Sources
|
Who Were Their Customers?
Crinetics distributes PALSONIFY through a third-party distributor to specialty distributors and specialty pharmacies, which sell it to end users. Licensing partners receive rights to develop or commercialize candidates for specific markets or uses.
10-K for FY2025, filed Feb 26, 2026Our product support infrastructure includes medical affairs personnel and commercial teams, including a specialty sales force supported by…View ↗
The Company, through a 3PL, distributes PALSONIFY in the U.S. to its customers, who then sell the product to other end-user customers. The…View ↗
Following the regulatory approval in September 2025, the Company launched PALSONIFY and began recognizing product revenue in the United…View ↗
In February 2022, we and SKK entered into the SKK License, pursuant to which we granted SKK an exclusive license to develop and…View ↗
On March 24, 2023, we and Loyal entered into the Loyal License, pursuant to which we granted Loyal an exclusive license to develop and…View ↗
Did Revenues Turn Into Profits?
No. It lost $465.3M in FY2025.
10-K for FY2025, filed Feb 26, 2026
−$516.8MView ↗
10-K for FY2025, filed Feb 26, 2026
−$465.3MView ↗
10-K for FY2025, filed Feb 26, 2026
−$383.7MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 3, 2026
−$120.9MView ↗
- ▲ +5% (Loss)
- vs −$115.6M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 3, 2026
Open tableView ↗
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Sep 1, 2026
Vertex completed its acquisition of Crinetics
Crinetics became a wholly owned Vertex subsidiary.
Sources
8-K, filed Sep 1, 2026
Completion of Acquisition or Disposition of Assets.View ↗
Grew. Revenue grew 7.1x in 4 years, from $1.1M in FY2021 to $7.7M in FY2025, about 63% a year.
From development to commercial sales
The older report described Crinetics as a clinical-stage company developing paltusotine and other candidates; the latest describes PALSONIFY as an approved, marketed treatment alongside continued pipeline development.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 26, 2026We are a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for…View ↗
Who Did They Compete With?
Competes with Novartis, Ipsen Biopharmaceuticals, Recordati Rare Diseases, Chiesi Farmaceutici, Pfizer, Cipla, Camurus, Alexion Pharmaceuticals, AstraZeneca, Marea Therapeutics, TerSera Therapeutics, Exelexis, Oranomed, RadioMedix, ASCIL Biopharm, RayzeBio, Molecular Targeting Technologies, Perspective Therapeutics, Immunwork, and Neurocrine Biosciences
10-K for FY2025, filed Feb 26, 2026There are three injected somatostatin analogs approved for the treatment of acromegaly: octreotide (marketed by Novartis AG), lanreotide…View ↗
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