Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 103

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 103
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25,892 26,373 102 %137,633 71,558 66,075 92 %Total operating expenses142,729 87,797 54,932 63 %384,638 245,148 139,490 57 %Loss from operations(142,586)(87,797)(54,789)62 %(383,103)(244,109)(138,994)57 %Other income, net12,495 10,969 1,526 14 %40,601 26,766 13,835 52 %Loss before equity method investment(130,091)(76,828)(53,263)69 %(342,502)(217,343)(125,159)58 %Loss on equity method investment— — — — %— (470)470 (100)%Net loss$(130,091)$(76,828)$(53,263)69 %$(342,502)$(217,813)$(124,689)57 %

Revenues.    Revenues during the nine months ended September 30, 2025 and September 30, 2024 related to the Sanwa License and the Sanwa Clinical Supply Agreement. Revenues during the three months ended September 30, 2025 were derived from the Sanwa License. There were no revenues for the three months ended September 30, 2024.

Research and development expenses.    The increase of $28.6 million and $73.4 million in research and development expenses during the three and nine months ended September 30, 2025, respectively, compared to the prior year periods was primarily due to an increase in headcount, manufacturing activities and increased clinical costs driven by the advancement of our clinical programs and the advancement of our preclinical portfolio, as outlined below.

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Table of Contents

The following table summarizes our primary external and internal research and development expenses for the three and nine months ended September 30, 2025 and 2024 (in thousands):

Three months ended September 30,$Change%ChangeNine months ended September 30,$Change%Change2025202420252024External research and development expenses:Clinical trials$17,312 $10,131 $7,181 71 %$44,139 $29,673 $14,466 49 %Contract manufacturing10,133 7,104