Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 106

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 106
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Other income, net.     The increase of $1.5 million and $13.8 million in other income during the three and nine months ended September 30, 2025 since the corresponding periods in the prior year was primarily due to an increase in income generated by our investment securities.

Liquidity and Capital Resources

Our financial condition is summarized as follows (in thousands):

September 30,2025December 31,2024$ Change% ChangeCash and cash equivalents$110,901 $264,545 $(153,644)(58)%Investment securities981,390 1,089,524 (108,134)(10)%Cash, cash equivalents and investment securities$1,092,291 $1,354,069 $(261,778)(19)%Working capital$1,047,120 $1,315,704 $(268,584)(20)%Accumulated deficit$(1,294,612)$(952,110)$(342,502)36 %

Based on our current and anticipated level of operations, we believe that our existing capital resources, together with income generated by our investment securities, will be sufficient to satisfy our current and projected funding requirements for at least the next twelve months. However, our forecast of the period through which our financial resources will be adequate to support our operations is a forward-looking statement that involves risks and uncertainties, and actual results could vary materially. We have based this estimate on assumptions that may prove to be wrong, and we could use our capital resources sooner than we expect. Additionally, the process of testing product candidates in clinical trials is costly, and the timing of progress and expenses in these trials is uncertain.

Our future capital requirements will depend on many factors, including:

•the type, number, scope, progress, results, costs and timing of our preclinical studies and clinical trials of our product candidates which we are pursuing or may choose to pursue in the future;

•our ability to generate revenues through product sales of PALSONIFY and other potential product candidates once approved, if ever, and future licensing arrangements;

•the costs of and our ability to obtain clinical and commercial supplies for our current product candidates and any other product candidates we may identify and develop;

•the costs and timing of manufacturing for our product candidates, including commercial manufacturing;

•the costs, timing and outcome of regulatory review of our product candidates;

•the costs of obtaining, maintaining and enforcing our patents and other intellectual property rights;

•our efforts to enhance operational systems and