Company: CRNX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000950170-25-066982
Chunk: 0

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Crinetics Pharmaceuticals, Inc. 

Condensed Consolidated Balance Sheets

(in thousands, except per share data)  

     March 31,

     December 31,

     2025

     2024

     (Unaudited)

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     94,569

     $
     264,545

     Restricted cash

     500

     500

     Investment securities, amortized cost of $1,177,559 at March 31, 2025 and $1,088,561 at December 31, 2024

     1,179,555

     1,089,524

     Prepaid expenses and other current assets

     16,431

     20,819

     Total current assets

     1,291,055

     1,375,388

     Property and equipment, net

     12,628

     12,068

     Operating lease right-of-use assets

     42,694

     43,507

     Restricted cash, net of current portion

     800

     800

     Other assets

     14,150

     2,829

     Total assets
      
     $
     1,361,327

     $
     1,434,592

     Liabilities and Stockholders’ Equity

     Current liabilities:

     Accounts payable and accrued expenses
      
     $
     31,616

     $
     21,469

     Accrued compensation and related expenses

     16,606

     28,887

     Deferred revenue

     2,206

     2,176

     Operating lease liabilities

     6,883

     7,152

     Total current liabilities

     57,311

     59,684

     Operating lease liabilities, non-current

     43,936

     44,570

     Deferred revenue, non-current

     4,313

     4,704

     Other non-current liabilities

     1,767

     829

     Total liabilities

     107,327

     109,787

     Commitments and contingencies (Note 7)

     Stockholders’ equity:

     Preferred stock, $0.001 par; 10,000 shares authorized; no shares issued     or