Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 52

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 52
---
 as of date of this report, no shares of common stock had been sold under the 2024 ATM Offering Agreement. 

Common Stock and Common Stock Equivalents

As of October 28, 2025, outstanding shares of common stock were 94.9 million, outstanding stock options were 14.3 million, unvested restricted stock units were 2.3 million, and shares expected to be purchased under the 2018 Employee Stock Purchase Plan, or ESPP, were 0.4 million.

Cash Flows

We have incurred cumulative net losses and negative cash flows from operations since our inception and anticipate we will continue to incur net losses for the foreseeable future. As of September 30, 2025, we had unrestricted cash, cash equivalents and investment securities of $1.1 billion and an accumulated deficit of $1.3 billion.

The following table provides information regarding our cash flows for the nine months ended September 30, 2025 and 2024 (in thousands):

Nine months ended September 30,$Change%Change20252024Net cash used in operating activities$(285,021)$(163,323)$(121,698)75 %Net cash provided by (used in) investing activities116,801 (32,729)149,530 (457)%Net cash provided by financing activities14,576 458,424 (443,848)(97)%Net change in cash, cash equivalents and restricted cash$(153,644)$262,372 $(416,016)(159)%

Operating Activities.     The increase in cash used in operations was primarily attributable to higher net loss due to higher personnel costs to support our growth, increase in research and development expenses to support our pipeline, and increase in costs to support the commercialization of PALSONIFY. The net cash used in operating activities during the nine months ended September 30, 2025 was primarily due to our net loss of $342.5 million adjusted for $61.9 million of noncash charges, primarily for stock-based compensation, and a $4.4 million change in operating assets and liabilities. Net cash 

26

Table of Contents

used in operating activities during the nine months ended September 30, 2024 was primarily due to our net loss of $217.8 million adjusted for $44.6 million of noncash charges, primarily for stock-based compensation, and a $9.9 million change in operating assets and liabilities.

Investing activities.     Investing