Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 19

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 19
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 2024, the FASB issued ASU 2024-03, which requires disaggregated disclosure of income statement expenses for public business entities ("PBEs"). The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. ASU 2024-03 is effective for all PBEs for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that this guidance will have on the presentation of its consolidated financial statements and accompanying notes. 

F-15

3. INVESTMENT SECURITIESThe Company reports its available-for-sale investment securities at their estimated fair values. The following is a summary of the available-for-sale investment securities held by the Company as of December 31, 2024 and 2023 (in thousands):  

        As of December 31, 2024

        AmortizedCost

        GrossUnrealizedGains

        GrossUnrealizedLosses

        FairMarketValue

        Available-for-sale investment securities:

        U.S. government obligations
         
        $
        542,962

        $
        417

        $
        (35
        )
         
        $
        543,344

        Agency obligations

        57,986

        2

        (57
        )

        57,931

        Corporate debt securities

        487,613

        818

        (182
        )

        488,249

        Total
         
        $
        1,088,561

        $
        1,237

        $
        (274
        )
         
        $
        1,089,524

        As of December 31, 2023

        AmortizedCost

        GrossUnrealizedGains

        GrossUnrealizedLosses

        FairMarketValue

        Available-for-sale investment securities:

        U.S. government obligations
         
        $
        279,577

        $
        731

        $
        (99
        )
         
        $
        280,209

        Agency obligations

        21,271

        16

        (17
        )

        21,270

        Cert