Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 46

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 operations, as well as the specific manner in which we apply those principles. For a description of our critical accounting policies, please see the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Critical Accounting Estimates” contained in our Annual Report on Form 10-K for the year ended December 31, 2024. There have been no material changes to our critical accounting estimates discussed therein.

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Table of Contents

Results of Operations

Comparison of the three and nine months ended September 30, 2025 and 2024

The following table summarizes our results of operations 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%Change2025202420252024Revenues$143 $— $143 100 %$1,535 $1,039 $496 48 %Operating expenses:Research and development90,464 61,905 28,559 46 %247,005 173,590 73,415 42 %Selling, general and administrative52,265 25,892 26,373 102 %137,633 71,558 66,075 92 %Total operating expenses142,729 87,797 54,932 63 %384,638 245,148 139,490 57 %Loss from operations(142,586)(87,797)(54,789)62 %(383,103)(244,109)(138,994)57 %Other income, net12,495 10,969 1,526 14 %40,601 26,766 13,835 52 %Loss before equity method investment(130,091)(76,828)(53,263)69 %(342,502)(217,343)(125,159)58 %Loss on equity method investment— — — — %— (470)470 (100)%Net loss$(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