Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 34

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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30, 20257,848,865$24.02 6.2$142,127 Restricted Stock UnitsThe Company’s restricted stock unit (“RSU”) activity during the nine months ended September 30, 2025, was as follows:Restricted StockUnitsOutstandingWeighted-AverageGrant Date Fair ValueBalance at December 31, 20241,334,635 $34.30 Granted1,516,223 $34.76 Vested(412,764)$32.50 Forfeited(151,484)$36.12 Balance at September 30, 20252,286,610 $34.81 Employee Stock Purchase PlanDuring the nine months ended September 30, 2025, the Company issued 114,565 shares of our common stock under the ESPP. The shares were purchased by employees at an average purchase price of $25.14 per share, resulting in proceeds to the Company of approximately $2.9 million.Stock-Based Compensation ExpenseStock-based compensation expense for the equity awards issued by the Company to employees and non-employees for the periods presented below was as follows (in thousands):Three months ended September 30,Nine months ended September 30,2025202420252024Included in research and development$13,003 $10,556 $37,921 $29,612 Included in selling, general and administrative9,699 7,591 31,383 20,929 Total stock-based compensation expense$22,702 $18,147 $69,304 $50,541 

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Table of Contents

A summary of the Company's total unrecognized stock-based compensation expense, as of September 30, 2025, is as follows:Unrecognized Stock-BasedCompensation Expense(in thousands)Average RemainingVesting Period(in years)Stock option awards$137,704 2.5RSU awards$64,681 2.9ESPP$5,512 1.4

10. Investment In Radionetics

In October 2021, the Company licensed its radiotherapeutics technology to Radionetics Oncology, Inc. (“Radionetics”) in exchange for 50,500,000 shares of Radionetics' common stock, equivalent to a 64% initial stake, and a warrant to maintain up to 22% equity in Radionetics on a fully diluted basis (“Radionetics Warrant”).In August 202