Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 66

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 14
Chunk 66
---
,612

        (170
        )

        36,207

        (170
        )

        Total
         
        $
        22,409

        $
        (15
        )
         
        $
        51,683

        $
        (283
        )
         
        $
        74,092

        $
        (298
        )
       
       The Company reviewed its investment holdings as of December 31, 2024 and 2023 and determined that the decrease in fair value is attributable to changes in interest rates and not credit quality, and as the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity. Therefore, there were no allowances for credit losses as of December 31, 2024 and 2023. During the years ended December 31, 2024, 2023, and 2022, the Company recognized $51,000, $0, and ($86,000), respectively, of realized net gains (losses) in the accompanying statements of operations and comprehensive loss.Accrued interest receivable on available-for-sale securities was $8.3 million and $3.1 million at December 31, 2024 and 2023, respectively. The Company did not write off any accrued interest receivable in any of the periods presented in the consolidated financial statements.

4. FAIR VALUE MEASUREMENTSInvestment Securities The Company holds investment securities that consist of highly liquid, investment grade debt securities. The Company determines the fair value of its investment securities based upon one or more valuations reported by its investment accounting and reporting service provider. The investment service provider values the securities using a hierarchical security pricing model that relies primarily on valuations provided by an industry-recognized valuation service. Such valuations may be based on trade prices in active markets for identical assets or liabilities (Level 1 inputs) or valuation models using inputs that are observable either directly or indirectly (Level 2 inputs), such as quoted prices for similar assets or liabilities, yield curves, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, and broker and dealer quotes, as well as other relevant economic measures. Derivative AssetOn October 15, 2021, the Company received a warrant (the "Radionetics Warrant") to purchase the greater of 3