Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 62

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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 — 165,032 (182)Total$232,921 $(274)$— $— $232,921 $(274)The Company reviewed its investment holdings as of September 30, 2025 and December 31, 2024 and determined that any 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.Realized gains (losses) were immaterial for the three and nine months ended September 30, 2025 and 2024. Accrued interest receivable on available-for-sale securities was $6.3 million and $8.3 million at September 30, 2025 and December 31, 2024, respectively.

3. Fair Value Measurements

Fair value measurements 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.Financial assets measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024 were as follows (in thousands):As of September 30, 2025Level 1Level 2Level 3TotalCash equivalents:Money market funds$89,321 $— $— $89,321 U.S. government obligations9,949— — 9,949 Total cash equivalents99,270 — — 99,270 Investment securities:U.S. government obligations421,824 — — 421,824 Agency obligations— 39,958 — 39,958 Corporate debt securities— 519,608 — 519,608 Total investment securities421,824 559,566 — 981,390 Other non-current assets:Deferred compensation plan (1)2,902 — — 2,902 Total assets measured at fair value$523,996 $559,566 $—