Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 85

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 various programs.

Selling, general and administrative expenses.     The increase of $26.4 million and $66.1 million in selling, general and administrative expenses during the three and nine months ended September 30, 2025, respectively, compared to the prior year periods was primarily due to the increase in personnel expenses of $10.2 million (including $2.1 million of stock-based compensation expense) and $29.1 million (including $10.4 million of stock-based compensation expense) for the 

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three and nine months ended September 30, 2025, respectively, when compared to the same periods in 2024. The remainder of the increase is primarily attributable to an increase in outside services of $12.0 million and $29.0 million for the three and nine months ended September 30, 2025, respectively, as compared to the prior year periods. These increases are attributable to the increase in headcount and increase in selling and other general and administrative costs to support our overall growth and the commercial launch of PALSONIFY.

Other income, net.     The increase of $1.5 million and $13.8 million in other income during the three and nine months ended September 30, 2025 since the corresponding periods in the prior year was primarily due to an increase in income generated by our investment securities.

Liquidity and Capital Resources

Our financial condition is summarized as follows (in thousands):

September 30,2025December 31,2024$ Change% ChangeCash and cash equivalents$110,901 $264,545 $(153,644)(58)%Investment securities981,390 1,089,524 (108,134)(10)%Cash, cash equivalents and investment securities$1,092,291 $1,354,069 $(261,778)(19)%Working capital$1,047,120 $1,315,704 $(268,584)(20)%Accumulated deficit$(1,294,612)$(952,110)$(342,502)36 %

Based on our current and anticipated level of operations, we believe that our existing capital resources, together with income generated by our investment securities, will be sufficient to satisfy our current and projected funding requirements for at least the next twelve months. However, our forecast of the period through which our financial resources will be adequate to support our operations is a forward-looking statement that involves risks and uncertainties, and actual