Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 145

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 145
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 internal controls over financial reporting; 

•the costs associated with hiring additional and retaining existing personnel and consultants as our preclinical and clinical activities increase; 

•the timing and the extent of any Australian Tax Incentive refunds and future grant revenues, if any, that we receive; 

•the costs and timing of establishing or securing sales and marketing capabilities if any product candidate is approved; 

•our ability to effectively expand our operations globally, including the costs and timing of growing our newly formed subsidiary, CPEG;

•our ability to achieve sufficient market acceptance, adequate coverage and reimbursement from third-party payors and adequate market share and revenue for any approved products; 

•the effect of competing technological and market developments;

•the terms and timing of establishing and maintaining collaborations, licenses and other similar arrangements;

•our ability to receive sales-based milestones under our collaboration and license agreements and other potential future similar arrangements;

•costs associated with any products or technologies that we may in-license or acquire;

•the funding of any co-development arrangements we enter into; and

•our ability to participate in any future equity offering by Radionetics.

Accordingly, we may need to seek additional funds sooner than planned, including through public or private equity or debt financings or other sources or through strategic collaborations. In June 2024, we entered into a Sales Agreement, or the Sales Agreement, with Leerink Partners LLC and Cantor Fitzgerald & Co., or the Sales Agents, under which we have and may, from time to time, sell up to $350.0 million of shares of our common stock through the Sales Agents. However, there can be no assurance that the Sales Agents will be successful in consummating future sales based on prevailing market conditions or in the quantities or at the prices that we deem appropriate. In addition, the Sales Agreement may be terminated by us or the Sales Agents at any time upon ten days’ notice to the other parties, or by either Sales Agent, with respect to itself, at any time in certain circumstances, including the occurrence of a material adverse change. Attempting to secure additional financing may divert our management from our day-to-day activities, which may adversely affect our ability to develop our product candidates. Adequate additional financing may not be available to us on acceptable terms, or at all. We do not currently have any active grants nor do we expect grant revenues to be a material source of future revenue. If we are unable to obtain funding on a timely basis, we may be required to significantly curtail, delay or dis