Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 244

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 244
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 $2.1 million from the Loyal License which was entered into 2023, and $1.5 million and $0.4 million related to the Sanwa License and Sanwa Clinical Supply Agreement, respectively.

Research and development expenses.     Research and development expenses were $240.2 million and $168.5 million for the years ended December 31, 2024 and 2023, respectively. The change was primarily due to an increase in personnel costs of $43.4 million, increased outside services of $11.3 million, increase in facilities expenses of $6.3 million, an increase in manufacturing and development activities of $12.1 million, offset by decreased spending on nonclinical activities of $1.9 million. We describe the changes in these research and development expenses for each of our programs below.

The following table summarizes our primary external and internal research and development expenses for the years ended December 31, 2024 and 2023 (in thousands):

    Year ended December 31,

    Dollar

    2024

    2023

    Change

    External research and development expenses:

    Clinical trials
     
    $
    40,532

    $
    39,851

    $
    681

    Contract manufacturing

    25,835

    14,437

    11,398

    Preclinical studies

    12,533

    14,454

    (1,921
    )

    Outside services

    25,771

    14,467

    11,304

    Other external research and development

    38

    39

    (1
    )

    Total external research and development expenses

    104,709

    83,248

    21,461

    Internal expenses:

    Payroll and benefits

    78,817

    53,446

    25,371

    Stock-based compensation

    40,667

    22,633

    18,034

    Facilities and related

    11,301

    4,964

    6,337

    Other internal research and development

    4,662

    4,236

    426

    Total internal research and development expenses

    135,447

    85,279

    50,168

    Total research and development expenses
     
    $