Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 60

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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U 2023-09”). ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for public entities for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance and expects the adoption to affect disclosures only, with no material impact on the condensed consolidated financial statements.ASU 2024-03In November 2024, the FASB issued ASU No. 2024-03, Income Statement–Reporting Comprehensive Income–Expense disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregated disclosure of income statement expenses for public business entities (“PBEs”). ASU 2024-03 does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. ASU 2024-03 is effective for all PBEs for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that this guidance will have on the presentation of its condensed consolidated financial statements and accompanying notes.

8

Table of Contents

2. Investment Securities

The Company reports its available-for-sale investment securities at their estimated fair values. The following is a summary of the available-for-sale investment securities held by the Company as of September 30, 2025 and December 31, 2024 (in thousands):As of September 30, 2025AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairMarketValueAvailable-for-sale investment securities:U.S. government obligations$421,002 $823 $(1)$421,824 Agency obligations39,997 5 (44)39,958 Corporate debt securities518,148 1,482 (22)519,608 Total$979,147 $2,310 $(67)$981,390 As of December 31, 2024AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairMarketValueAvailable-for-sale investment securities:U.S. government obligations$542,