Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 2

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 2
---
 trial accruals by: (i) obtaining and inspecting certain agreements and amendments and (ii) confirming total clinical costs incurred and total amounts billed with certain third-party vendors.

•Testing the completeness of the Company’s clinical trial accruals by: (i) evaluating internal materials and publicly available information (such as press releases and public databases that track clinical trials) and (ii) testing invoices received after year-end for certain third-party vendors.

/s/ BDO USA, P.C. 

We have served as the Company’s auditor since 2016. 

San Diego, California

February 27, 2025

F-3

CRINETICS PHARMACEUTICALS, INC.

Consolidated Balance Sheets

(In thousands, except per share amounts) 

    December 31,2024

    December 31,2023

    Assets

    Current assets:

    Cash and cash equivalents
     
    $
    264,545

    $
    54,897

    Restricted cash

    500

    —

    Investment securities, amortized cost of $1,088,561 at December 31, 2024 and $502,681 at December 31, 2023

    1,089,524

    503,658

    Prepaid expenses and other current assets

    20,819

    15,598

    Total current assets

    1,375,388

    574,153

    Property and equipment, net

    12,068

    10,881

    Operating lease right-of-use assets

    43,507

    46,549

    Investment in Radionetics

    —

    470

    Restricted cash, net of current portion

    800

    1,300

    Other assets

    2,829

    2,000

    Total assets
     
    $
    1,434,592

    $
    635,353

    Liabilities and Stockholders’ Equity

    Current liabilities:

    Accounts payable and accrued expenses
     
    $
    21,469

    $
    23,196

    Accrued compensation and related expenses

    28,887

    14,517

    Deferred revenue

    2,176

    2,056

    Operating lease liabilities

    7,152

    4,173

    Total