Company: CRNX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001658247-25-000019
Chunk: 27

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 Total assets measured at fair value$523,996 $559,566 $— $1,083,562 

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Table of Contents

As of December 31, 2024Level 1Level 2Level 3TotalCash equivalents:Money market funds$249,116 $— $— $249,116 Corporate debt securities— 5,314 — 5,314 Total cash equivalents249,116 5,314 — 254,430 Investment securities:U.S. government obligations543,344 — — 543,344 Agency obligations— 57,931 — 57,931 Corporate debt securities— 488,249 — 488,249 Total investment securities543,344 546,180 — 1,089,524 Other non-current assets:Deferred compensation plan (1)829 — — 829 Total assets measured at fair value$793,289 $551,494 $— $1,344,783 (1)Consists of mutual fund investments held in the Rabbi Trust related to the Company’s non-qualified deferred compensation plan.The Company’s policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of Level 3 during the nine months ended September 30, 2025 and 2024.

4. Balance Sheet Details

Prepaid expenses and other assetsPrepaid expenses and other assets consisted of the following (in thousands):September 30,2025December 31,2024Prepaid clinical costs$15,657 $6,842 Interest receivable6,340 8,310 Prepaid research and development costs4,753 714 Receivable for common stock issued (including taxes)6,987 78 Prepaid subscriptions3,469 2,561 Deferred compensation plan2,902 829 Loyal preferred stock (see Note 7)2,000 2,000 Other4,808 2,314 Total prepaid expenses and other assets46,916 23,648 Less prepaid expenses and other current assets(28,484)(20,819)Prepaid expenses and other assets, net of current portion$18,432 $2,829 Property and Equipment, netProperty and equipment, net consisted of the following (in thousands):