Company: CRNX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029050
Chunk: 264

Company: Crinetics Pharmaceuticals, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 264
---
    —

    $
    87

    $
    —

    Accrued financing costs
     
    $
    —

    $
    26

    $
    —

    Amounts accrued for purchases of property and equipment
     
    $
    180

    $
    872

    $
    —

    Right-of-use asset obtained in exchange for lease obligations
     
    $
    —

    $
    46,273

    $
    —

    Leasehold improvements paid by the lessor
     
    $
    —

    $
    2,925

    $
    —

    Change in unvested stock liability
     
    $
    —

    $
    —

    $
    2

F-7

See the accompanying notes to these consolidated financial statements.

F-8

CRINETICS PHARMACEUTICALS

Notes to Consolidated Financial Statements

1. ORGANIZATION AND BASIS OF PRESENTATION Description of BusinessCrinetics Pharmaceuticals, Inc. (the “Company”) is a clinical-stage pharmaceutical company incorporated in Delaware on November 18, 2008 and based in San Diego, California. The Company is focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. In January 2017, the Company established a wholly-owned Australian subsidiary, Crinetics Australia Pty Ltd (“CAPL”), in order to conduct various preclinical and clinical activities for its development candidates. In September 2024, the Company established Crinetics Pharmaceuticals Europe GmbH ("CPEG"), a wholly-owned Swiss subsidiary which was formed, among other things, to conduct various development, regulatory and pre-commercialization activities for our product candidates in Europe.Our lead product candidate is paltusotine, which is in clinical development for the treatment of acromegaly and carcinoid syndrome associated with neuroendocrine tumors, or NETs.  Our second product candidate is atumelnant (formerly CRN04894), which is in clinical development for congenital adrenal hyperplasia, or CAH, and patients with either Cushing's disease or Ectopic ACTH Syndrome, or EAS.Principles of Consolidation and Foreign Currency Transactions and TranslationsThe consolidated financial statements include the accounts of the Company, CAPL, and CPEG. All intercompany accounts and transactions have been eliminated in consolidation. The functional currency of  CAPL is the U.S. dollar. Assets and liabilities that are not denominated in the functional currency are reme