Crinetics Pharmaceuticals, Inc. (CRNX)

Crinetics Pharmaceuticals was a biopharmaceutical company headquartered in San Diego, California, focused on therapies for endocrine diseases and endocrine-related tumors. It was founded in 2008 by Scott Struthers, who served as chief executive, and it completed its initial public offering in 2018, listing its common stock on the Nasdaq Global Select Market under the symbol CRNX.

The company's scientific approach centered on designing oral, nonpeptide small molecules that act on peptide hormone receptors. Its lead product candidate, paltusotine, is an oral selective somatostatin receptor type 2 agonist developed for acromegaly, a rare disorder caused by excess growth hormone. Other programs included candidates for congenital adrenal hyperplasia, Cushing's disease and neuroendocrine tumors, as well as earlier research for hyperinsulinism.

Crinetics advanced paltusotine through Phase 3 trials in acromegaly and later in carcinoid syndrome, and it received U.S. approval for the acromegaly indication, marketed under the name Palsonify, which moved the company from a development-stage business toward commercial operations. The company had also formed collaborations in earlier years, including with Eli Lilly and with Roche.

In July 2026 Vertex Pharmaceuticals agreed to acquire Crinetics for $85.00 per share in cash, a transaction valued at about $10 billion. Vertex funded the deal with cash on hand and a new term loan. The acquisition was described as Vertex's largest to date and as an expansion of its pipeline into endocrinology.

The merger closed on September 1, 2026, and Crinetics became a wholly owned subsidiary of Vertex. Crinetics asked Nasdaq to suspend trading and delist its shares, and it planned to deregister its common stock. All of its former directors resigned and Vertex appointed new officers. Former shareholders were entitled only to the $85.00 per share cash payment.