Crinetics Pharmaceuticals, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
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Condensed Consolidated Statements of Cash Flows
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(in thousands)
| Nine months ended | ||
|---|---|---|
| September 30, | ||
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(342,502) | $(217,813) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 69,304 | 50,541 |
| Depreciation and amortization | 2,896 | 1,997 |
| Noncash lease expense | 2,360 | 2,283 |
| Accretion of purchase discounts and amortization of premiums on investment securities, net | (12,691) | (10,768) |
| Loss on disposal of property and equipment | 42 | 51 |
| Loss on equity method investment | — | 470 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | (18,531) | 1,830 |
| Accounts payable and accrued expenses, compensation and related expenses, and other liabilities | 17,807 | 7,201 |
| Deferred revenue | (1,128) | 74 |
| Operating lease liabilities | (2,578) | 811 |
| Net cash used in operating activities | (285,021) | (163,323) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchases of investment securities | (790,781) | (421,744) |
| Proceeds from sales and maturities of investment securities | 912,886 | 391,830 |
| Purchases of property and equipment | (5,304) | (2,815) |
| Net cash provided by (used in) investing activities | 116,801 | (32,729) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of common stock, net of commissions | — | 441,498 |
| Offering costs related to issuance of common stock | — | (15,949) |
| Proceeds from exercise of stock options and shares issued under Employee Stock Purchase Plan | 14,576 | 32,875 |
| Net cash provided by financing activities | 14,576 | 458,424 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (153,644) | 262,372 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | 265,845 | 56,197 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $112,201 | $318,569 |
| COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||
| Cash and cash equivalents | $110,901 | $317,269 |
| Restricted cash | 1,300 | 1,300 |
| Cash, cash equivalents and restricted cash at end of period | $112,201 | $318,569 |
| NONCASH INVESTING AND FINANCING ACTIVITIES | ||
| Stock options exercised receivable | $4,737 | $10 |
| Receivable for common stock issuances | $— | $1,651 |
| Amounts accrued for purchases of property and equipment | $57 | $62 |
| Stock held in trust | $112 | $— |
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