Crinetics Pharmaceuticals, a pharmaceutical company, announced a proposed public offering of common stock.
The offering includes $350.0 million of shares of common stock with an option for additional shares.
Proceeds will fund commercial activities, research, and general corporate purposes.
Proposed Public Offering
Crinetics intends to offer $350.0 million of common stock with an additional option of $52.5 million, managed by key bookrunning managers.
Use of Proceeds
The net proceeds will support commercial activities for PALSONIFY ™, research, development, and other general corporate purposes, including potential acquisitions.
Bookrunning Managers
Leerink Partners, J.P. Morgan, Evercore ISI, Piper Sandler, and Cantor are the joint bookrunning managers for the offering.
- The proposed offering aims to enhance Crinetics Pharmaceuticals' financial position and support the launch of PALSONIFY ™ and research endeavors.
- Participation from key bookrunning managers signifies potential investor interest and market confidence in Crinetics' growth prospects.
Crinetics Pharmaceuticals' proposed public offering demonstrates strategic financial planning to support its commercial activities, research, and potential acquisitions, positioning the company for future growth in the pharmaceutical industry.