Crinetics Pharmaceuticals Updates on Atumelnant Phase 2 Trial Results and PALSONIFY Commercialization
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 05 2026
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Source: NASDAQ.COM
- Clinical Trial Progress: Crinetics Pharmaceuticals announced positive topline results from the Phase 2 trial of Atumelnant for Congenital Adrenal Hyperplasia in January 2025, demonstrating up to an 80% mean reduction in androstenedione levels across three dose cohorts, significantly improving patient health and indicating strong market potential for the drug.
- New Drug Development: Atumelnant, an oral medication, aims to treat CAH by blocking the MC2R receptor on the adrenal gland, thereby reducing excess cortisol and androgen production, further enhancing Crinetics' innovative capabilities in the endocrine disease sector.
- Subsequent Trial Initiation: Following the positive Phase 2 results, Crinetics has initiated the Phase 3 CALM-CAH trial to evaluate Atumelnant's ability to normalize adrenal androgen levels while reducing glucocorticoid levels, showcasing the company's ongoing progress in drug development.
- Market Response: Crinetics' stock rose 0.39% to $46.73 in Friday's trading, reflecting investor optimism regarding the company's drug development advancements and bolstering market confidence in its future growth potential.
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Analyst Views on CRNX
Wall Street analysts forecast CRNX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CRNX is 88.64 USD with a low forecast of 67.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
12 Buy
0 Hold
0 Sell
Strong Buy
Current: 51.320
Low
67.00
Averages
88.64
High
105.00
Current: 51.320
Low
67.00
Averages
88.64
High
105.00
About CRNX
Crinetics Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead development candidate, PALSONIFY (paltusotine), is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly and carcinoid syndrome associated with neuroendocrine tumors. Its second product candidate is Atumelnant, which is in clinical development for congenital adrenal hyperplasia (CAH) and patients with either Cushing's disease or Ectopic ACTH Syndrome (EAS). Its drug candidates are orally delivered, small molecule new chemical entities resulting from in-house drug discovery efforts, including other programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves' disease, thyroid eye disease, diabetes and obesity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Crinetics Prices 7.62M Share Offering at $45.95, Raising $350M
- Offering Size: Crinetics Pharmaceuticals announced the pricing of 7.62 million shares at $45.95 each, expected to raise approximately $350 million, enhancing the company's financial capacity for future growth initiatives.
- Use of Proceeds: The proceeds will fund commercial activities related to PALSONIFY™, research and development of new product candidates, and other general corporate purposes, ensuring ongoing innovation in endocrine disease treatment.
- Underwriter Lineup: The offering is managed by Leerink Partners, J.P. Morgan, Evercore ISI, Piper Sandler, and Cantor, reflecting strong market confidence and support for Crinetics.
- Market Outlook: With its lead product PALSONIFY™ approved by the FDA, Crinetics is positioned to drive growth in the endocrine tumor treatment market, further solidifying its industry standing.
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