CRNX Earnings Prediction
The chart below shows how CRNX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CRNX sees a -1.73% change in stock price 10 days leading up to the earnings, and a -0.74% change 10 days following the report. On the earnings day itself, the stock moves by +0.89%. This data can give you a slight idea of what to expect for the next quarter's release.
CRNX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
0.00
-100.00%
-100.00%
Gross Margin
--
--
--
Operating Margin
-23494.61%
37.84%
13.24%
Net Margin
-20963.72%
26.24%
12.95%
EPS
-0.96
-4.95%
2.13%
No Data Available
CRNX Earnings Analysis
Crinetics Pharmaceuticals, Inc. Corporation (CRNX.O) Earnings Conference Call
Positive
Cash and Investments Overview: Crinetics ended the third quarter with approximately $863 million in cash and investments.
Public Offering Success: The company completed a $575 million public offering that closed after the end of the third quarter, strengthening its financial position.
Increased R&D Investment: Research and development expenses were $61.9 million for the quarter ended September 30, 2024, compared to $43.8 million for the same period in 2023, indicating increased investment in product development.
R&D Expense Increase: The increase in R&D expenses was primarily driven by higher personnel costs, outside services, and manufacturing activities, reflecting the advancement of the palutusotine and atumelnant development programs.
Endocrine-Focused Pharmaceutical Leadership: Crinetics continues to be well positioned to become the premier fully integrated, endocrine-focused global pharmaceutical company.
Negative
Quarterly Revenue Comparison: The company reported no revenues for the quarter ended September 30, 2024, compared to $0.3 million for the same period in 2023.
R&D Expense Increase: Research and development expenses were $61.9 million for the quarter ended September 30, 2024, compared to $43.8 million for the same period in 2023, indicating a significant increase in costs.
Rising Administrative Expenses: General and administrative expenses were $25.9 million, compared to $15.5 million for the same period in 2023, reflecting a substantial rise in operational costs.
Quarterly Net Loss Increase: Net loss for the quarter ended September 30, 2024, was $76.8 million, compared to a net loss of $57.5 million for the same period in 2023, showing a worsening financial position.
Increased Cash Burn: Net cash used for operating activities for the quarter ended September 30, 2024, was $62.8 million, indicating increased cash burn compared to previous periods.
CRNX FAQs
How does CRNX typically perform around its earnings report dates?
Is Crinetics Pharmaceuticals, Inc. (CRNX) Q3 2024 Earnings Call Summary positive or negative?
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CRNX Earning Call Sentiment
Crinetics Pharmaceuticals, Inc. (CRNX) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CRNX.O
7.74%Positive
The earnings call showed mixed signals. Financially, the company has strengthened its cash position through a significant equity offering, but it reported a net loss and increased expenses. The absence of revenue and regulatory uncertainties pose risks. The Q&A section highlighted management's reluctance to provide specific timelines, which may raise investor concerns. However, the launch preparation for paltusotine and a strong cash position are positives. Considering the market cap, a neutral stock price movement is expected in the short term.
