Quarterly ResultMay 7, 2026, 04:26 PM
Crinetics Q1 Revenue $10.7M; PALSONIFY Sales $10.3M; Net Loss $127.8M
AI Summary
Crinetics Pharmaceuticals reported Q1 2026 financial results, with total revenue reaching $10.7 million, significantly up from $0.4 million in Q1 2025. This includes $10.3 million in net product revenue from PALSONIFY, reflecting strong adoption with 232 enrollment forms and 263 unique prescribers. The company also announced European approval for PALSONIFY, submitted MAAs in Brazil and Japan, and initiated a Phase 2/3 trial for BALANCE-CAH, while preparing for a pivotal trial for atumelnant. Despite increased R&D and SG&A expenses leading to a net loss of $127.8 million, the company ended the quarter with $1.3 billion in cash and investments.
Key Highlights
- PALSONIFY net product revenue was $10.3 million in Q1 2026.
- Total revenue for Q1 2026 was $10.7 million, up from $0.4 million in Q1 2025.
- Net loss for Q1 2026 was $127.8 million, compared to $96.8 million in Q1 2025.
- Research and development expenses increased to $100.1 million in Q1 2026.
- Selling, general and administrative expenses were $50.8 million in Q1 2026.
- Cash, cash equivalents, and investments totaled $1.3 billion as of March 31, 2026.
- PALSONIFY received 232 enrollment forms in Q1 2026.
- European Commission approved PALSONIFY in April 2026.