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Rare endocrine disease biotech Crinetics Pharmaceuticals sets terms for $80 million IPO


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Crinetics Pharmaceuticals, a clinical-stage biotech developing oral therapies for rare endocrine diseases, announced terms for its IPO on Monday.

The San Diego, CA-based company plans to raise $80 million by offering 5 million shares at a price range of $15 to $17. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Crinetics Pharmaceuticals would command a fully diluted market value of $380 million.

Crinetics Pharmaceuticals was founded in 2008 and plans to list on the Nasdaq under the symbol CRNX. J.P. Morgan, Leerink Partners and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of July 16, 2018.

The article Rare endocrine disease biotech Crinetics Pharmaceuticals sets terms for $80 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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