(RTTNews) - Crinetics Pharmaceuticals, Inc. (CRNX) announced pricing of upsized underwritten public offering of 10 million common shares at $50.00 per share. The offering is expected to close on or about October 10, 2024.
Crinetics also granted the underwriters a 30-day option to purchase up to an additional 1.5 million common shares. The company expects offering gross proceeds, before expenses, to be $500.0 million.
Crinetics intends to use offering net proceeds, together with cash, cash equivalents and investment securities, to fund research and development, other research programs, pre-commercialization activities and other general corporate purposes.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
