Crinetics (CRNX) shares jump as $350 million stock sale clears and early PALSONIFY revenue hits
Crinetics shares jumped 16% to $53.40 after the company priced a $350 million stock offering at $45.95 per share and reported over $5 million in preliminary Q4 revenue from newly launched PALSONIFY. The company also posted Phase 2 data for atumelnant in CAH, showing a 67% reduction in androstenedione and steroid tapering in most patients.