Crinetics Q2 Revenue Soars on PALSONIFY Launch, But Guidance Pulled
CRNX has more than doubled off its 52-week low of $25.83.
Summary
Crinetics reported Q2 revenue driven by the U.S. launch of PALSONIFY for acromegaly, with 385 unique prescribers in the first three quarters. Net loss widened to $120.86 million, or $1.14 per share, on higher R&D spending. The company withdrew all prior guidance and will not provide updated forecasts, adding uncertainty. This follows the July 6 announcement of Vertex's $10 billion acquisition at $85 per share, which is expected to close in Q3 2026. The guidance withdrawal is notable given the pending deal, though the acquisition price remains the primary valuation anchor.
At the time of this announcement, CRNX was trading at $83.76 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.9B. The 52-week trading range was $25.83 to $84.00. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.