Deal Details
Crinetics Announces $350 Million Private Placement
Summary
Crinetics Pharmaceuticals, Inc. (“Crinetics”) (NASDAQ: CRNX) recently announced a private placement of 8,333,334 shares of common stock at a price of $42.00 per share to a select group of institutional and accredited healthcare specialist investors in an oversubscribed private placement. Gross proceeds from the offering are anticipated to be approximately $350 million, before deducting any offering related expenses.
The financing includes participation from existing institutional investors, including Adage Capital Partners L.P., Driehaus Capital Management, EcoR1 Capital, First Light Asset Management, GordonMD® Global Investments LP, Invus, Janus Henderson Investors, Paradigm BioCapital, Perceptive Advisors, Rock Springs Capital, as well as multiple leading mutual funds.
Baird served as a placement agent to Crinetics on this transaction.
About
Crinetics is a clinical stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Paltusotine, an investigational, first-in-class, oral somatostatin receptor type 2 (SST2) agonist, is in Phase III clinical development for acromegaly and Phase II clinical development for carcinoid syndrome associated with neuroendocrine tumors. Crinetics is headquartered in San Diego, California.CONTACT US TO LEARN MORE
- Date
- February 2024
- Company
- Crinetics Pharmaceuticals, Inc.
- Transaction
- Equity Capital Markets
- Sectors
- Healthcare
- Verticals
-
Biotechnology & Pharmaceuticals
- Target Geography
- North America
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