Crinetics Pharmaceuticals Prepares $80M IPO
Tuesday, July 10, 2018
San Diego-based Crinetics Pharmaceuticals laid out terms for a planned initial public offering in paperwork filed July 9.
Crinetics plans to raise $80 million by offering five million shares of common stock, expected to price in the range of $15 to $17 per share. A midpoint price would generate $80 million in proceeds.
The company is developing a pipeline for endocrine-related cancers and endocrine disorders.
Crinetics, which plans to list under the Nasdaq symbol CRNX, raised $63.5 million in March through a Series B financing round.
The company reported 34 full-time employees as of June 30.