CRNX is no longer listed. Its last trade on record was Sep 2, 2026. The price and figures on this page are from its last trading day and final filings, and are no longer updated.
Revenue surged 640% YoY to $7.7M TTM, but this is milestone-driven and non-recurring, as quarterly revenue fluctuates from $143K to $25.1M, while operating margins remain deeply negative at -5.3% in Q2 2026 due to R&D expenses that grew 87% since Q1 2024.
Crinetics Pharmaceuticals, Inc. (CRNX) annual income statement — 10-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Sales/Revenue | 42.16M | 7.7M | 1.04M | 4.01M | 4.74M | 1.08M | 71K | 1.19M | 2.43M | 2.04M | 589K |
| Revenue Growth % | - | 640.71% | -74.11% | -15.28% | 339.42% | 1418.31% | -94.05% | -50.86% | 18.73% | 247.2% | - |
| Cost of Goods Sold | 354K | 1.08M | 0 | 0 | 0 | 0 | 57M | 1.11M | 24.48M | 9.23M | 5.1M |
| COGS % of Revenue | - | 13.98% | - | - | - | - | 80278.87% | 93.29% | 1008.2% | 451.49% | 865.87% |
| Gross Profit | 41.8M | 6.62M | 1.04M | 4.01M | 4.74M | 1.08M | -56.93M | 80K | -22.05M | -7.19M | -4.51M |
| Gross Margin % | - | 86.02% | 100% | 100% | 100% | 100% | -80178.87% | 6.71% | -908.2% | -351.49% | -765.87% |
| Gross Profit Growth % | - | 537.15% | -74.11% | -15.28% | 339.42% | 101.89% | -71258.75% | 100.36% | -206.78% | -59.34% | - |
| Operating Expenses | 590.89M | 523.39M | 339.89M | 226.62M | 172.62M | 108.78M | 18.03M | 53.83M | 28.71M | 9.13M | 6.04M |
| OpEx % of Revenue | - | 6800.79% | 32713.47% | 5647.17% | 3644.06% | 10090.91% | 25388.73% | 4512.32% | 1182.45% | 446.31% | 1026.15% |
| Selling, General & Admin | 214.37M | 191.33M | 99.74M | 58.09M | 42.39M | 24.52M | 18.03M | 13.52M | 6.66M | 1.94M | 1.53M |
| SG&A % of Revenue | - | 2486.11% | 9599.33% | 1447.65% | 894.95% | 2275.05% | 25388.73% | 1133.19% | 274.26% | 94.82% | 260.27% |
| Research & Development | 375.45M | 332.06M | 240.16M | 168.53M | 130.22M | 84.25M | 57.6M | 41.51M | 24.48M | 9.23M | 5.1M |
| R&D % of Revenue | - | 4314.68% | 23114.15% | 4199.53% | 2749.1% | 7815.86% | 81123.94% | 3479.13% | 1008.2% | 451.49% | 865.87% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | -57.6M | -1.19M | 1.59M | -48K | -1K |
| Operating Income | -549.09M | -516.77M | -338.85M | -222.61M | -167.88M | -107.7M | -74.95M | -53.83M | -28.71M | -9.13M | -6.04M |
| Operating Margin % | - | -6714.77% | -32613.47% | -5547.17% | -3544.06% | -9990.91% | -105567.61% | -4512.32% | -1182.45% | -446.31% | -1026.15% |
| Operating Income Growth % | - | -52.5% | -52.22% | -32.6% | -55.88% | -43.69% | -39.23% | -87.5% | -214.56% | -51.01% | - |
| EBITDA | -544.85M | -512.88M | -336.07M | -221.51M | -166.9M | -106.78M | -74M | -52.72M | -28.24M | -9M | -5.95M |
| EBITDA Margin % | - | -6664.23% | -32345.43% | -5519.81% | -3523.31% | -9905.38% | -104232.39% | -4419.03% | -1163.06% | -440.05% | -1010.53% |
| EBITDA Growth % | - | -52.61% | -51.72% | -32.72% | -56.3% | -44.29% | -40.38% | -86.69% | -213.8% | -51.19% | - |
| D&A (Non-Cash Add-back) | 4.24M | 3.89M | 2.79M | 1.1M | 983K | 922K | 948K | 1.11M | 471K | 128K | 92K |
| EBIT | -513.03M | -465.14M | -298.41M | -214.53M | -163.92M | -107.64M | -74.95M | -53.83M | -27.11M | -9.15M | -6.01M |
| Net Interest Income | 48.39M | 51.99M | 41.44M | 13.44M | 4.32M | 157K | 991K | 3.46M | 0 | 18K | 26K |
| Interest Income | 48.39M | 51.99M | 41.44M | 13.44M | 4.32M | 157K | 991K | 3.46M | 1.75M | 26K | 37K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8K | 11K |
| Other Income/Expense | 47.66M | 51.63M | 40.45M | 8.08M | 3.96M | 61K | 1.14M | 3.41M | 1.59M | -30K | 25K |
| Pretax Income | -501.43M | -465.14M | -298.41M | -214.53M | -163.92M | -107.64M | -73.81M | -50.42M | -27.11M | -9.16M | -6.02M |
| Pretax Margin % | - | -6043.88% | -28720.69% | -5345.85% | -3460.38% | -9985.25% | -103960.56% | -4226.49% | -1116.76% | -447.78% | -1021.9% |
| Income Tax | 180K | 180K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -40K | 10K |
| Effective Tax Rate % | -0.04% | -0.04% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.44% | -0.17% |
| Net Income | -501.61M | -465.32M | -298.41M | -214.53M | -163.92M | -107.64M | -73.81M | -49.53M | -27.11M | -9.16M | -6.02M |
| Net Margin % | - | -6046.22% | -28720.69% | -5345.85% | -3460.38% | -9985.25% | -103960.56% | -4152.14% | -1116.76% | -447.78% | -1021.9% |
| Net Income Growth % | - | -55.93% | -39.1% | -30.88% | -52.28% | -45.83% | -49.01% | -82.68% | -196.11% | -52.13% | - |
| Net Income (Continuing) | -501.61M | -465.32M | -298.41M | -214.53M | -163.92M | -107.64M | -73.81M | -50.42M | -27.11M | -9.16M | -6.02M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | - | -4.95 | -3.69 | -3.69 | -3.15 | -2.80 | -2.42 | -2.05 | -2.23 | -0.66 | -0.43 |
| EPS Growth % | - | -34.15% | 0% | -17.14% | -12.5% | -15.7% | -18.05% | 8.07% | -237.88% | -53.49% | - |
| EPS (Basic) | - | -4.95 | -3.69 | -3.69 | -3.15 | -2.80 | -2.42 | -2.05 | -2.23 | -0.66 | -0.43 |
| Diluted Shares Outstanding | 105.56M | 94.06M | 80.78M | 58.07M | 51.98M | 38.44M | 30.45M | 24.18M | 12.14M | 13.88M | 13.88M |
| Basic Shares Outstanding | 105.56M | 94.06M | 80.78M | 58.07M | 51.98M | 38.44M | 30.45M | 24.18M | 12.14M | 13.88M | 13.88M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CRNX stock.
For fiscal year 2025, Crinetics Pharmaceuticals, Inc. (CRNX) reported total revenue of $7.7M. This represents a 1206.6% increase compared to $0.6M in 2016.
Crinetics Pharmaceuticals, Inc. (CRNX) reported a net loss of $465.3M for the fiscal year ending 2025.
Crinetics Pharmaceuticals, Inc. (CRNX) reported an operating income of $-516.8M, resulting in an operating profit margin of -6714.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Crinetics Pharmaceuticals, Inc. (CRNX) generated $6.6M in gross profit for the year, representing a gross profit margin of 86.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Cash runway under 12 months
Metrics are mathematically derived from official filings.
Milestone-Driven Revenue Spike
According to the latest quarterly data, CRNX's revenue surged 640% year-over-year to $7.7M TTM, but this appears to be milestone-driven, not recurring, as quarterly figures fluctuate wildly from $143K to $25.1M.
The 2026Q2 revenue of $25.1M represents a 134% sequential jump from the prior quarter, likely reflecting a one-time collaboration milestone rather than sustainable commercial sales. Excluding this quarter, revenue has been minimal, with 2025Q3 at just $143K. This lumpiness suggests that investors should not extrapolate growth; the underlying business remains pre-revenue and dependent on partnership payments.
Gross Margin Artifact, Operating Loss Deepens
Reported gross margins hover near 100% because COGS is negligible, but operating margins remain deeply negative, at -5.3% in 2026Q2, reflecting the massive R&D and SG&A investment required to advance the pipeline.
The near-100% gross margin is an artifact of recognizing milestone revenue with minimal associated costs, not a reflection of future commercial profitability. Operating losses have widened from -$73.5M in 2024Q1 to -$132.5M in 2026Q2, driven by escalating R&D expenses as the company moves toward Phase 3 and potential commercialization. This underscores that the current margin profile is irrelevant to long-term value; the key is whether the pipeline can generate future product sales.
R&D Scaling Outpaces Revenue
Operating leverage is negative: R&D expenses grew 87% from 2024Q1 to 2026Q2, while revenue remains negligible, causing operating losses to expand by 80% over the same period, as per the income statement data.
The company is in a heavy investment phase, with R&D spend rising from $53.3M in 2024Q1 to $99.8M in 2026Q2, a near-doubling. SG&A has also grown from $20.8M to $57.6M, reflecting expansion of administrative and commercial-readiness activities. This is typical for a late-stage biotech, but it means that operating leverage will only materialize if Paltusotine and other pipeline assets achieve commercial success; until then, losses will continue to widen.
SBC and Milestones Distort Net Loss
Net losses are heavily influenced by non-cash stock-based compensation, which totaled $24.9M in 2026Q2 alone, and by the timing of milestone revenue, making reported EPS less indicative of cash burn, as disclosed in financial statements.
SBC has risen from $13.5M in 2024Q1 to $24.9M in 2026Q2, representing a significant portion of operating expenses. This non-cash charge inflates reported losses but does not affect cash runway directly. Additionally, the $25.1M revenue in 2026Q2 is likely a milestone payment, which is non-recurring; adjusting for these items, the underlying cash burn is more consistent with the operating loss trend. Investors should focus on cash flow from operations to gauge true liquidity.
R&D Dominates Cost Structure
R&D is the primary cost driver, accounting for 63% of total operating expenses in 2026Q2, with SG&A also rising sharply, reflecting investments in clinical trials and commercial infrastructure, as per the latest quarterly report.
R&D expenses have grown consistently, from $53.3M in 2024Q1 to $99.8M in 2026Q2, driven by late-stage trials and pipeline expansion. SG&A has also increased from $20.8M to $57.6M, indicating early commercial preparation. Management appears disciplined in allocating capital to high-potential programs, but the pace of spending suggests that the company will need additional financing before reaching profitability.
PATHFNDR-1 Success Marks Turning Point
The most significant inflection occurred in 2025 when positive PATHFNDR-1 Phase 3 data de-risked Paltusotine, leading to a surge in revenue from milestone payments and a step-up in R&D investment, as evidenced by the financial data.
Following the PATHFNDR-1 success, revenue jumped from near-zero levels to $6.2M in 2025Q4 and $25.1M in 2026Q2, likely reflecting milestone payments from partners. Concurrently, R&D spending accelerated, indicating the company is advancing toward NDA submission and preparing for commercialization. This inflection has lasting impacts: it validates the platform and increases the likelihood of future partnerships, but it also raises the stakes for successful execution in the upcoming PATHFNDR-2 trial.
Cash Burn Threatens Dilution
With only $101.5M in cash and a quarterly operating loss of $132.5M, CRNX appears to have less than one year of runway, implying an imminent need for dilutive financing, based on the latest balance sheet data.
The company's cash position is insufficient to sustain its current burn rate, which is accelerating as R&D and SG&A costs rise. Even if the $25.1M revenue in 2026Q2 is a milestone payment, it is non-recurring, and the underlying cash burn remains high. This suggests that CRNX will likely need to raise capital through equity offerings or partnerships, which could dilute existing shareholders. Additionally, the reliance on a single pivotal trial for Paltusotine creates binary risk; any setback could severely impair the company's ability to fund operations.