Short answer
Crinetics Pharmaceuticals, Inc. (CRNX) filed its Q2 2026 10-Q quarterly report on Aug 3, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $25M (up 2336.3% year over year) with net income of −$121M.
Q2 2026 key financials · XBRL
- Revenue
- $25M
- +2336.3% YoY · +134.0% QoQ
- Net income
- −$121M
- −4.5% YoY · +5.5% QoQ
- Operating margin
- -527.3%
- EPS (diluted)
- −$1.14
- +7.3% YoY · +7.3% QoQ
Source: XBRL data from the Crinetics Pharmaceuticals, Inc. (CRNX) Q2 2026 10-Q on SEC EDGAR. USD.
Crinetics Pharmaceuticals, Inc. Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $25.1M, up $24.1M YoY, driven by PALSONIFY product revenue of $24.0M
- Net loss $120.9M vs $115.6M YoY; operating loss $132.5M vs $129.1M
- Atumelnant R&D $24.8M, up $13.6M YoY; paltusotine R&D $13.7M, down $0.8M
- Cash, equivalents and investments $1.21B vs $1.03B at December 31, 2025; operating cash use $218.9M
- Management expects resources sufficient for at least twelve months; Merger expected to close in third quarter 2026
Risk Factors
- Pending Vertex merger, triggered by July 6, 2026 Merger Agreement, represents the quarter’s newly added risk
- Regulatory closing risk, including HSR Act waiting-period expiration and foreign clearances, could delay completion beyond third quarter 2026
- Merger termination could require approximately $350.5 million payment to Vertex
- Merger restrictions may prevent pursuing competing proposals or attractive business opportunities
- Employee retention risk from uncertainty over post-merger roles could impair execution during the transaction period
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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