Latham & Watkins Advises Crinetics Pharmaceuticals in Upsized US$350 Million Public Offering

Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors, has announced the pricing of an upsized underwritten public offering of 11,441,648 shares of its common stock at a price to the public of US$30.59 per share. All of the shares to be sold in the offering are to be sold by Crinetics. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately US$350 million. In addition, Crinetics has granted the underwriters a 30-day option to purchase up to an additional 1,716,247 shares of common stock. The offering is expected to close on or about September 15, 2023, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP advised Crinetics in the offering with a corporate team led by San Diego partners Kevin Reyes, Matt Bush, and Cheston Larson, with associates Shelby Harrison, Emilie McConnachie, and Sterling Swift.