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Stock News Alert: Crinetics Pharmaceuticals (NASDAQ:CRNX)

Crinetics Pharmaceuticals (NASDAQ:CRNX) moved -0.84% to recent value of $15.35. The stock transacted 234406 shares during most recent day however it has an average volume of 100.12K shares. It spotted trading -46.71% off 52-week high price. On the other end, the stock has been noted 44.40% away from the low price over the last 52-weeks.

On April 17, 2020, Crinetics Pharmaceuticals (NASDAQ:CRNX) a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, notified that it has closed its previously announced underwritten public offering of 8,222,500 shares of its common stock, including 1,072,500 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, at a price to the public of $14.00 per share. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $115.1 million.

Crinetics intends to use the net proceeds from the offering to fund the development of paltusotine and its other research and development programs, and for working capital and general corporate purposes.

Its earnings per share (EPS) expected to touch remained -86.10% for this year.  The company has 23.32M of outstanding shares and 20.61M shares were floated in the market. According to the most recent quarter its current ratio was 14.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 8.17% from the mean of 20 days, -12.39% from mean of 50 days SMA and performed -20.54% from mean of 200 days price. Company’s performance for the week was 11.23%, 32.67% for month and YTD performance remained -38.82%.

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