Crinetics Pharmaceuticals to Present Corporate and Clinical Update at 40th Annual J.P. Morgan Healthcare Conference

- Phase 1 multiple ascending dose data for CRN04894 and CRN04777 expected in 1Q 2022 –

- Initiation of patient dosing in a Phase 2 trial of paltusotine in carcinoid syndrome associated with neuroendocrine tumors expected in 2022 -

- Initiation of IND-enabling studies for parathyroid receptor type-1 antagonist expected in 2022 -

SAN DIEGO, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (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, today announced that Scott Struthers, Ph.D., founder & CEO of Crinetics, will provide a company update at the 40^th annual J.P. Morgan Healthcare Conference today, Wednesday, January 12^th at 4:30 PM Eastern Time / 1:30 PM Pacific Time. A live audio webcast of Dr. Struthers’ presentation may be accessed on the Events page of the company’s website.

During his presentation, Dr. Struthers will discuss Crinetics’ key priorities and anticipated milestones for 2022. These include:

• Continued progress in the two ongoing Phase 3 PATHFNDR trials of paltusotine in acromegaly. Both trials remain on track and topline data is expected in 2023.
• The initiation of patient dosing in a Phase 2 trial of paltusotine in patients with carcinoid syndrome associated with neuroendocrine tumors (NETs), which is expected in 2022.
• Reporting Phase 1 multiple ascending dose (MAD) data for CRN04894, an investigational, oral, nonpeptide adrenocorticotropic hormone (ACTH) antagonist being developed for the treatment of Cushing’s disease and congenital adrenal hyperplasia, which is expected in 1Q 2022.
• The initiation of a Phase 2 trial of CRN04894, which is expected in 2H 2022.
• Reporting Phase 1 MAD data for CRN04777, an investigational, oral, nonpeptide somatostatin receptor type 5 (SST5) agonist being developed for the treatment of congenital hyperinsulinism, which is expected in 1Q 2022.
• The initiation of a Phase 2 trial of CRN04777, which is expected in 2H 2022.
• The initiation of IND-enabling studies for a parathyroid receptor type-1 (PTHR1) antagonist, which is expected in 2022. Target indications for this program potentially include hyperparathyroidism and humoral hypercalcemia of malignancy.
  

“2021 was a transformational year for Crinetics as we achieved a number of important milestones that diversified our clinical pipeline and highlighted the strength of our drug discovery capabilities,” stated Dr. Struthers. “We advanced paltusotine into a registrational Phase 3 program and reported Phase 1 clinical proof-of-concept data for both CRN04894 and CRN04777. Each of these data announcements provided additional validation for our drug development roadmap, which aims for early de-risking through animal and healthy volunteer studies leveraging well-established endocrine biomarkers. Looking ahead, we will continue to follow this plan as we work to advance our PTHR1 antagonist program and expand our pipeline. With a talented drug discovery and development team, a steady cadence of catalysts ahead of us, and a strong balance sheet, we believe we are well positioned for sustained success."

About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals is a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company’s lead product candidate, paltusotine (formerly CRN00808), is an investigational, oral, selective nonpeptide somatostatin receptor type 2 (SST2) biased agonist for the treatment of acromegaly, an orphan disease affecting more than 26,000 people in the United States. A Phase 3 clinical program in acromegaly with paltusotine is underway. Crinetics also plans to advance paltusotine into a Phase 2 trial for the treatment of carcinoid syndrome associated with neuroendocrine tumors. The company is also developing CRN04777, an investigational, oral, nonpeptide somatostatin receptor type 5 (SST5) agonist for congenital hyperinsulinism, as well as CRN04894, an investigational, oral, nonpeptide ACTH antagonist for the treatment of Cushing’s disease, congenital adrenal hyperplasia and other diseases of excess ACTH. All of the company’s drug candidates are new chemical entities resulting from in-house drug discovery efforts and are wholly owned by the company.

Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding the ongoing Phase 3 trials of paltusotine in acromegaly and the related generation of topline data and the expected timing thereof; the potential to initiate patient dosing in a Phase 2 trial of paltusotine in patients with carcinoid syndrome due to NETs and the expected timing thereof; Crinetics’ plan to report Phase 1 MAD data for CRN04894 and CRN04777; the potential to initiate Phase 2 trials of CRN04894 and CRN04777 and the expected timing thereof; the potential to initiate IND-enabling studies for a PTHR1 antagonist, the expected timing thereof and the potential target indications of such program; and the potential to advance Crinetics’ ongoing clinical programs, bring additional therapeutic candidates into the clinic and expand Crinetics’ pipeline. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, including risks and uncertainties inherent in Crinetics’ business, including, without limitation, unexpected adverse side effects or inadequate efficacy of the company’s product candidates that may limit their development, regulatory approval and/or commercialization, the company’s dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; the success of Crinetics’ clinical trials and nonclinical studies and the other risks and uncertainties described in the company’s periodic filings with the SEC. The events and circumstances reflected in the company’s forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. Additional information on risks facing Crinetics can be found under the heading “Risk Factors” in Crinetics’ periodic reports, including its annual report on Form 10-K for the year ended December 31, 2020, filed with the SEC. Except as required by applicable law, Crinetics does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

Contacts:
Marc Wilson
Chief Financial Officer
IR@crinetics.com
(858) 450-6464

Investors / Media:
Corey Davis
LifeSci Advisors, LLC
cdavis@lifesciadvisors.com
(212) 915-2577

Aline Sherwood
Scienta Communications
asherwood@scientapr.com
(312) 238-8957