Crinetics Pharmaceuticals Plans Proposed Public Offering Of $250M Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Crinetics Pharmaceuticals is planning a public offering of $250M of common stock. The proceeds will be used to fund the development of paltusotine, CRN04894 and other research and development programs, as well as for working capital and general corporate purposes.
September 11, 2023 | 8:02 pm
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Crinetics Pharmaceuticals' planned public offering could dilute existing shares, potentially leading to a short-term decrease in stock price. However, the funds raised will support R&D, which could have long-term benefits.
Public offerings often lead to share dilution, which can decrease the stock price in the short term. However, the funds raised will be used for R&D and corporate purposes, which could strengthen the company's position in the long term.
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