Endocrine Diseases-Focused Crinetics Pharmaceuticals Highlights Favorable Initial Findings From Mid-Stage Study
Portfolio Pulse from Vandana Singh
Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) reported positive initial results from its Phase 2 study of paltusotine for carcinoid syndrome. The study showed significant reductions in bowel movement frequency and flushing episodes, with a well-tolerated safety profile and no severe adverse events. The company plans to discuss Phase 3 program design with the FDA after completing the study next quarter. CRNX shares rose 10.50% to $36.75.
December 19, 2023 | 5:51 pm
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Crinetics Pharmaceuticals Inc's stock rose 10.50% after reporting favorable initial findings from its Phase 2 study of paltusotine for carcinoid syndrome.
The positive initial findings from the Phase 2 study of paltusotine are likely to instill investor confidence in the potential of the drug and Crinetics Pharmaceuticals' pipeline. The absence of severe adverse events and the drug's efficacy in reducing symptoms of carcinoid syndrome could be seen as indicators of the drug's potential for successful commercialization, pending further trials and FDA approval. The immediate positive reaction in stock price reflects the market's optimism about these results.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100