Reported Earlier, Crinetics Pharmaceuticals Prices $500M Upsized Public Offering Of 10M Common Shares At $50/Share
Portfolio Pulse from Benzinga Newsdesk
Crinetics Pharmaceuticals has announced a $500 million upsized public offering of 10 million common shares at $50 per share. The proceeds will be used for R&D, pre-commercialization activities, and potentially for acquisitions or investments.
October 09, 2024 | 6:07 am
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Crinetics Pharmaceuticals has priced a $500 million upsized public offering of 10 million common shares at $50 each. The funds will support R&D, pre-commercialization, and potential acquisitions.
The successful pricing of the public offering indicates strong investor interest, which is positive for the stock. The use of proceeds for R&D and potential acquisitions suggests growth opportunities, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100