StockNews.AI
CRNX
StockNews.AI
8 days

Crinetics Pharmaceuticals Announces August 2025 Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

1. Crinetics granted stock options and RSUs to attract new employees. 2. 75,850 stock options and 53,400 RSUs were awarded under the 2021 Inducement Plan. 3. Options have an exercise price of $26.85 per share. 4. New hires are critical for Crinetics' development of endocrine therapeutics. 5. Paltusotine is in clinical development for acromegaly and neuroendocrine tumors.

5m saved
Insight
Article

FAQ

Why Bullish?

The issuance of stock options and RSUs suggests positive growth intentions. Historical patterns indicate companies enhancing talent often see stock price stability or appreciation, as seen in similar biotech firms.

How important is it?

The article highlights key human capital investment that could facilitate drug development, essential for CRNX's progression. Positive employee stock awards often enhance morale and productivity, contributing to long-term success.

Why Long Term?

The strategic hiring of personnel aligns with future product developments, likely impacting CRNX's success over time. Previous examples show that hiring key talent can lead to breakthroughs that ultimately enhance company valuation.

Related Companies

VRTXALNYSRPT
August 11, 2025 16:05 ET  | Source: Crinetics Pharmaceuticals, Inc. SAN DIEGO, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Crinetics Pharmaceuticals, Inc. (Nasdaq: CRNX) today announced that on August 10, 2025, the Compensation Committee of the Board of Directors granted non-qualified stock option awards to purchase an aggregate of 75,850 shares of its common stock and granted an aggregate of 53,400 restricted stock unit (“RSU”) awards to 27 new non-executive employees, in each case, under the Crinetics Pharmaceuticals, Inc. 2021 Employment Inducement Incentive Award Plan (the “2021 Inducement Plan”). The stock options and RSUs were granted as inducements material to the employees entering into employment with Crinetics in accordance with Nasdaq Listing Rule 5635(c)(4). The 2021 Inducement Plan is used exclusively for granting equity awards to individuals who were not previously employees of Crinetics, or following a bona fide period of non-employment, as an inducement material to such individuals’ entering into employment with Crinetics, pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $26.85 per share, which is equal to the closing price of Crinetics’ common stock on the Nasdaq Global Select Market on August 8, 2025. The shares subject to the stock options will vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the shares vesting in a series of 36 successive equal monthly installments thereafter, subject to each employee’s continued employment with Crinetics on such vesting dates. The RSUs will vest over four years in equal annual installments beginning on the one-year anniversary of the applicable vesting commencement date, also subject to each employee’s continued employment with Crinetics on such vesting dates. The stock option and RSU awards are subject to the terms and conditions of the 2021 Inducement Plan and the terms and conditions of an applicable stock option award agreement or RSU award agreement covering the respective grant. About Crinetics Pharmaceuticals Crinetics Pharmaceuticals is a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors. Crinetics’ lead development candidate, PALSONIFY (paltusotine), is the first investigational once-daily, oral, selective somatostatin receptor type 2 (SST2) nonpeptide agonist that is in clinical development for acromegaly. Paltusotine is also in clinical development for carcinoid syndrome associated with neuroendocrine tumors. Atumelnant is currently in development for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome. All of the company’s drug candidates are orally delivered, small molecule, new chemical entities resulting from in-house drug discovery efforts, including additional discovery programs addressing a variety of endocrine conditions such as hyperparathyroidism, polycystic kidney disease, Graves’ disease (including thyroid eye disease), diabetes, obesity and GPCR-targeted oncology indications. Investors: Gayathri DiwakarHead of Investor Relationsgdiwakar@crinetics.com(858) 345-6340 Media: Natalie BadilloHead of Corporate Communications nbadillo@crinetics.com (858) 450-6464

Related News