Quick Take
Crinetics Pharmaceuticals (CRNX) intends to raise $80 million from the sale of its common stock in a U.S. IPO, according to an amended registration statement.
The company is developing a pipeline of treatment candidates for rare endocrine disorders.
CRNX has achieved promising Phase 1 trial results (in healthy patients) and the firm is highly focused on its development activities.
The IPO valuation is within a reasonable range for early to mid-stage biopharmas, although the potential market sizes for its pipeline may be somewhat attenuated.
Company & Technology
The San Diego,