Crinetics Reports Strong Early Sales for PALSONIFY, Positive Phase 2 Data for CAH Treatment

Crinetics Pharmaceuticals Inc. is set to report fourth-quarter earnings Thursday after the market close, delivering its first results since the commercial launch of PALSONIFY, its newly approved treatment for acromegaly. The company announced PALSONIFY U.S. unaudited and preliminary net product revenue of over $5 million for fourth-quarter 2025, providing an early glimpse of commercial traction.

Analysts expect the San Diego-based biotech to post a loss of $1.34 per share on revenue of $4.0 million, representing a sequential improvement from the third quarter's loss of $1.38 per share on revenue of just $143,000. The sharp revenue jump reflects PALSONIFY's October 2025 launch as the first once-daily oral treatment approved by the FDA for adults with acromegaly. The company reported more than 200 enrollment forms in its first three months post-approval.

Phase 2 data for atumelnant, an investigational treatment for congenital adrenal hyperplasia, showed the drug achieved a 67% mean reduction in androstenedione levels, with 88% of patients able to reduce glucocorticoid doses to physiologic levels. The results showed that 25% of patients in Cohort 4 of the Phase 2 TouCAHn study have already achieved the primary composite endpoint planned for the Phase 3 trial, which analysts believe has highly derisked the upcoming late-stage study's novel endpoint design.

On January 30, Stifel raised its price target on Crinetics Pharmaceuticals Inc. to $84 from $75, while maintaining its Buy rating, noting that the company's pre-report for the fourth quarter of 2025 went better than early investor expectations for the first quarter of the launch of Palsonify. On January 23, Piper Sandler maintained a Buy rating with a price target of $97. On January 12, Goldman Sachs upgraded its stock rating to Buy from Neutral, with a $67 price target, citing positive Phase 2 clinical trial results for the company's congenital adrenal hyperplasia treatment.

Analysts remain overwhelmingly bullish on Crinetics despite mounting losses. Fifteen of 16 analysts rate the stock a strong buy, with a consensus price target of $85.00—implying 96% upside from the current price of $43.39. Revenue estimates have climbed 42% over the past 60 days, though EPS estimates have edged slightly lower, down less than 1% over the same period.

Crinetics completed a $350 million public offering in early January to fund PALSONIFY commercialization and pipeline development. The third quarter proved challenging, with Crinetics reporting an adjusted loss of $1.38 per share—worse than the $1.25 consensus estimate—and revenue of $143,000 that badly trailed forecasts of $491,000. The company's total revenue growth of 48% over the past year has been offset by widening losses, with EBITDA growth declining 56%.

The stock trades 25% below its 52-week high of $57.99, with a market capitalization of $4.45 billion and a forward price-to-earnings ratio of -9.39. Crinetics Pharmaceuticals Inc. operates as a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors.