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Dec 31, 2025
Crinetics Q4 2025 Earnings Report
Crinetics reported fourth quarter 2025 revenue of 6161000 and a net loss of 122815000 as commercial launch expenses increased.
Key Takeaways
Crinetics generated 6161000 in Q4 revenue driven by the U.S. launch of PALSONIFY, while reporting a net loss of 122815000 as R&D and commercial infrastructure investments increased significantly year-over-year.
Total revenue was 6161000 including 5420000 in net product revenue from PALSONIFY
Research and development expenses increased to 85053000 from 66566000 year-over-year
Selling, general and administrative expenses rose to 53698000 from 28179000 year-over-year
Net loss widened to 122815000 compared to 80595000 in Q4 2024
Revenue by Segment
Forward Guidance
For 2026, Crinetics expects GAAP operating expenses between 600000000 and 650000000 and non-GAAP operating expenses between 480000000 and 520000000.
Positive Outlook
- 2026 GAAP operating expense guidance of 600000000 to 650000000
- 2026 non-GAAP operating expense guidance of 480000000 to 520000000
- Strong early PALSONIFY launch momentum
- Advancement of multiple pivotal trials
- Approximately 1400000000 in cash, cash equivalents and investments post offering
Challenges Ahead
- Substantial operating expense growth expected in 2026
- Continued significant net losses
- High R&D spending to support late-stage programs
- Ongoing commercialization infrastructure investments
Historical Earnings Impact
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Avg. Return Before/After Earnings
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