Crinetics Pharmaceuticals, Inc.'s stock (CRNX) has seen a significant increase of over 17 percent following the announcement of promising results from their Phase 3 PATHFNDR-2 studies. These studies were conducted to assess the efficacy and safety of paltusotine, an oral medication administered once daily, intended for the treatment of acromegaly. Both the primary and secondary outcomes of the study met statistical significance.
Further, Crinetics disclosed its plan to submit a New Drug Application to the U.S. Food and Drug Administration within the latter half of 2024. Crinetics' shares have experienced a rise of 17.32 percent at $44.50, a considerable leap from the previous close of $37.93 on the Nasdaq.
