Crinetics Pharmaceuticals Inc (CRNX)

Crinetics Pharmaceuticals (CRNX) shares fell 6.70% after the company announced an offering of 11,441,648 common stock shares at $30.59 each, aiming to raise around $350 million before expenses. The offering includes an option for underwriters to buy an additional 1,716,247 shares. Funds will support research, development, and general corporate purposes, with J.P. Morgan, Morgan Stanley, Leerink Partners, Piper Sandler, and LifeSci Capital managing the offering.

https://www.globenewswire.com/news-release/2023/09/13/2742153/0/en/Crinetics-Pharmaceuticals-Announces-Pricing-of-Upsized-Public-Offering-of-Common-Stock.html