Crinetics Pharmaceuticals
A biopharmaceutical company developing oral medicines and targeted drug technologies for rare endocrine diseases and related tumors.
Last updated August 22, 2026
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Overview
Crinetics Pharmaceuticals is a San Diego-based biopharmaceutical company focused on discovering and developing medicines for rare endocrine diseases, endocrine-related tumors, and selected metabolic disorders. The company was founded in 2008 by Scott Struthers, Frank Zhu, Ana Kusnetzow, and Stephen F. Betz, who had previously worked together at Neurocrine Biosciences on a small-molecule program for endometriosis. Crinetics was built around the development of orally administered, nonpeptide drugs intended to modulate clinically important hormone receptors and signaling pathways. The company’s best-known program is paltusotine, an oral, once-daily somatostatin receptor type 2 agonist developed for acromegaly. Acromegaly is a rare hormonal disorder generally caused by excessive growth hormone secretion, resulting in elevated insulin-like growth factor 1 and progressive effects on bones, organs, and metabolism. Paltusotine was first synthesized as a lead candidate in 2016 and advanced through Phase II studies during 2019–2020 and Phase III studies during 2021–2024. The program was designed to offer an oral alternative to injectable somatostatin receptor medicines and has also been evaluated in carcinoid syndrome. Crinetics became a publicly traded company through a NASDAQ initial public offering in 2018. In addition to paltusotine, its development portfolio has included oral programs addressing Cushing’s disease, hyperparathyroidism, Graves’ disease, thyroid eye disease, neuroendocrine tumors, hyperinsulinism, obesity, and polycystic kidney disease. The company has also developed nonpeptide drug conjugate technology, including CRN09682, a somatostatin receptor 2-targeted candidate intended for neuroendocrine tumors and other somatostatin receptor 2-expressing solid tumors. The company’s broader strategy combines internally discovered small molecules with partnerships and independently operated ventures. In 2021, Crinetics joined with 5AM Ventures and Frazier Healthcare Partners to establish Radionetics Oncology, a company pursuing targeted, nonpeptide radiopharmaceuticals based on G-protein-coupled receptor biology. Radionetics later entered a strategic relationship with Eli Lilly and Company in 2024, including an upfront payment and an option structure relating to a potential acquisition. Crinetics also partnered with Loyal in 2023 on a veterinary medicine program intended to extend the lifespan of large dogs, reflecting the potential application of its drug-discovery capabilities beyond human endocrine medicine. Crinetics expanded internationally in 2024 by establishing an office in Zug, Switzerland. Its pipeline at that time included several programs in investigational new drug-enabling work, including a parathyroid hormone antagonist for hyperparathyroidism, a thyroid-stimulating hormone receptor antagonist for Graves’ disease and thyroid eye disease, a somatostatin receptor 2-targeted nonpeptide drug conjugate, and a somatostatin receptor 3 agonist for autosomal dominant polycystic kidney disease. The company’s positioning is therefore centered on specialist endocrine pharmacology, oral delivery, rare-disease development, and receptor-targeted drug design rather than on a broad primary-care portfolio.
History
Crinetics Pharmaceuticals was established in 2008 by Scott Struthers, Frank Zhu, Ana Kusnetzow, and Stephen F. Betz. The founders had previously worked together at Neurocrine Biosciences on a small-molecule medicine for endometriosis. Their new company concentrated on hormone-receptor pharmacology and the development of orally administered therapies for endocrine disorders, an area in which many established treatments had historically depended on injections or other less convenient delivery methods. The company expanded its laboratory operations in 2010. After obtaining funding through National Institutes of Health grants, it moved into a second laboratory, supporting a broader research effort. In 2011, Crinetics participated in the Michelson Prize competition, sponsored by the Found Animals Foundation, which sought a low-cost, nonsurgical sterilization method for dogs and cats. Although the competition was veterinary in focus, the work contributed to the licensing of a molecule for possible treatment of acromegaly in large-breed dogs and illustrated the company’s interest in applying endocrine pharmacology across species. Crinetics’ central human therapeutic program emerged from its work on acromegaly. The company synthesized its first lead candidate for the disease and named it paltusotine in 2016. Paltusotine was developed as an oral somatostatin receptor type 2 agonist intended to reduce the hormonal abnormalities associated with acromegaly, including excessive insulin-like growth factor 1. The program progressed into Phase II trials in 2019 and 2020, followed by Phase III trials from 2021 through 2024. The company also studied paltusotine in carcinoid syndrome, another disorder associated with hormone-producing neuroendocrine tumors. In 2018, Crinetics completed an initial public offering and began trading on NASDAQ under the symbol CRNX. Public-market funding supported continued clinical development and expansion of its discovery pipeline. Beyond paltusotine, the company developed programs involving Cushing’s disease, hyperinsulinism, neuroendocrine tumors, hyperparathyroidism, Graves’ disease, thyroid eye disease, obesity, and autosomal dominant polycystic kidney disease. Atumeltnant, also identified as CRN04894, is an oral ACTH antagonist program for Cushing’s disease. Other research programs have sought to inhibit parathyroid hormone signaling or thyroid-stimulating hormone receptor activity. In 2021, Crinetics worked with 5AM Ventures and Frazier Healthcare Partners to create Radionetics Oncology as an independently operated company. Radionetics was formed to develop targeted, nonpeptide radiopharmaceuticals based on G-protein-coupled receptor targeting. In 2024, Radionetics entered a strategic relationship with Eli Lilly and Company. The reported arrangement included a $140 million upfront cash payment and an exclusive right for Lilly to acquire Radionetics for $1 billion after an exercise period. Because Radionetics was independently operated, this transaction represented an affiliated strategic development rather than a direct acquisition of Crinetics itself. Crinetics also pursued veterinary applications. In 2023, it partnered with Loyal on a pill intended to extend the lifespans of large dogs. In 2024, chief executive and co-founder Scott Struthers received an Ernst & Young Entrepreneur of the Year award for his work with Crinetics. The company was also reported to have patent activity spanning rare diseases, health technology, and addiction therapies. During the same year, it established its first office outside the United States in Zug, Switzerland. By 2025, the company described four candidates as being in investigational new drug-enabling studies: a parathyroid hormone antagonist for hyperparathyroidism, CRN09682 as a somatostatin receptor 2-targeted nonpeptide drug conjugate for neuroendocrine tumors and other solid tumors, a thyroid-stimulating hormone receptor antagonist for Graves’ disease and thyroid eye disease, and a somatostatin receptor 3 agonist for autosomal dominant polycystic kidney disease. Paltusotine remained the company’s most advanced program, having completed a second Phase III study and moved into regulatory review. The supplied reference also reports a proposed 2026 acquisition of Crinetics by Vertex Pharmaceuticals for $10 billion; that event is future-dated relative to the other supplied company history and should be independently verified before being treated as completed.
- 2025
Paltusotine regulatory review
[1]The FDA accepted the new drug application for paltusotine after a second positive Phase III study, according to the supplied reference.
- 2024
International expansion and affiliated radiopharmaceutical deal
[1]Crinetics opened a Swiss office, while Radionetics entered a strategic relationship with Eli Lilly.
- 2021
Radionetics Oncology formed
[1]Crinetics joined with 5AM Ventures and Frazier Healthcare Partners to form an independently operated radiopharmaceutical company.
- 2018
NASDAQ initial public offering
[1]Crinetics became a public company and began trading under the ticker CRNX.
- 2016
Paltusotine named
[1]Crinetics named its lead oral acromegaly candidate paltusotine.
- 2011
Michelson Prize participation
[1]The company participated in a competition seeking a low-cost, nonsurgical sterilization method for dogs and cats.
- 2010
Laboratory expansion
[1]Crinetics expanded into a larger laboratory and later moved into a second laboratory after receiving NIH grant funding.
- 2008
Company founded
[1]Scott Struthers, Frank Zhu, Ana Kusnetzow, and Stephen F. Betz founded Crinetics after working together at Neurocrine Biosciences.
Products and positioning
A specialist biopharmaceutical company using oral, nonpeptide, receptor-targeted medicines to address rare endocrine diseases and selected endocrine-related cancers.
Investigational oral endocrine medicine
Paltusotine
Paltusotine is an oral somatostatin receptor type 2 agonist developed primarily for acromegaly. Its intended pharmacological effect is to help control the hormonal abnormalities that drive elevated insulin-like growth factor 1 in the disease. The program advanced through Phase II studies in 2019–2020 and Phase III studies in 2021–2024. It has also been studied for carcinoid syndrome and was reported to have entered FDA regulatory review after a positive second Phase III study.
Investigational ACTH antagonist
Atumeltnant (CRN04894)
Atumeltnant, also known as CRN04894, is an oral antagonist program intended to reduce adrenocorticotropic hormone signaling. Crinetics has developed it for endocrine conditions including Cushing’s disease, where excessive ACTH can contribute to abnormal cortisol production. The supplied materials identify it as part of the company’s broader oral endocrine pipeline but do not provide definitive approval or commercialization information.
Nonpeptide drug conjugate
CRN09682
CRN09682 is a nonpeptide drug conjugate designed to target somatostatin receptor 2. The program is intended for neuroendocrine tumors and other solid tumors that express SST2. It represents Crinetics’ effort to combine receptor-directed targeting with a nonpeptide drug-conjugate platform developed in-house.
Investigational endocrine receptor antagonist
Parathyroid hormone antagonist program
This oral program is designed to inhibit parathyroid hormone signaling and is being developed for hyperparathyroidism. The supplied materials list it among Crinetics’ candidates in IND-enabling studies, but do not identify a final product name, clinical stage beyond pre-IND work, or regulatory outcome.
Investigational thyroid receptor antagonist
Thyroid-stimulating hormone receptor antagonist program
Crinetics is developing an oral thyroid-stimulating hormone receptor antagonist for Graves’ disease and thyroid eye disease. The program is intended to address diseases in which abnormal thyroid receptor activity contributes to systemic or orbital manifestations. The supplied reference identifies it as an IND-enabling candidate without providing a confirmed commercial name.
Investigational receptor agonist
Somatostatin receptor 3 agonist program
This program is described as a somatostatin receptor 3 agonist being investigated for autosomal dominant polycystic kidney disease. It is one of four candidates identified in the supplied materials as being in IND-enabling studies. No final product name or clinical development result is provided.
Marketing campaigns
- 2011Michelson Prize participation
United States
Crinetics competed in the Michelson Prize, a challenge focused on developing a low-cost, nonsurgical sterilization method for dogs and cats. The work was connected with a later licensing opportunity involving a molecule for possible treatment of acromegaly in large-breed dogs.
Outcome. The supplied material does not state that Crinetics won the competition; it identifies a subsequent veterinary licensing connection.
Brand decisions
2025
Paltusotine regulatory submissionProduct launchBackground
Paltusotine advanced after a second Phase III study in acromegaly.
Action taken
The FDA accepted Crinetics’ new drug application, and a Prescription Drug User Fee Act date was reported for September 25, 2025.
Aftermath
The supplied source describes a planned 2025 launch but does not establish final FDA approval or commercial availability.
2024
Radionetics–Eli Lilly strategic relationshipM&ABackground
Radionetics sought a larger pharmaceutical partner for its proprietary GPCR-targeting small-molecule radiopharmaceutical platform.
Action taken
Radionetics entered a strategic agreement with Eli Lilly that included an upfront cash payment and an option for Lilly to acquire Radionetics after an exercise period.
Aftermath
The agreement gave Lilly an exclusive acquisition right reportedly valued at $1 billion if exercised; the supplied materials do not confirm whether the option was exercised.
Upfront payment; potential acquisition value. $140 million upfront; $1 billion potential acquisition (2024 agreement)
2024
Swiss office openingStrategyBackground
Crinetics sought to establish an international operating presence as its clinical and business activities expanded.
Action taken
The company opened its first office outside the United States in Zug, Switzerland.
Aftermath
The supplied sources do not describe the office’s staffing, specific functions, or subsequent expansion.
2023
Veterinary longevity partnershipStrategyBackground
Crinetics explored an application of its drug-development capabilities in veterinary medicine.
Action taken
The company partnered with Loyal on an oral product intended to extend the lifespans of large dogs.
Aftermath
The supplied material does not provide a later development or regulatory outcome.
2021
Formation of Radionetics OncologyStrategyBackground
The partners sought to apply GPCR-targeting small-molecule expertise to radiopharmaceutical oncology programs.
Action taken
Crinetics, 5AM Ventures, and Frazier Healthcare Partners formed Radionetics Oncology as an independently operated company.
Aftermath
Radionetics later established a strategic relationship with Eli Lilly in 2024.
2018
Initial public offeringOtherBackground
Crinetics needed public-market capital to support clinical development of paltusotine and its broader endocrine research pipeline.
Action taken
The company completed an initial public offering and listed on NASDAQ under CRNX.
Aftermath
Crinetics continued advancing paltusotine and expanding its portfolio of rare-disease programs as a public company.
Recent events
Crinetics appoints Garlan Adams as general counsel[3]
Reported:
Crinetics Pharmaceuticals announced the appointment of Garlan Adams to the newly created role of general counsel.
Sources3 sources
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