Crinetics Pharmaceuticals Shares Rise 17% After Soaring Monday

By Jeffrey T. Lewis

Crinetics Pharmaceuticals shares rose 17% a day after they rocketed higher following the announcement of a successful study of a growth hormone treatment.
Shares reached $30.46 and were up 43% from the end of last year through Monday’s close.

Crinetics said Sunday its medication achieved primary and secondary endpoints in a study evaluating treatment of acromegaly, sending the share price soaring 64% on Monday.
The company said Monday that it plans to sell $250 million of its stock, and will give the offering’s underwriters an option to sell another $37.5 million worth of shares.
Write to Jeffrey T. Lewis at [email protected]