Mergers & Acquisitions ·
Crinetics Pharmaceuticals announced that Vertex Pharmaceuticals will acquire the company for $85.00 per share in cash…
CRNXCrinetics Pharmaceuticals, Inc.
Crinetics Pharmaceuticals announced that Vertex Pharmaceuticals will acquire the company for $85.00 per share in cash, representing a total equity value of approximately $10.0 billion or $8.8 billion net of estimated cash acquired. The transaction was unanimously approved by both boards and is expected to close in the third quarter of 2026, subject to regulatory approvals and stockholder consent. For the second quarter ended June 30, 2026, Crinetics reported total revenue of $25.1 million, driven by $24.0 million in net product revenue from its commercial launch of PALSONIFY for acromegaly. The company recorded a net loss of $120.9 million and held $1.2 billion in cash, equivalents, and investment securities as of June 30, 2026. Crinetics is a global pharmaceutical company focused on discovering, developing, and commercializing novel therapeutics for endocrine diseases and endocrine-related tumors.