On September 1, 2026, Crinetics Pharmaceuticals completed its merger with Vertex Pharmaceuticals, becoming a wholly owned subsidiary. Each outstanding share of Crinetics common stock was canceled and converted into the right to receive $85.00 per share in cash. The aggregate consideration paid by Vertex was approximately $10.0 billion, funded through cash on hand and borrowings under Vertex’s term loan credit agreement. Upon closing, all incumbent directors resigned, and Vertex appointed Charles Wagner as President, Prasanna Thombre as Treasurer, and Omar White as Secretary of the surviving corporation. Crinetics' common stock was delisted from Nasdaq, and its registration under Section 12(b) of the Exchange Act was terminated. Crinetics Pharmaceuticals operates in the biotechnology industry, focusing on the development of targeted therapies for inflammatory and immune-mediated diseases.

Crinetics Pharmaceuticals shareholders approved the proposed merger with Vertex Pharmaceuticals at a special meeting on August 28, 2026. The Merger Proposal received 79,240,098 votes in favor against 13,618 opposed, satisfying the final outstanding condition for closing. A separate advisory vote regarding executive compensation related to the transaction failed, receiving only 33,854,149 votes for against 44,803,403 against; however, this result is non-binding and does not impede the merger. Crinetics anticipates the closing will occur on or about September 1, 2026. The company operates in the biotechnology industry, developing therapies for rare diseases.

Crinetics Pharmaceuticals filed an 8-K to supplement its proxy statement regarding the proposed $10 billion acquisition by Vertex Pharmaceuticals. The filing discloses updated financial projections from J.P. Morgan and Leerink Partners, valuing Crinetics at $68.25–$86.00 per share via DCF analysis and confirming a merger consideration of $85.00 per share. It also reveals that the board discussed a pending derivative lawsuit alleging excessive director compensation but deemed it immaterial relative to the transaction value, and noted voluntary discussions with Vertex about potential post-merger retention of Crinetics management without committed terms. The special shareholder meeting to approve the merger is scheduled for August 28, 2026. Crinetics Pharmaceuticals operates in the biotechnology industry, developing therapies for rare diseases.

Crinetics Pharmaceuticals reports that the Hart-Scott-Rodino waiting period for its proposed merger with Vertex Pharmaceuticals expired on August 12, 2026. Additionally, antitrust approvals from Austria and Germany have been received as of August 13, 2026, while Australian approval remains pending until a waiting period expires on August 27, 2026. The transaction is contingent upon shareholder adoption at a special meeting scheduled for August 28, 2026, with closing expected in early September 2026. Crinetics Pharmaceuticals operates in the biotechnology industry and develops therapies for rare diseases.

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.

Crinetics Pharmaceuticals, Inc. entered into non-compete agreements with key employees, including CEO R. Scott Struthers, Ph.D., CFO Tobin Schilke, CSO Stephen Betz, Ph.D., and CCO Isabel Kalofonos, following its merger agreement with Vertex Pharmaceuticals Incorporated. The restricted parties will be subject to one-year non-compete restrictions for a period of one year following the merger closing date. Tobin Schilke, Stephen Betz, and Isabel Kalofonos will receive cash payments of $140,000, $30,000, and $30,000, respectively, upon the merger closing. Crinetics Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing therapeutic solutions for rare diseases.