Crinetics Pharma Stock Rises On Announcement Of Positive Data From Phase 3 Studies Of Paltusotine

(RTTNews) - Stock of Crinetics Pharmaceuticals, Inc. (CRNX) is rising over 17 percent on Tuesday following the announcement of positive results from Phase 3 PATHFNDR-2 studies evaluating the efficacy and safety of oral, once-daily investigational paltusotine for the treatment of acromegaly.

The company stated that statistical significance of primary and secondary endpoints were met in the study.

Crinetics also said that it plans to submit a New Drug Application to the U.S. Food and Drug Administration in the second half of 2024.

Currently, Crinetics' stock is rising 17.32 percent, to $44.50 over the previous close of $37.93 on the Nasdaq.