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Why Crinetics Pharmaceuticals Stock Was Sliding on Friday

The Motley Fool Logo The Motley Fool By Eric Volkman
Why Crinetics Pharmaceuticals Stock Was Sliding on Friday

Crinetics Pharmaceuticals reported Q3 earnings with lower-than-expected revenue and increased net losses, despite receiving FDA approval for its acromegaly treatment Palsonify and securing a licensing agreement with Sanwa Kagaku Kenkyusho.

Insights
CRNX   negative

Stock dropped 8.03% due to missing analyst revenue expectations and increased net losses, despite positive developments like FDA drug approval and new licensing agreement