Crinetics soars after Vertex agrees to buy drugmaker in $10 billion deal

Crinetics Pharmaceuticals

06/07/2026 21:38

** Shares of Crinetics Pharmaceuticals CRNX.O more than double to $84.69 in extended trading 
** Vertex Pharmaceuticals VRTX.O has agreed to acquire CRNX for $85.00 per share in cash for a total equity value of about $10 billion
** Shares of Vertex down 2.8% at $514.75 in extended trading
** The transaction was unanimously approved by both the companies' boards of directors and is anticipated to close in Q3 2026
** Up to last close, CRNX down ~10%, while VRTX up ~17% this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))