Crinetics gains after TD Cowen starts with 'buy' on optimism for lead drugs

Ipsen SA

11/02/2025 13:33

** Shares of hormonal disease-focused drug developer
Crinetics  CRNX.O  rise 1.6% to $37.1 in premarket after TD
Cowen starts coverage with a "buy" rating
    ** TD Cowen forecasts sales of $4 billion for co's
experimental lead drugs by 2035
    ** Brokerage says market potential of co's once-daily pill
paltusotine could be substantial, given similar drugs from
Novartis  NOVN.S  and Ipsen  IPN.PA  collectively brought in
$2.5 billion of sales in 2023
    ** Co is testing paltusotine to treat acromegaly, a
condition in which excess growth hormone is produced, as well as
carcinoid syndrome that causes symptoms from rare tumors
    ** CRNX is testing another drug, atumelnant, for a rare
genetic disorder called congenital adrenal hyperplasia (CAH) and
Cushing's syndrome, a hormonal disorder
    ** "The company's success partly relies on its ability to
obtain and maintain patent protection in the US and other
countries for its product candidates," brokerage says
    ** Stock rose 44% in 2024 

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))