Crinetics Pharmaceuticals Inc. has reported its financial results for the first quarter ended March 31, 2025. The company recorded revenues of $0.4 million, a decrease from $0.6 million in the same period of 2024. The revenues were primarily attributed to the paltusotine licensing agreement with Sanwa Kagaku Kenkyusho Co., Ltd. The net loss for the quarter was $96.8 million, compared to a net loss of $66.9 million during the same period in 2024. Research and development expenses increased significantly to $76.2 million, up from $53.3 million in the previous year. This increase was mainly due to higher personnel costs, increased manufacturing activities, and elevated costs for outside services, all driven by the advancement of clinical programs and the expansion of the preclinical portfolio. Crinetics reported that its cash, cash equivalents, and investments totaled $1.3 billion as of March 31, 2025, down from $1.4 billion at the end of 2024. The company expects this financial reserve to support its operating plans into 2029. For 2025, Crinetics anticipates that cash used in operations will range between $340 million and $380 million. In terms of business updates, Crinetics is preparing for a pivotal moment with the FDA review of their New Drug Application for paltusotine, with a PDUFA date set for September 25, 2025. Additionally, the company is set to initiate the CALM-CAH Phase 3 study of Atumelnant for the treatment of adults with congenital adrenal hyperplasia. Crinetics plans to host an R&D Day on June 26 to discuss its early-stage pipeline strategy and data.