MoFo Represents Crinetics in Upsized Public Offering of Common Stock

Morrison Foerster represented Crinetics Pharmaceuticals (Nasdaq: CRNX), a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for endocrine diseases and endocrine-related tumors, in its public offering of 10,000,000 shares of its common stock at a price to the public of $50.00 per share. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $500.0 million. In addition, Crinetics has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. Leerink Partners, Morgan Stanley, Piper Sandler and Cantor acted as joint bookrunning managers for the offering. LifeSci Capital, Baird, H.C. Wainwright & Co. and Citizens JMP acted as lead managers for the offering. Jones acted as co-manager for the offering.

The transaction team was led by San Diego Corporate partner Jim Krenn and Washington, D.C. Public Company Advisory & Governance and Capital Markets of counsel Emily Beers. The core deal team also included New York Corporate associates Tyler Miller and Hannah Yang. 

Read more from Crinetics’ press release.