(24/7 MARKET NEWS) – Crinetics Pharmaceuticals, Inc. (CRNX:NASDAQ) announced, yesterday, that paltusotine, an oral, once-daily investigational compound, achieved positive results by meeting the primary endpoint and all secondary endpoints of the Phase 3 PATHFNDR-1 study (NCT04837040), which was a randomized, double-blind, placebo-controlled 36-week treatment period followed by an optional open-label extension study evaluating paltusotine in participants with acromegaly switching from standard-of-care injected depot somatostatin analogs.
The study met statistical significance (p<0.0001) on the primary endpoint, based on the proportion of participants taking paltusotine (83%) who maintained an insulin-like growth factor 1 (IGF-1) level ≤ 1.0 times the upper limit of normal (xULN) compared to those taking placebo (4%). All secondary endpoints also met statistical significance:
The Company’s management team will host a conference call this morning at 8:00 a.m. EDT.
Crinetics Pharmaceuticals is trading at $21.48, up $5.51 (+34.50%), on 155.14K premarket shares traded.
Its 52-week range is $15.23 to $24.58. It’s blowing through its resistance points.
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