Crinetics Pharmaceuticals Inc at TD Cowen Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tyler Van Buren - TD Cowen - Analyst : But starting with [paltu or paltusotine], September 25, PDUFA date, probability of approval is incredibly high based upon the data. There's no reason it shouldn't get approved unless there's some unforeseen incident on the back end with respect to manufacturing or execution or something like that. But as you think about that launch, you've got the $2.5 billion SRL market, roughly half of that, a little bit less than half of that, I guess, is acromegaly as far as I recall, and expectations by some of your top holders are pretty conservative, so -- which isn't a bad thing, but how do you think about the early innings of this [paltu] launch and the opportunity and how you penetrate the market?

Question: Tyler Van Buren - TD Cowen - Analyst : Do you think the low-hanging fruit for this launch is the patients who are uncontrolled on SRLs who don't like being harpooned by the 18 gauge needle or have tolerability issues or is it naive patients or is it truly both and it's just going to be a mix? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 4:10PM, CRNX.OQ - Crinetics Pharmaceuticals Inc at TD Cowen Healthcare Conference

Question: Tyler Van Buren - TD Cowen - Analyst : Yeah. I mean, canvassing the existing centers that are prescribing SRLs and endocrinologists got to be -- I say this without ever having operated a company but relatively straightforward. And so I guess pulling these patients from the community who are off therapy, increasing diagnosis rates, how do you guys expect to do that?

Question: Tyler Van Buren - TD Cowen - Analyst : Okay, maybe we'll move to carcinoid syndrome for [paltu] as well. So the Phase 3 was recently initiated. Maybe you could talk about the potential timeline for data from this trial and what you hope to achieve to be successful with that trial.

Question: Tyler Van Buren - TD Cowen - Analyst : So, carcinoid syndrome is the other, I guess, half or maybe even a little bit more than half of the $2.5 billion SRL market. How do you think about that market opportunity in particular when it comes to the ability to expand the market with a therapy like paltusotine.

Question: Tyler Van Buren - TD Cowen - Analyst : Wonderful. Let's move to atumelnant. So, the A4 and 17-OHP data released earlier this year decreased a little bit from the initial release, which was incredibly high numbers or really steep [reductions], but still appear at least similar if not superior to (inaudible) on the whole. I guess given the much greater A4 reductions comparatively, is there reason to believe that A4 could be more relevant than 17-OHP or -- how do you put these results into context?

Question: Tyler Van Buren - TD Cowen - Analyst : Great, thanks for that. And with respect to the data, do patient compliance have an impact on it, and is that something that you look to control as you go into Phase 3?

Question: Tyler Van Buren - TD Cowen - Analyst : Okay, great. And the Phase 3 [SCH] trial is expected to start in the first half of this year. While you've not disclosed the trial design, will the primary endpoint be similar to (inaudible) in terms of reduction in glucocorticoids or steroids, and do you believe it's possible to stop steroid dosing altogether while maintaining the improvement in A4 and 17-OHP levels? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 4:10PM, CRNX.OQ - Crinetics Pharmaceuticals Inc at TD Cowen Healthcare Conference

Question: Tyler Van Buren - TD Cowen - Analyst : Okay, fair enough. You mentioned Cushing's unfortunately is a potential side effect of too much steroid use, but focusing on the actual indication of ACTH related Cushing's, what's -- maybe you could just review the data there in those five patients, the pathway forward and what you hope to see in Phase 3.

Question: Tyler Van Buren - TD Cowen - Analyst : What was Dr. Neiman using to try to get those patients to normal levels prior to obviously atumelnant?

Question: Tyler Van Buren - TD Cowen - Analyst : Got it. How big of a drug do you think atumelnant can be across both indications?

Question: Tyler Van Buren - TD Cowen - Analyst : All right, five minutes, four INDs from the pipeline entering the clinic this year. So, I guess we'll start with the NDCs, not ADCs, but NDCs, as you talked about in your opening remarks, entering the clinic, first of the four, I think targeting SST2 positive tumors and that's pretty straightforward mechanistically. Other solid tumors, the potential there is large as well. But I want to focus on the two things you talked about, which was biodistribution and the synthetic fermentation. Just can you elaborate on the biodistribution that you're seeing with these and then the manufacturing advantages and the ability to scale these?

Question: Tyler Van Buren - TD Cowen - Analyst : Great. Moving to PTH and TSH antagonist programs, speaking with some of your investors, they love these programs. They think they could be multi-billion dollar potential programs entering the clinic this year, hopefully soon. Can you just talk about how quickly you think you could get early kind of proof of mechanism data from these programs?

Question: Tyler Van Buren - TD Cowen - Analyst : Okay. We're up on time here, but GLP-1, GIP candidate nomination later this year, can you say anything about what we should expect to learn or differentiation, or are you going to make us wait?

Question: Tyler Van Buren - TD Cowen - Analyst : Great. So, Scott, to close out, what do you believe is the most underappreciated aspect of the Crinetics story by investors right now?

Question: Tyler Van Buren - TD Cowen - Analyst : I love that answer. I was not anticipating it.