$CRNX

Crinetics Pharmaceuticals (CRNX) said its proposed merger with Vertex Pharmaceuticals (VRTX) has progressed after Hart-Scott-Rodino waiting periods expired and antitrust approvals were received in Austria, Germany, and Australia. The deal would make Crinetics a wholly owned Vertex subsidiary, pending other conditions and CRNX shareholder approval on Aug. 28, 2026. Shares trade near $84.44.

Crinetics Pharmaceuticals (CRNX) said the waiting period under the US HSR Act for its merger with Vertex Pharmaceuticals (VRTX) expired Aug 12, 2026. Antitrust approvals in Austria, Germany and Australia were received as of Aug 13, with an Australia waiting period scheduled to end Aug 27. Shareholder adoption is expected Aug 28, with closing in early September 2026.

Crinetics Pharmaceuticals, Inc. (CRNX) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 crnxq226earningspr.htm EX-99.1 Document Exhibit 99.1 Crinetics Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update Announced Vertex Agreement to Acquire Crinetics for Total Equity Value of Approximately $10.0 Billion, or Approximat

Crinetics Pharmaceuticals (CRNX) asked shareholders to approve its merger with Vertex Pharmaceuticals. According to the proxy, Clark Merger Sub will merge into Crinetics, with CRNX shares converted to $85.00 cash per share at closing. The special meeting is Aug. 28, 2026, and approval needs a majority of 106,095,205 shares. CRNX would delist and stop SEC filings.

Jeff Leerink Partners says biotech M&A has accelerated in early 2026, citing at least $85 billion in global deals with upfront values of $1 billion or more in the first half. It cites its work on Crinetics’ sale to Vertex and GSK’s purchase of Nuvalent. The article links activity to patent expiries and Big Pharma spending, and notes the Nasdaq biotech index up nearly 45% in a year.

The Russell 2000 stayed near 3,000 with little movement, while seven small-cap stocks gained at least 28% in four sessions. The article cites July surges for Orthofix (OFIX) on CMS reimbursement reversal, REGENXBIO (RGNX) on FDA resubmission alignment and AbbVie milestone, Verastem (VSTM) on short-squeeze setup, ADC Therapeutics (ADCT) rebound, Sable Offshore (SOC) refinancing, Rapid7 (RPD) takeover speculation, and Crinetics (CRNX) surge toward an offer price.

BioPharma Dive roundup covers AstraZeneca’s eplontersen failure in a major heart disease study, boosting expectations for rival TTR amyloidosis drugs from Alnylam and BridgeBio. Other items include ARPA-H funding, GSK ending a neuroscience alliance with Alector, Vera Therapeutics’ FDA nod for IgA nephropathy, and Vertex’s $10B plan to buy Crinetics.

Vertex Pharmaceuticals will acquire Crinetics Pharmaceuticals in a cash deal at $85 per share, valuing it at about $10 billion, or $8.8 billion net of cash, according to the companies. Boards approved unanimously, with closing expected in Q3. Vertex plans to fund with cash on hand plus $4.5 billion bridge financing from Bank of America and Morgan Stanley. Analysts revised targets and ratings for CRNX.

Vertex Pharmaceuticals (VRTX) agreed to buy Crinetics Pharmaceuticals (CRNX) for $10 billion, paying a 102% premium. Vertex expects the acquired assets to add up to $5 billion in revenue and highlighted atumelnant in clinical trials for congenital adrenal hyperplasia. VRTX shares fell after the deal announcement on July 6.

Vertex Pharmaceuticals (VRTX) said it plans to acquire Crinetics Pharmaceuticals (CRNX) in a deal valued at about $10 billion, expected to close in Q3 2026. Crinetics reported under $8 million revenue last year and a net loss above $465 million. Vertex’s revenue was about $12 billion in 2025, up about 9%.