On April 17, 2020, Crinetics Pharmaceuticals, a clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors, announced that it has closed its previously announced underwritten public offering of 8,222,500 shares of its common stock, including 1,072,500 shares sold pursuant to the underwriters' full exercise of their option to purchase additional shares, at a price to the public of $14 per share. The gross proceeds to Crinetics from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $115.1 million. Wilson Sonsini Goodrich & Rosati represented Crinetics Pharmaceuticals in patent matters related to the transaction. 

In the announcement, Crinetics said it intends to use the net proceeds from the offering to fund the development of paltusotine and its other research and development programs, and for working capital and general corporate purposes. SVB Leerink, Piper Sandler, and Cantor acted as joint bookrunning managers for the offering. H.C. Wainwright & Co. and Roth Capital Partners acted as co-managers for the offering.

The Wilson Sonsini team advising Crinetics Therapeutics in patent matters and patent matters related to the transaction includes Michael Hostetler, Uale Taotafa, and Val Zunic.

For more information, please see Crinetics Therapeutics' press release.