
Why Crinetics Pharmaceuticals (CRNX) Is Up 6.8% After FDA Approval of First Oral Acromegaly Therapy

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Crinetics Pharmaceuticals' shares rose 6.8% following the FDA's approval of PALSONIFY, the first oral treatment for acromegaly. This approval, based on positive Phase 3 trial results, introduces a new standard in acromegaly care. While the approval is a significant milestone, investors are cautious about the company's ability to achieve profitability and market traction for PALSONIFY. Fair value estimates for CRNX shares vary widely, reflecting differing opinions on the stock's potential returns. The company faces challenges in scaling sales despite recent regulatory successes.
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