Why This Pharmaceutical Stock Jumped Close to 100% This Week
It is getting acquired by a larger firm in the sector.
Overview
Shares of Crinetics Pharmaceuticals (NASDAQ: CRNX) jumped 98% this week, according to data from S&P Global Market Intelligence. The upstart drugmaker is being acquired by Vertex Pharmaceuticals for $10 billion in cash, less than a year after its first drug was approved by the Food and Drug Administration (FDA).
The stock is now trading just below its acquisition price of $85, and has officially delivered 300% returns for investors over the past five years. Here's why Crinetics stock was soaring this week, and what investors should do now.
Details
Vertex Pharmaceuticals is a large-cap drugmaker paying $10 billion to acquire Crinetics and its portfolio of drugs, or $8.8 billion net of cash on the Crinetics balance sheet. Crinetics has a drug called Palsonify, approved by the FDA in September of 2025 and recently approved in the European Union, that is an oral treatment for a condition called Acromegaly. It also has a pipeline of other drugs in clinical trials.
Source
Originally published at www.fool.com.