12 Biotech Stocks with the Biggest Upside Potential

6. Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Analyst Upside: 100.30%

Number of Hedge Fund Holders: 37

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is a clinical-stage pharmaceutical company that develops and commercializes novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company’s product candidate, CRN00808, is an oral treatment for acromegaly. It is also developing other oral treatments for neuroendocrine tumors, hyperinsulinism, and Cushing’s disease.

On December 9, the company announced that the FDA accepted its New Drug Application (NDA) for investigational candidate paltusotine for the treatment and long-term maintenance therapy of acromegaly in adults. If approved, paltusotine would become the first and only once-daily oral treatment available for acromegaly in adults. Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is thus preparing for the potential US launch of paltusotine. In addition, it is also building capabilities to commercialize paltusotine and support global clinical development of its other potential future drugs in the pipeline. The company plans to eventually bring paltusotine and its future drugs to European patients and expand its scope to the rest of the world. These expansion programs position the company for long-term success and profitability.

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is also introducing a new technology, non-peptide drug conjugates (NDCs), developed in-house through its drug discovery capabilities in G protein-coupled receptors (GPCRs). This novel platform selectively targets anti-tumor agents by leveraging endocrine receptors to treat the underlying tumors. If successful, the company’s NDC platform might be applicable to a range of different cancers, which reflects its long-term potential.