UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 21, 2022, Ajay Madan, Ph.D., provided notice to the Chief Executive Officer of Crinetics Pharmaceuticals, Inc. (the “Company”) of his resignation as Chief Development Officer of the Company, to be effective April 1, 2022. In connection with Dr. Madan’s resignation, it is expected that the Company will enter into a consulting agreement for a period of six months with Dr. Madan pursuant to which he will assist with the transition of his duties to others within the Company and to ensure the continuity of its programs while it searches for his replacement. Pursuant to such consulting agreement, it is expected that Dr. Madan will receive a monthly retainer of approximately $37,346.
The foregoing description of the consulting agreement is not complete and is qualified in its entirety by reference to the full text of the consulting agreement, a copy of which is expected to be filed with the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2022, and which is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Crinetics Pharmaceuticals, Inc. |
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Date: |
March 25, 2022 |
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/s/ R. Scott Struthers, Ph.D. |
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R. Scott Struthers, Ph.D. |