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United States securities and exchange commission logo
February 14, 2023
Marc J.S. Wilson
Chief Financial Officer
Crinetics Pharmaceuticals, Inc.
10222 Barnes Canyon Road
Bldg. #2
San Diego, California 92121
Re: Crinetics
Pharmaceuticals, Inc.
Form 10-K for
Fiscal Year Ended December 31, 2021
Filed March 30,
2022
File No. 001-38583
Dear Marc J.S. Wilson:
We have reviewed your January 19, 2023 response to our comment
letter and have the
following comment. In our comment, we may ask you to provide us with
information so we may
better understand your disclosure.
Please respond to the comment within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe our
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your response to the comment, we may have
additional
comments. Unless we note otherwise, our references to prior comments are
to comments in our
December 20, 2022 letter.
Form 10-K for the Fiscal Year Ended December 31, 2021
Notes to Consolidated Financial Statements
8. Radionetics Oncology, Inc., page F-16
1. We note your response
to prior comment two. Please address the following as it relates to
your determination that
you do not have the power to direct the activities that most impact
Radionetics' economic
performance:
You disclose that
no party has power over Radionetics' key activities - including
research and
development (R&D), financing decisions and determining strategic
direction. Explain
whether there is a contractual mechanism in place to resolve
disputes in the
event that a majority decision cannot be reached with respect to one of
Marc J.S. Wilson
Crinetics Pharmaceuticals, Inc.
February 14, 2023
Page 2
Radionetic's key activities.
Address the following with respect to power over R&D
activities:
o Describe to us the composition of Radionetics' R&D
committee.
o Tell us whether any of Radionetics' R&D activities are
performed by Crinetics
employees.
o Describe to us any related party or agent relationships
among Crinetics, 5AM
Ventures, Frazier Healthcare Partners and/or the independent
board member.
o Tell us whether others apart from Crinetics are capable of
performing the R&D
activities, and explain to us whether reliance on Crinetics
provides a substantial
barrier to other board members exercising their rights.
Provide us with a copy of the Collaboration and License
Agreement and any other
relevant Radionetics' agreements in order to assist us with our
analysis.
You may contact Ibolya Ignat at 202-551-3636 or Angela Connell at
202-551-3426 with
any questions.
FirstName LastNameMarc J.S. Wilson Sincerely,
Comapany NameCrinetics Pharmaceuticals, Inc.
Division of
Corporation Finance
February 14, 2023 Page 2 Office of Life
Sciences
FirstName LastName