Vertex to acquire Crinetics Pharmaceuticals

7 July 2026

US drug developer Crinetics Pharmaceuticals (Nasdaq: CRNX) saw its shares rocket 99% to $83.64 in pre-market activity today, following the news of a takeover bid from Vertex Pharmaceuticals (Nasdaq: VRTX).

Vertex will acquire Crinetics for $85.00 per share in cash, for a total equity value of approximately $10.0 billion, or around $8.8 billion net of estimated cash acquired.

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