Nasdaq Files to Delist Crinetics Pharmaceuticals Common Stock

What happened

On September 1, 2026, Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission (SEC) to remove Crinetics Pharmaceuticals, Inc.'s common stock from listing and registration. The filing was made under Section 12(b) of the Securities Exchange Act of 1934.

The Form 25 indicates that the exchange relied on rule 17 CFR 240.12d2-2(b), meaning Nasdaq states it has complied with its rules to strike the class of securities. The filing does not specify the exact reason for the delisting, such as a merger, bankruptcy, or voluntary withdrawal by the company.

Crinetics Pharmaceuticals is a San Diego-based pharmaceutical company focused on developing treatments for endocrine diseases. Its stock closed at $84.95 on the event date, nearly unchanged from the prior close of $84.84.

What this means

A Form 25 is the notification a stock exchange files with the SEC when a security is removed from listing. The form is required under SEC rules to formally end the security's registration under Section 12(b).

In this case, Nasdaq filed the Form 25, meaning the exchange initiated the delisting process rather than the company voluntarily withdrawing its shares. The filing cites rule 12d2-2(b), which allows an exchange to delist a security if it has followed its own listing standards.

The filing does not explain why the delisting is happening. Common reasons for an exchange-initiated delisting include failure to meet minimum price or market capitalization requirements, but the sources provided do not indicate a cause.

Typically, after a Form 25 is filed, the security's listing is officially terminated, and trading moves to over-the-counter markets if the company still has shareholders. However, the Form 25 alone does not reveal what comes next for Crinetics' shares.