Crinetics Pharmaceuticals (CRNX) shares were down more than 12% Friday after the company reported positive topline results from a phase 2 trial of investigational compound atumelnant for treating classic congenital adrenal yyperplasia, or CAH, and adrenocorticotropic hormone, or ACTH-dependent Cushing's syndrome.

The study, which included 28 patients across three dose groups, showed significant and statistically meaningful reductions in key biomarkers, with a mean reduction of up to 80% in androstenedione, the pharmaceutical company said, adding that atumelnant was generally well-tolerated, with no severe treatment-related adverse events or discontinuations.

The trial demonstrated improvements in CAH symptoms, including testosterone normalization in most female participants, a consistent decrease in total adrenal volume, and the resolution of androgen-mediated polycythemia in the majority of affected participants, the company said.

Price: 42.64, Change: -5.87, Percent Change: -12.09