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Is Crinetics Pharmaceuticals Stock a Buy?

The FDA just handed this clinical-stage biotech its golden ticket -- but at a 4.3billionvaluation,themarketsalreadypricinginafairamountofcommercialsuccess.CrineticsPharmaceuticals(CRNX27.924.3 billion valuation, the market's already pricing in a fair amount of commercial success.Crinetics Pharmaceuticals (CRNX 27.92%) faces the ultimate biotech paradox: Its newly approved drug Palsonify could either justify the stock's 4.3 billion valuation or expose it as dangerously overpriced. The U.S. Food and Drug Administration (FDA) approval on Sept. 25 transforms this clinical-stage company into a commercial powerhouse wit ...