JP Morgan surveyed 24 US endocrinologists to learn their views on the clinical profiles of approved and emerging therapies for Congenital Adrenal Hyperplasia (CAH).

CAH is a group of inherited disorders affecting the adrenal glands, causing them to produce too little cortisol and/or aldosterone and potentially too much androgen. 

In a survey shared on Wednesday, JP Morgan analyst Jessica Fye wrote that around 90% of physicians were at least somewhat familiar with Crinetics Pharmaceuticals Inc CRNX atumelnant’s Phase 2 open-label data, of which ~63% were very familiar and had a favorable impression of the efficacy results thus far.

Also Read: Crinetics Pharmaceuticals Analyst Sees Around 70% Upside For Stock, Cites More Investor Interest In Endocrinology

In January, Crinetics Pharmaceuticals released topline results from an open-label, Phase 2 congenital adrenal hyperplasia (CAH) study of investigational atumelnant.

For all doses, treatment with atumelnant resulted in a rapid, substantial and sustained statistically significant reduction in A4 levels, the key biomarker for disease control.

Rapid, substantial and sustained statistically significant reductions in 17-OHP, a confirmatory secondary biomarker of disease control, were achieved across doses. Treatment with atumelnant also had a significant impact on CAH signs and symptoms.

JP Morgan remains optimistic about atumelnant’s effectiveness based on open-label Phase 2 results. However, they will monitor safety closely after one patient showed elevated liver enzymes, though it's unclear if the drug caused them.

Crinetics Pharmaceuticals is approaching its first commercial launch of paltusotine for acromegaly. With enough cash to operate through 2029 and a growing pipeline, JP Morgan says the company stands out as a strong player in endocrine drug discovery and development, backed by an efficient R&D team.

The analyst maintains the Outperform rating, lowering the price target from $57 to $53.

Analyst Fye writes, “While we acknowledge the market is now treating atumelnant (CAH, Cushing's) as a higher-risk asset which could leave the stock more range bound in the near term, we also expect a string of potentially de-risking readouts from the next wave of pipeline assets beyond paltusotine and atumelnant looking out to 2026+.”

Price Action: CRNX stock is down 4.36% at $33.54 at the last check Wednesday.

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