Crinetics Pharmaceuticals shares rise 1.36% premarket after receiving FDA Orphan Drug Designation for atumelnant.

Crinetics Pharmaceuticals, Inc. rose 1.36% in premarket trading, driven by the FDA granting Orphan Drug Designation for atumelnant, a novel, once-daily oral adrenocorticotropic hormone (ACTH) receptor antagonist candidate for the proposed treatment of classic congenital adrenal hyperplasia (CAH). The designation underscores the significant unmet need faced by people living with CAH and highlights the innovative mechanism of action of atumelnant.