UPDATE: Crinetics Pharmaceuticals (CRNX) — The EC Catalyst Hits

The named 1H 2026 catalyst lands on schedule. Now the question pivots from regulatory to commercial.

The European Commission just approved PALSONIFY (paltusotine) for adult acromegaly across all 27 EU member states and 3 EEA countries. This was the named catalyst I flagged in the original deep dive — “1H 2026: Anticipated European Commission approval following the positive CHMP opinion in February 2026.” It hit. The stock is up +5.6% since April 1 ($36.57 → $38.62), which feels muted for what is functionally the second pillar of the global PALSONIFY franchise getting locked in. The market is treating CHMP-to-EC as a formality. Fair — but the operational reality (Germany and Austria launches, Japan NDA filed by SKK, Brazil MAA submitted) is compounding, not decaying.