Isabel Kalofonos
About Isabel Kalofonos
Isabel Kalofonos is Chief Commercial Officer at Crinetics Pharmaceuticals, appointed effective December 16, 2024; she is 54 years old . She holds an MBA in entrepreneurship and marketing from Babson College and an undergraduate degree in industrial engineering from Pontificia Universidad Javeriana . She is a seasoned commercial leader with 20+ years of global experience across oncology, immunology, rare diseases and dermatology, including leading the successful launches of ELAHERE (ImmunoGen), TAKHZYRO (Shire/Takeda), and launch preparation for NEMLUVIO (Galderma) . At Crinetics, she is leading commercial strategy and preparations for paltusotine ahead of the September 25, 2025 PDUFA date; management disclosed commercial preparations are on-track under her leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Fulcrum Therapeutics | Chief Commercial Officer | Aug 19, 2024 – Sep 30, 2024 | Led commercial organization briefly; role prior to joining Crinetics . |
| ImmunoGen (acquired by AbbVie) | SVP & Chief Commercial Officer | Apr 2023 – Aug 2024 | Led successful U.S. launch of ELAHERE; built sales, marketing, market access, commercial ops; prepared international launch . |
| Galderma | SVP & Global Head, Prescription Business Unit | Mar 2020 – Mar 2023 | Led launch preparation for NEMLUVIO; oversaw global market access, RWE, pricing, HEOR . |
| Shire/Takeda | VP & Head, Hereditary Angioedema (HAE) Franchise | Jan 2012 – Feb 2020 | Oversaw global blockbuster launch of TAKHZYRO; led strategy across multiple therapeutic areas . |
External Roles
No public company board roles or external directorships disclosed in company filings for Ms. Kalofonos .
Fixed Compensation
| Component | 2024/2025 Terms | Notes |
|---|---|---|
| Base Salary | $500,000 | As per Employment Agreement effective Dec 16, 2024 . |
| Target Annual Bonus % | 40% of base salary | As per Employment Agreement . |
| Annual Incentive Plan Cap | Company amended program to cap payouts at 150% of target (Feb 2025) | Applies company-wide; individual weighting not disclosed for Ms. Kalofonos . |
Performance Compensation
| Incentive Type | Grant Details | Vesting | Strike/Exercise | Term | Notes |
|---|---|---|---|---|---|
| Stock Option (Inducement) | 100,000 options under 2021 Inducement Plan; expected grant Jan 10, 2025 | 25% vests on Dec 16, 2025; remainder in 36 equal monthly installments thereafter | Exercise price = closing price on Jan 10, 2025 | 10 years | Granted as material inducement per Nasdaq Rule 5635(c)(4) . |
Company long-term incentive design: executives receive stock options and RSUs that vest over multi-year periods; options align compensation value with stock price performance; RSUs support retention and lower dilution. Annual executive awards typically mix ~70% options and ~30% RSUs; vesting schedules are four-year standard, though Ms. Kalofonos’s disclosed award is an inducement option .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial Ownership (Form 3/4) | Initial Form 3 was filed late on Dec 16, 2024 due to obtaining EDGAR codes; no share counts disclosed in proxy for Ms. Kalofonos . |
| Current Equity Awards | Inducement option for 100,000 shares; vesting per schedule above . |
| Ownership Guidelines | Designated executive officers must hold 1x annual base salary; 5 years to comply; must retain 50% of net shares from equity awards until requirements are met . |
| Pledging/Hedging | Prohibited for officers/directors/employees (no margin, short sales, puts/calls, collars) . |
| Clawback | Company maintains SEC/Nasdaq-compliant clawback policy for erroneously awarded incentive comp . |
| 10b5‑1 Plan | Not disclosed in filings for Ms. Kalofonos; insider trading policy allows pre-approved 10b5-1 plans . |
Reference context: Crinetics had 93,629,118 common shares outstanding as of April 14, 2025 . The disclosed 100,000-option grant represents ~0.11% of shares on a fully exercised basis, illustrating modest dilution potential relative to outstanding shares .
Employment Terms
| Provision | Base (No CIC) | Change-in-Control (Double-Trigger within 12 months) | Death/Disability |
|---|---|---|---|
| Cash Severance (Base Salary) | 9 months (lump sum 60 days post-termination) | 12 months (lump sum 60 days post-termination) | N/A |
| Bonus | Pro rata portion of then-current target bonus | Full then-current target bonus (lump sum 60 days post-termination) | Target annual bonus (paid per plan timing) |
| Health (COBRA) | Up to 9 months | Up to 12 months | N/A |
| Equity | Standard vesting continues (no acceleration disclosed) | Full vesting of all unvested options and equity awards not conditioned on performance; performance-conditioned awards remain outstanding per award terms | N/A |
| Other | Release requirement and restrictive covenants apply; clawback policy incorporated | Same | Same |
| Causes/Good Reason | If terminated for cause or resigns without good reason: only accrued salary/PTO and any amounts due under plans | N/A | N/A |
| Agreement Effective Date | Dec 16, 2024 | N/A | N/A |
| Notes/Citation |
Performance & Track Record
- Built and led commercial organizations across biopharma; executed the U.S. launch of ELAHERE at ImmunoGen and global launch of TAKHZYRO at Shire/Takeda; led global launch preparation for NEMLUVIO at Galderma .
- At Crinetics, responsible for commercial strategy and preparations for paltusotine; management highlighted commercial preparations on-track ahead of the Sep 25, 2025 PDUFA date .
Compensation Structure Analysis
- Pay-for-performance design: significant “at-risk” mix via options/RSUs and annual incentives; company amended annual incentive plan cap to 150% of target in 2025, limiting outsized payouts and enhancing discipline .
- Governance features supportive of alignment: stock ownership guidelines, clawback, and prohibition on pledging/hedging reduce misalignment and selling pressure risk .
- No tax gross-ups and limited perquisites; executives participate in broad-based benefits similar to other employees .
Risk Indicators & Red Flags
- Section 16 compliance: one late Form 3 filing for Ms. Kalofonos due to EDGAR code timing (filed Dec 16, 2024) .
- Related party transactions/family relationships: none reported for Ms. Kalofonos .
- Hedging/pledging: explicitly prohibited, reducing potential misalignment and collateral-driven selling risk .
- Clawback: policy in place per SEC/Nasdaq; mitigates incentive misstatement risk .
- Say-on-pay: 97.3% approval in 2024 indicates broad shareholder support for executive compensation framework .
Investment Implications
- Alignment: Inducement options tie value realization to stock performance; ownership guidelines and hedging/pledging prohibitions strengthen alignment and reduce forced selling risk .
- Retention risk: Severance terms are moderate (0.75x base non-CIC; 1.0x base CIC + target bonus) with double-trigger acceleration—balanced retention incentives while preserving strategic flexibility in M&A scenarios .
- Trading signals: Watch for Form 4 filings confirming the Jan 10, 2025 inducement grant and any future RSU awards; option vesting begins after Dec 16, 2025, suggesting minimal near-term selling pressure from new grants . Commercial execution milestones and the Sep 25, 2025 PDUFA date for paltusotine are key catalysts under her remit .