Cytokinetics Announces Closing of Public Offering of Common Stock and Full Exercise of the Underwriters’ Option to Purchase Additional Shares for Gross Proceeds of $805 Million

Cytokinetics (Nasdaq: CYTK) closed an underwritten public offering on May 8, 2026, selling 11,338,028 common shares (including full exercise of a 1,478,873-share option) at $71.00 per share for gross proceeds of approximately $805 million.

Rhea-AI Summary

Cytokinetics (Nasdaq: CYTK) closed an underwritten public offering on May 8, 2026, selling 11,338,028 common shares (including full exercise of a 1,478,873-share option) at $71.00 per share for gross proceeds of approximately $805 million.

All shares were sold by Cytokinetics; gross proceeds are before underwriting discounts, commissions and offering expenses.

Positive

• Gross proceeds of approximately $805 million
• Full exercise of underwriters’ option for 1,478,873 additional shares
• Sale of 11,338,028 common shares completed

Negative

• Proceeds reported are before underwriting discounts, commissions and offering expenses
• Issuance of 11,338,028 shares increases outstanding share count and shareholder dilution

Argus May 8 session

+3.53% close to close Open Argus

Details

News Market Reaction – CYTK

On May 8, the day this news came out, CYTK closed 3.53% above the previous close.

Data tracked by StockTitan Argus for the May 8 session.

Market Context

This announcement confirms the closing of Cytokinetics’ latest equity financing, with 11,338,028 sha...

Analysis

This announcement confirms the closing of Cytokinetics’ latest equity financing, with 11,338,028 shares sold at $71.00 for gross proceeds of $805 million. The deal follows earlier May 2026 offering steps and continues a multi-year pattern of capital raises averaging a -5.22% one-day move. Investors may track how this expanded capital base supports MYQORZO’s launch, late-stage trials, and overall strategy, while also noting recent high trading volume versus the 20-day average.

Key Figures

Shares offered: 11,338,028 shares Underwriters’ option: 1,478,873 shares Offering price: $71.00 per share +1 more

Shares offered

11,338,028 shares

Common stock in underwritten public offering

Underwriters’ option

1,478,873 shares

Additional shares under 30-day option fully exercised

Offering price

$71.00 per share

Public offering price before underwriting discounts

Gross proceeds

$805 million

Gross proceeds before underwriting discounts and expenses

Previous Offering Reports

5 past events · Latest: May 06

Same Type 5 events

1. May 06

   Equity offering pricing

   24h Move

   -0.7%

   Priced upsized common stock offering at $71 with ~$700M gross proceeds.

2. May 05

   Equity offering proposal

   24h Move

   -2.9%

   Proposed ~$650M common stock offering with 30-day underwriter option.

3. Sep 16

   Convertible notes offering

   24h Move

   -4.4%

   Priced $650M 1.75% convertible notes due 2031 and refinancing 2027 notes.

4. May 28

   Equity offering closing

   24h Move

   -0.7%

   Closed $500M common stock offering at $51 per share under shelf.

5. May 22

   Equity offering pricing

   24h Move

   -17.3%

   Priced 9.8M-share offering at $51 per share with 30-day option.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, prospectus supplement, prospectus

3 terms

underwritten public offering financial

"announced the closing of an underwritten public offering of 11,338,028 shares"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

prospectus supplement regulatory

"A final prospectus supplement and accompanying prospectus relating to the offering have been filed"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

prospectus regulatory

"Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SOUTH SAN FRANCISCO, Calif., May 08, 2026 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced the closing of an underwritten public offering of 11,338,028 shares of its common stock, including the full exercise of the underwriters’ option to purchase up to 1,478,873 additional shares, at a price to the public of $71.00 per share, before underwriting discounts and commissions. The gross proceeds to Cytokinetics from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Cytokinetics, were approximately $805 million. All of the shares of common stock in the offering were sold by Cytokinetics.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies acted as joint book-running managers for the offering. Mizuho acted as lead co-manager for the offering and Citizens Capital Markets, Needham & Company, B. Riley Securities and H.C. Wainwright & Co. acted as co-managers for the offering.

The securities described above were offered by Cytokinetics pursuant to a shelf registration statement (including a base prospectus) filed on February 27, 2025 with the Securities and Exchange Commission (SEC), which has become automatically effective. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and can be accessed for free on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014, by telephone at 866-718-1649 or by email at prospectus@morganstanley.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at Prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Cytokinetics

Cytokinetics is a specialty cardiovascular biopharmaceutical company, building on its over 25 years of pioneering scientific innovations in muscle biology, and advancing a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction. Cytokinetics’ MYQORZO^® (aficamten) is a cardiac myosin inhibitor approved in the U.S., Europe and China for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Cytokinetics is also developing omecamtiv mecarbil, an investigational cardiac myosin activator for the potential treatment of patients with heart failure with severely reduced ejection fraction and ulacamten, an investigational cardiac myosin inhibitor for the potential treatment of heart failure with preserved ejection fraction, while continuing pre-clinical research and development in muscle biology.

Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Cytokinetics (CYTK) sell in the May 8, 2026 offering?

Cytokinetics sold 11,338,028 common shares, including the underwriters’ additional option shares. According to Cytokinetics, this total includes the full exercise of a 1,478,873-share option at $71.00 per share.

What were the gross proceeds from Cytokinetics (CYTK) public offering on May 8, 2026?

The offering generated approximately $805 million in gross proceeds. According to Cytokinetics, that figure is before underwriting discounts, commissions and other offering expenses payable by the company.

At what price per share did Cytokinetics (CYTK) sell stock in the offering?

Shares were sold at a public offering price of $71.00 per share. According to Cytokinetics, that price is before underwriting discounts and commissions applied to the offering.

Who managed the Cytokinetics (CYTK) May 8, 2026 public offering?

Morgan Stanley, Goldman Sachs, J.P. Morgan and Jefferies acted as joint book‑running managers. According to Cytokinetics, Mizuho was lead co‑manager with several firms as co‑managers.

Will the $805 million reported by Cytokinetics (CYTK) be the net cash received?

No, the $805 million is gross proceeds before deductions. According to Cytokinetics, underwriting discounts, commissions and offering expenses will reduce the net cash received by the company.