Cytokinetics Inc Stock Price, News & Analysis

Cytokinetics reported a Q1 2021 net loss of $47.1 million ($0.66/share), up from a $39.4 million loss in Q1 2020. Revenue rose to $6.5 million, compared to $3.8 million last year, attributed to increased R&D from collaborations. Cash and investments totaled $460.2 million as of March 31, 2021. The company plans to submit a New Drug Application for omecamtiv mecarbil in the second half of 2021 following positive discussions with the FDA. Additionally, results from the REDWOOD-HCM study are anticipated mid-year as Cytokinetics expands its clinical development programs.

Cytokinetics (CYTK) has initiated patient enrollment in REDWOOD-HCM OLE, an open-label extension study aimed at evaluating the long-term safety and tolerability of CK-274 in patients with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). This follows the completion of the REDWOOD-HCM Phase 2 trial. The study's primary endpoint will focus on adverse events and left ventricular ejection fraction (<50%). CK-274, a next-in-class cardiac myosin inhibitor, aims to improve the quality of life for oHCM patients, an area with limited treatment options.

Cytokinetics, Incorporated (Nasdaq: CYTK) will hold its Annual Meeting of Stockholders on May 12, 2021, at 10:30 AM PT at its headquarters in South San Francisco. Stockholders of record as of March 22, 2021, can vote in person or via proxy. The meeting will feature a presentation from CEO Robert I. Blum on the company's performance. Due to COVID-19, health precautions including masks and temperature checks will be enforced. A live webcast will be available on the company's website, with an archived replay accessible until May 26, 2021.

Cytokinetics has commenced enrollment in Cohort 3 of its Phase 2 clinical trial, REDWOOD-HCM, evaluating CK-274 for hypertrophic cardiomyopathy (HCM) patients on disopyramide. This cohort aims to assess safety, tolerability, and pharmacokinetics of CK-274. Preliminary findings from earlier cohorts indicated significant reductions in left ventricular outflow tract gradients without major safety concerns. Results from Cohorts 1 and 2 are anticipated mid-2021. CK-274 has been developed to target hypercontractility in HCM, with no FDA-approved treatments currently available.

Cytokinetics granted stock options to purchase 69,800 shares to six new employees as an inducement for employment, effective April 30, 2021. The options have an exercise price of $25.44 per share, equal to the closing stock price on that date. Vesting occurs over four years, with the first quarter vesting after one year and the remainder monthly thereafter. This grant was sanctioned by the Compensation and Talent Committee and complies with Nasdaq rules. The company focuses on muscle-related drug development and prepares for regulatory action on its cardiac muscle activator, omecamtiv mecarbil.

Cytokinetics (Nasdaq: CYTK) will report its first quarter results on May 6, 2021, at 4:00 PM Eastern Time, followed by a conference call at 4:30 PM. This call will discuss operational and financial results and the company's future outlook. Investors can access the call via the company's website or by dialing designated numbers. An archived replay will be available until May 20, 2021. Cytokinetics specializes in muscle activators and inhibitors for treating diseases affecting muscle performance, with ongoing clinical trials for its drug candidates.

Cytokinetics (Nasdaq: CYTK) recently presented data on CK-274, its next-in-class cardiac myosin inhibitor, at the American Chemical Society Spring 2021 Virtual Meeting. The presentation highlighted CK-274's chemical structure, exposure-response relationship, and pharmacokinetics, particularly its projected human half-life of 2.8 days. Preclinical results indicated CK-274 effectively reduced cardiac contractility and demonstrated a favorable pharmacodynamic window. The ongoing REDWOOD-HCM Phase 2 trial is set to evaluate CK-274's efficacy and safety in patients with obstructive hypertrophic cardiomyopathy (HCM).

Cytokinetics announced that Robert I. Blum, President and CEO, will participate in a virtual fireside chat at the 20th Annual Needham Virtual Healthcare Conference on April 12, 2021, at 3:00 PM ET. Interested parties can access the live webcast on the Cytokinetics website, with a replay archived for 90 days post-event. Cytokinetics focuses on developing muscle activators and inhibitors for diseases affecting muscle performance, currently advancing candidates like omecamtiv mecarbil for heart failure and CK-274 for hypertrophic cardiomyopathy.

Cytokinetics, incorporated (Nasdaq: CYTK), will present data on CK-274, a cardiac myosin inhibitor aimed at treating hypertrophic cardiomyopathies (HCM), at the American Chemical Society Spring 2021 Virtual Meeting from April 5 to April 30, 2021. The presentation titled 'Discovery of CK-274' is scheduled for April 9, 2021, featuring Dr. Grace Chuang. The company is advancing several clinical trials, including the REDWOOD-HCM Phase 2 study for CK-274 and the METEORIC-HF Phase 3 study for omecamtiv mecarbil, after positive results from previous trials.