Cytokinetics Inc Stock Price, News & Analysis

Cytokinetics announced a secondary analysis of the GALACTIC-HF trial, focusing on omecamtiv mecarbil's effects on heart failure patients with varying baseline ejection fractions. This data will be presented on May 17, 2021, at the ACC Annual Scientific Session. The company is preparing for regulatory discussions regarding omecamtiv mecarbil, following positive results from the Phase 3 trial. Cytokinetics is also progressing in other trials, including METEORIC-HF for omecamtiv mecarbil and REDWOOD-HCM for CK-274, a cardiac myosin inhibitor.

Cytokinetics, Incorporated (Nasdaq: CYTK) announced that CEO Robert I. Blum will present at the virtual H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021, and at the Barclays Global Healthcare Conference on March 11, 2021, at 9:45 AM ET. Interested parties can access the pre-recorded presentation and live webcast via Cytokinetics' website. The company focuses on developing muscle activators and inhibitors for diseases impairing muscle performance. Key products include omecamtiv mecarbil and CK-274, aimed at treating heart failure and hypertrophic cardiomyopathy, respectively.

Cytokinetics (Nasdaq: CYTK) announced the grant of stock options totaling 9,000 shares to new employee Wing Keung Chiu, effective February 26, 2021. This grant, approved by the Compensation and Talent Committee, is part of the company’s Amended and Restated 2004 Equity Incentive Plan. The options have an exercise price of $18.73, equivalent to the closing stock price on the grant date. Vested over four years, the options align with Nasdaq Listing Rule 5635(c)(4) as a material inducement for employment.

Cytokinetics (Nasdaq: CYTK) announced its participation in Rare Disease Day® on February 28, 2021, focusing on raising awareness for over 300 million individuals with rare diseases. The company aims to support these individuals, especially in the context of the COVID-19 pandemic. Cytokinetics is advancing CK-274, a cardiac myosin inhibitor for hypertrophic cardiomyopathy (HCM), currently in a Phase 2 trial, and preparing for a Phase 3 trial of reldesemtiv for ALS. Both drug candidates have received orphan drug designation from the FDA.

Cytokinetics (CYTK) reported Q4 2020 net losses of $43.9 million ($0.62/share) and an annual loss of $127.3 million ($1.97/share). Revenues increased to $6.7 million for Q4 and $55.8 million for 2020 due to a significant licensing deal. Cash reserves stand at $501 million, providing over two years of runway. The company plans to meet with the FDA in Q1 2021 to discuss GALACTIC-HF results, while REDWOOD-HCM enrollment is completed. 2021 guidance predicts revenues of $23 to $28 million with operating expenses between $195 and $205 million.

Cytokinetics announces the appointment of Muna Bhanji to its Board of Directors, enhancing its expertise in commercial development and market access. With over 30 years in the biopharmaceutical industry, Bhanji has held significant roles at Merck, including Senior VP, Global Market Access. Her experience is expected to guide Cytokinetics in ensuring access and affordability for its muscle-targeting therapies, particularly omecamtiv mecarbil, CK-274, and reldesemtiv. The company is progressing towards regulatory interactions following successful clinical trials.

Cytokinetics (Nasdaq: CYTK) will report its fourth quarter results on February 25, 2021, at 4:00 PM Eastern Time. A conference call will follow at 4:30 PM, where the management will discuss operational and financial outcomes, along with future outlook. Investors can access the call via webcast on the company’s website or by phone. Notably, Cytokinetics is advancing its cardiac muscle activator, omecamtiv mecarbil, after positive results from the GALACTIC-HF Phase 3 trial, and is also progressing clinical trials for other drug candidates.

Cytokinetics (Nasdaq: CYTK) announced the grant of stock options for 13,500 shares to new employee Cinzia Ellero as an employment incentive. The options have an exercise price of $19.67 per share, aligning with the stock's closing price on January 29, 2021. They will vest over four years, starting with one-quarter vesting on the one-year anniversary. The grant complies with Nasdaq Listing Rule 5635(c)(4). Cytokinetics focuses on developing muscle performance treatments and is preparing for regulatory steps concerning its cardiac muscle activator, omecamtiv mecarbil, following positive Phase 3 trial results.

Cytokinetics, Inc. (Nasdaq: CYTK) has received a $2.5 million milestone payment from Ji Xing Pharmaceuticals following the dosing of the first patient in Cohort 2 of the REDWOOD-HCM clinical trial for CK-274, a cardiac myosin inhibitor targeting hypertrophic cardiomyopathy (HCM). The trial aims to assess CK-274's safety, tolerability, and efficacy in reducing left ventricular outflow tract gradients. Interim analysis shows encouraging results from Cohort 1, with significant pressure gradient reductions and no serious adverse events reported.