Cytokinetics Inc Stock Price, News & Analysis

Cytokinetics, Incorporated (Nasdaq: CYTK) is set to report its second quarter results on August 6, 2020, at 4:00 PM ET. Following the release, a conference call with senior management will take place at 4:30 PM ET to discuss financial outcomes and future outlook. Investors can access the live audio via Cytokinetics’ website or by phone. An archived replay of the call will be available until August 20, 2020. The company focuses on developing muscle activators and inhibitors for treating diseases affecting muscle performance, collaborating with Amgen and Astellas on various clinical programs.

Cytokinetics (Nasdaq: CYTK) has successfully closed its public offering of 8,385,417 shares at $24.00 per share, raising approximately $201.3 million in gross proceeds. The offering included the full exercise of underwriters' options for an additional 1,093,750 shares. The transaction was managed by Goldman Sachs, Piper Sandler, and Cantor Fitzgerald, among others, under a shelf registration statement filed with the SEC. Cytokinetics specializes in developing muscle activators and inhibitors to treat diseases affecting muscle performance.

Cytokinetics (Nasdaq: CYTK) announced a public offering of 7,291,667 shares at $24.00 each, with expected gross proceeds of approximately $175 million. The offering is set to close on July 21, 2020, pending customary conditions. Additionally, underwriters have a 30-day option to purchase 1,093,750 more shares. The securities are offered under a shelf registration statement filed with the SEC. Goldman Sachs, Piper Sandler, and Cantor Fitzgerald are among the lead managers for the offering. This funding aims to support Cytokinetics' development of muscle-related treatments.

Cytokinetics plans to offer $150 million of its common stock in an underwritten public offering, pending market conditions. The underwriters may purchase an additional 15% of the shares. This offering will be managed by Goldman Sachs, Piper Sandler, and Cantor Fitzgerald, with Barclays participating as a book-running manager. The securities are being offered under a shelf registration statement filed on November 6, 2019, with the SEC. No assurance is provided regarding the completion or terms of the offering.

Cytokinetics announced a partnership with RTW Investments and Ji Xing Pharmaceuticals to advance CK-274, a cardiac myosin inhibitor aimed at treating hypertrophic cardiomyopathy (HCM). The agreement includes up to $250 million in committed capital and $200 million in milestone payments. Cytokinetics will receive royalties on future sales in Asia, while Ji Xing will develop and commercialize CK-274 in China and Taiwan. Additionally, RTW has purchased $50 million of Cytokinetics stock. A conference call is scheduled for today at 8:30 AM ET.

Cytokinetics (Nasdaq: CYTK) will host a Virtual Investor and Analyst Day on July 15, 2020, from 8:30 AM to 11:30 AM ET. Senior management will present updates on its cardiovascular pipeline and commercial strategies. The event will feature expert discussions on heart failure therapy and hypertrophic cardiomyopathy (HCM) with renowned clinicians. A patient panel will also share insights on these conditions. Interested participants can register at CYTKInvestorDay. Archived access will be available until July 15, 2021.

Cytokinetics announced that CEO Robert I. Blum will participate in two important virtual healthcare conferences. On June 10 at 4:40 PM EDT, he will engage in a fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference, followed by participation in the Raymond James Human Health Innovation Conference on June 18, 2020. The events can be accessed through Cytokinetics' website, with replays available for 90 days. Cytokinetics is notable for its innovative muscle activators and inhibitors aimed at treating diseases affecting muscle performance.

Cytokinetics (CYTK) has renewed its partnership with The ALS Association to bolster efforts against Amyotrophic Lateral Sclerosis (ALS). As part of this collaboration, Cytokinetics will sponsor the 2020 ALS Roundtables and ALS Focus, a survey program aiming to understand patient experiences. Additionally, the company provides substantial funding for ALS care services in the Bay Area. Cytokinetics is committed to enhancing awareness and education about ALS while actively participating in local fundraising events. This partnership underscores the company's dedication to improving care for ALS patients amidst ongoing challenges.

The FDA has granted Fast Track designation to omecamtiv mecarbil, a cardiac myosin activator from Cytokinetics and Amgen, for treating chronic heart failure with reduced ejection fraction (HFrEF). This designation may speed up the review process for drugs addressing unmet medical needs. The ongoing GALACTIC-HF study, which enrolled 8,256 patients globally, aims to evaluate omecamtiv mecarbil's effectiveness in reducing heart failure events and cardiovascular deaths. Top-line results are expected in Q4 2020.