Cytokinetics Inc Stock Price, News & Analysis

Cytokinetics (Nasdaq: CYTK) announced its participation in four upcoming investor conferences. On September 9-10, 2020, Cytokinetics' senior management will engage in one-on-one meetings at Citi's 15th Annual Virtual BioPharma Conference. Additionally, President & CEO Robert I. Blum will present at the Morgan Stanley Annual Virtual Global Healthcare Conference on September 14 at 10:30 AM ET, followed by the H.C. Wainwright Conference on September 15 at 11:00 AM ET, and the Cantor Fitzgerald Conference on September 16 at 10:00 AM ET. Webcast access is available via Cytokinetics' website.

Cytokinetics (Nasdaq: CYTK) announced a $1 million grant and a four-year partnership with the HCM Registry to enhance understanding of hypertrophic cardiomyopathy (HCM) and its complications. The HCM Registry, a global patient registry, aims to identify novel prognostic markers and biomarkers related to HCM. Enrollment for the study, led by the University of Virginia and the University of Oxford, included 2,755 participants across North America and Europe. The partnership aligns with Cytokinetics’ commitment to patient-centered research and outcomes in heart muscle disorders.

Cytokinetics (CYTK) reported a net loss of $40.8 million for Q2 2020, equating to $0.68 per share, compared to $32.1 million or $0.56 per share in Q2 2019. Despite challenges posed by COVID-19, cash and investments reached $213.1 million by June 30, 2020. The company executed transactions expected to provide up to $250 million in cash and milestone payments. GALACTIC-HF clinical trial results are anticipated in Q4 2020. Revenue declined to $3.6 million in Q2 2020 from $7.1 million in the previous year.

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.