Cytokinetics Inc Stock Price, News & Analysis

Cytokinetics announced inducement grants under Nasdaq Listing Rule 5635(c)(4) for 10 new employees whose employment began in June 2024. These grants include stock options for 48,453 shares at an exercise price of $54.18 per share, 31,460 restricted stock units (RSUs), and 5,537 performance stock units (PSUs). The RSUs will vest over three years, while stock options will vest over four years with a 10-year term. PSUs are tied to performance goals, vesting based on achievement certifications by the Compensation and Talent Committee. These awards are leveraged to attract and retain new talent.

Cytokinetics announced the initiation of a Phase 1 study to evaluate the pharmacokinetics, safety, and tolerability of aficamten in healthy Japanese and Caucasian participants.

This double-blind, randomized, placebo-controlled trial will involve 70 participants split into four cohorts.

The study aims to gather essential data for potential approval in Japan and to complement ongoing global clinical development and regulatory submissions in the U.S. and Europe, expected later this year.

Cytokinetics announced inducement grants under Nasdaq Listing Rule 5635(c)(4) on June 4, 2024. The company granted stock options, RSUs, and PSUs to its new CFO, Sung H. Lee, and 12 other employees. Sung H. Lee received 53,417 stock options, 34,684 RSUs, and 34,426 PSUs, while the other employees were granted 93,525 stock options, 60,724 RSUs, and 40,610 PSUs. The RSUs will vest over three years, and stock options will vest over four years with an exercise price of $48.51 per share. PSUs will vest based on achieving performance goals. All grants are inducements for employment.

Cytokinetics (Nasdaq: CYTK) announced its participation in two major healthcare investor conferences in June 2024.

Robert I. Blum, President and CEO, alongside Andrew Callos, EVP and Chief Commercial Officer, will join fireside chats at both events.

The Jefferies Global Healthcare Conference occurs on June 5 at 2:00 PM ET in New York, while the 45th Annual Goldman Sachs Healthcare Conference will be on June 10 at 11:20 AM ET in Miami Beach.

Live webcasts of these chats will be accessible via Cytokinetics' website, with replays available for 90 days post-event.

Cytokinetics announced the closing of its public offering of 9,803,922 shares of common stock at $51.00 per share. The offering raised approximately $500 million before expenses. The offering was managed by J.P. Morgan, Goldman Sachs & Co. , and Morgan Stanley. The securities were offered under a shelf registration statement filed in November 2022 with the SEC, which is now effective.

Cytokinetics announced the pricing of a public offering of 9,803,922 shares of its common stock at $51.00 per share.

Expected gross proceeds are approximately $500 million before underwriting discounts and other expenses.

The offering is set to close on May 28, 2024, subject to customary conditions.

The company has also given underwriters a 30-day option to buy an additional 1,470,588 shares at the public offering price, less underwriting discounts and commissions.

J.P. Morgan, Goldman Sachs, and Morgan Stanley are acting as joint book-running managers for the offering.

Cytokinetics announced a proposed public offering of approximately $500 million of common stock, subject to market conditions.

The company plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

J.P. Morgan, Goldman Sachs & Co. , and Morgan Stanley will act as joint book-running managers.

The securities will be offered under a shelf registration statement filed with the SEC on November 18, 2022, which is effective.

A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on their website.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy the securities.

Cytokinetics and Royalty Pharma have announced an expanded funding collaboration worth up to $575 million, aimed at supporting the commercial launch of aficamten and advancing Cytokinetics' cardiovascular pipeline.

This partnership provides Cytokinetics with $250 million upon closing, with an additional $175 million potentially available within 12 months post-approval of aficamten in obstructive hypertrophic cardiomyopathy (oHCM). The deal includes funding for Phase 3 trials of omecamtiv mecarbil and Phase 2 trials of CK-586, as well as restructuring royalties on aficamten sales.

Royalty Pharma will also purchase $50 million in Cytokinetics' equity. This strategic collaboration aims to support Cytokinetics' financial stability and growth, while advancing its specialty cardiology projects.

Cytokinetics announced the hosting of the Contemporary Landscapes in Muscle Biology (CLIMB) Research Symposium on May 17, 2024, at the Mission Bay Conference Center in San Francisco. This one-day event will bring together top scientists, researchers, and emerging professionals in the field of muscle biology to share innovative research, foster collaboration, and promote interdisciplinary dialogue. The symposium will feature expert speakers such as Eric Adler, M.D., Rachelle H. Crosbie, Ph.D., and Deepak Srivastava, M.D., among others. Cytokinetics aims to advance the understanding and treatment of muscle-related diseases through this initiative, emphasizing its commitment to pioneering therapeutic applications in muscle biology.