MYQORZO launch lifts Cytokinetics (Nasdaq: CYTK) Q2 sales, $760M raise
Rhea-AI Filing Summary
Cytokinetics reported Q2 2026 results highlighted by initial MYQORZO sales and a major equity raise. Total revenues were $28.6 million, driven by $25.3 million in MYQORZO net product revenue and $3.3 million in collaboration revenue, with no license or milestone revenues. Net loss widened to $198.8 million, or $1.50 per share, as selling, general and administrative costs increased with the commercial launch.
The company ended June 30, 2026 with approximately $1.7 billion in cash, cash equivalents and investments, compared to $1.1 billion at March 31, 2026, supported by a public offering of 11,338,028 shares at $71.00 per share that generated about $760.1 million in net proceeds. As of quarter end, over 700 healthcare providers had prescribed MYQORZO, approximately 1,500 patients had been dispensed therapy and over 80% of patients on therapy were on paid prescriptions. Cytokinetics announced positive Phase 3 ACACIA-HCM results in non-obstructive hypertrophic cardiomyopathy and plans to file a supplemental NDA in the fourth quarter of 2026, while raising its 2026 GAAP combined R&D and SG&A expense guidance to $860–$890 million.
Positive
- Balance sheet strengthened with ~$1.7 billion in cash, cash equivalents and investments as of June 30, 2026, aided by $760.1 million of net proceeds from a Q2 equity offering.
- Commercialization of MYQORZO is advancing, with $25.3 million in Q2 2026 net product revenue, over 700 prescribers and approximately 1,500 patients dispensed therapy.
Negative
- Q2 2026 net loss increased to $198.8 million (vs. $134.4 million a year earlier), and 2026 GAAP combined R&D and SG&A expense guidance was raised to $860–$890 million.
Filing Explained
As of June 30, 2026, total stockholders’ deficit was $173,487 thousand.
This August 6 Form 8-K reports a completed second-quarter results disclosure and a completed common-stock offering; the offering added shares to the company’s capital structure.
The offering issued
The company disclosed LVEF below 50% in 10% of aficamten participants versus 1% on placebo and two participants experienced a serious heart-failure adverse event while having LVEF below 50%.
Full ACACIA-HCM results are scheduled for presentation at the ESC Congress in August 2026, and the planned supplemental NDA for non-obstructive HCM remains a Q4 2026 filing milestone.
8-K Event Classification
Key Figures
Key Terms
non-obstructive hypertrophic cardiomyopathy (nHCM) medical
Kansas City Cardiomyopathy Questionnaire (KCCQ) medical
supplemental New Drug Application regulatory
Health Technology Assessment (HTA) dossiers regulatory
revenue participation right purchase agreements financial
RPI Transactions financial
Earnings Snapshot
Cytokinetics now expects 2026 GAAP combined R&D and SG&A expenses of $860 million to $890 million, including $140 million to $130 million of non-cash stock-based compensation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Cytokinetics (CYTK) revenues and net loss for Q2 2026?
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How is MYQORZO performing commercially for Cytokinetics (CYTK)?
What were the key ACACIA-HCM Phase 3 results for Cytokinetics (CYTK)?
How did Cytokinetics (CYTK) update its 2026 expense guidance?
What major financing did Cytokinetics (CYTK) complete in Q2 2026?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 6, 2026, Cytokinetics, Incorporated announced its financial results for the second quarter 2026 ended June 30, 2026. The full text of the press release issued in connection with this announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished under this Item 2.02 and under Exhibit 99.1 shall not be considered “filed” under the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any future filing under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Registrant expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated August 6, 2026
104 The cover page of this report has been formatted in Inline XBRL
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CYTOKINETICS, INCORPORATED |
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Date: |
August 6, 2026 |
By: |
/s/ John O. Faurescu |
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John O. Faurescu |
Cytokinetics Reports Second Quarter 2026 Financial Results and Provides Business Update
MYQORZO® (aficamten) Net Product Revenue of $25 Million
Full Results from ACACIA-HCM to be Presented in Hot Line Session at ESC;
Expect to Submit Supplemental NDA for Aficamten in Non-Obstructive HCM in Q4 2026
MYQORZO Launched in Germany, Approved in United Kingdom and
Regulatory Review Ongoing in Canada, Switzerland, Hong Kong and Taiwan
~$1.7 Billion in Cash, Cash Equivalents and Investments as of June 30, 2026
SOUTH SAN FRANCISCO, Calif., Aug. 6, 2026 - Cytokinetics, Incorporated (Nasdaq: CYTK) reported a management update and financial results for the second quarter of 2026.
“Our second quarter results demonstrate commercial launch momentum for MYQORZO alongside continued excellence for our development pipeline, both hallmarks of continued strong execution for our maturing business. In the U.S., we continued to build launch velocity evidenced by expanding physician adoption and increasing patient access. Internationally, we launched MYQORZO in Germany and laid the foundation for broadening access to aficamten by submitting reimbursement dossiers alongside regulatory filings advancing in multiple countries in Europe,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “We look forward to sharing results from ACACIA-HCM later this month and submitting a supplemental NDA to the U.S. Food and Drug Administration in the fourth quarter. Having also secured additional capital during the recent quarter, we have the financial resources to invest in both the global commercialization of MYQORZO and the continued progression of our pipeline, positioning us well to maximize the potential of our specialty cardiology franchise.”
Q2 and Recent Highlights
Cardiac Muscle Programs
MYQORZO® (aficamten) (cardiac myosin inhibitor)
omecamtiv mecarbil (cardiac myosin activator)
ulacamten (cardiac myosin inhibitor)
CK-4015089 (CK-089, fast skeletal muscle troponin activator)
Pre-Clinical Development and Ongoing Research
Q2 2026 Financial Results
Cash, Cash Equivalents and Investments
Revenues
Research and Development (R&D) Expenses
Selling, General and Administrative (SG&A) Expenses
Cost of Goods Sold
Collaboration Cost of Revenues
Net Income (Loss)
2026 Financial Guidance
The company is updating its full year 2026 financial guidance:
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Prior guidance issued on February 24, 2026 and reiterated on May 5, 2026 |
Current guidance issued on August 6, 2026 |
GAAP combined R&D and SG&A Expense |
$830 million to $870 million |
$860 million to $890 million |
Non-cash stock-based compensation expense included |
$130 million to $120 million |
$140 million to $130 million |
in GAAP combined R&D and SG&A Expense |
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GAAP combined R&D and SG&A expense guidance increase is primarily driven by commercial readiness investments, prompted by the positive results from ACACIA-HCM, to support the potential 2027 launch of MYQORZO in nHCM.
The financial guidance does not include the effect of GAAP adjustments as may be caused by events that occur subsequent to publication of this guidance including, but not limited to, Business Development activities.
Conference Call and Webcast Information
Members of Cytokinetics’ senior management team will review the company’s second quarter 2026 results on a conference call today at 4:30 PM Eastern Time. The conference call will be simultaneously webcast and can be accessed from the Investors & Media section of Cytokinetics’ website at www.cytokinetics.com or directly at the following link: Cytokinetics Q2 2026 Earnings Conference Call. An archived replay of the webcast will be available via Cytokinetics’ website for six months.
About Cytokinetics
Cytokinetics is a specialty cardiovascular biopharmaceutical company, building on its over 25 years of pioneering scientific innovations in muscle biology, and advancing a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction. Cytokinetics’ MYQORZO® (aficamten) is a cardiac myosin inhibitor approved in the U.S., China, Europe and the UK for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Following positive topline results in ACACIA-HCM, a Phase 3 clinical trial of aficamten in patients with non-obstructive HCM (nHCM), the company plans to submit a Supplemental New Drug Application in Q4 2026. Cytokinetics is also developing omecamtiv mecarbil, an investigational cardiac myosin activator for the potential treatment of patients with heart failure with severely reduced ejection fraction and ulacamten, an investigational cardiac myosin inhibitor for the potential treatment of heart failure with preserved ejection fraction, while continuing pre-clinical research and development in muscle biology.
For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on X, LinkedIn, Facebook and YouTube.
Disclaimer
Omecamtiv mecarbil, ulacamten and CK-089 are investigational medicines. They have not been approved nor determined to be safe or efficacious for any disease state or any indication by FDA or any other regulatory agency.
Forward-Looking Statements
This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but not limited to, statements, express or implied, relating to the full results from ACACIA-HCM to be presented in a Hot Line Session at the European Society of Cardiology (ESC) Congress; our plans to submit a Supplemental NDA for aficamten in non-obstructive HCM in the fourth quarter of 2026, and the timing and outcome of any related regulatory review; our plans to launch MYQORZO in additional markets
outside the U.S., including our expectation to launch in more than five additional markets by the first half of 2027, and the timing and outcome of pending regulatory and reimbursement reviews in Canada, Switzerland, Hong Kong, Taiwan and other jurisdictions, our or our partners’ research and development and commercial readiness activities, including the initiation, conduct, design, enrollment, progress, continuation, completion, timing and results of any of our clinical trials, including ACACIA-HCM (including its Japan cohort), CAMELLIA-HCM, COMET-HF, AMBER-HFpEF and CEDAR-HCM; the clinical meaningfulness, persuasiveness, or interpretation of the results of MAPLE-HCM, ACACIA-HCM or any of our other clinical trials, including for purposes of regulatory approval, labeling, or market acceptance, the results of long-term, secondary or exploratory analyses, our ability to announce the results of any of our clinical trials by any particular date, the timing of interactions with FDA or any other regulatory authorities in connection to any of our drug candidates and the outcomes of such interactions; statements related to our receipt of regulatory approvals for aficamten in any ex-US jurisdiction for any indication and by any particular date, statements relating to the potential patient population who could benefit from aficamten, omecamtiv mecarbil, ulacamten, CK-089 or any of our other drug candidates; statements related to the potential launch of MYQORZO in non-obstructive HCM in 2027; our full year 2026 financial guidance, including our combined GAAP research and development and selling, general and administrative expense guidance and related non-cash stock-based compensation expense estimates, and the assumptions underlying such guidance; statements relating to our ability to receive additional capital or other funding, including, but not limited to, our ability to meet any of the conditions relating to or to otherwise secure additional loan disbursements under any of our agreements with entities affiliated with Royalty Pharma or additional milestone payments from Sanofi or Bayer in connection with our collaborations for aficamten in China or Japan respectively; statements relating to our operating expenses or cash utilization for the remainder of 2026 or any other period, and statements relating to our cash balance at any particular date or the amount of cash runway such cash balances represent at any particular time. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to Cytokinetics’ need for additional funding and such additional funding may not be available on acceptable terms, if at all; potential difficulties or delays in the development, testing, regulatory approvals for trial commencement, progression or product sale or manufacturing, or production of Cytokinetics’ drug candidates that could slow or prevent clinical development or product approval; patient enrollment for or conduct of clinical trials may be difficult or delayed; the FDA or foreign regulatory agencies may delay or limit Cytokinetics’ or its partners’ ability to conduct clinical trials; Cytokinetics may incur unanticipated research and development and other costs; standards of care may change, rendering Cytokinetics’ drug candidates obsolete; and competitive products or alternative therapies may be developed by others for the treatment of indications Cytokinetics’ drug candidates and potential drug candidates may target. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission, particularly under the caption “Risk Factors” in Cytokinetics’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2025. Forward-looking statements are not guarantees of future performance, and Cytokinetics’ actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
CYTOKINETICS® and the CYTOKINETICS C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.
MYQORZO® is a registered trademark of Cytokinetics in the U.S. and European Union.
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Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757
Cytokinetics, Incorporated |
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Condensed Consolidated Balance Sheets |
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(in thousands) |
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June 30, 2026 |
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December 31, 2025 |
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(unaudited) |
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ASSETS |
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Current assets: |
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Cash and short term investments |
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$ 1,165,686 |
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$ 882,221 |
Other current assets |
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42,801 |
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34,754 |
Total current assets |
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1,208,487 |
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916,975 |
Long-term investments |
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538,317 |
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335,048 |
Property and equipment, net |
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78,916 |
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79,194 |
Operating lease right-of-use assets |
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72,896 |
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75,979 |
Inventories, long-term |
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6,529 |
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— |
Other assets |
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19,406 |
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17,341 |
Total assets |
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$ 1,924,551 |
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$ 1,424,537 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT |
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Current liabilities: |
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Accounts payable and accrued liabilities |
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$ 97,372 |
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$ 105,615 |
Short-term operating lease liabilities |
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21,042 |
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19,111 |
Current portion of convertible and long-term debt |
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27,358 |
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41,181 |
Derivative liabilities measured at fair value |
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30,700 |
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31,100 |
Deferred revenue |
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1,653 |
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1,612 |
Other current liabilities |
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3,304 |
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3,833 |
Total current liabilities |
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181,429 |
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202,452 |
Term loan, net |
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248,202 |
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246,384 |
Convertible notes, net |
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871,527 |
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869,597 |
Liabilities related to revenue participation right purchase agreements, net |
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558,054 |
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520,559 |
Long-term operating lease liabilities |
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102,426 |
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107,970 |
Liabilities related to RPI Transactions measured at fair value |
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136,400 |
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137,200 |
Total liabilities |
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2,098,038 |
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2,084,162 |
Commitments and contingencies |
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Stockholders' deficit |
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Common stock |
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138 |
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123 |
Additional paid-in capital |
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3,721,713 |
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2,826,341 |
Accumulated other comprehensive (loss) income |
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(3,826) |
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630 |
Accumulated deficit |
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(3,891,512) |
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(3,486,719) |
Total stockholders' deficit |
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(173,487) |
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(659,625) |
Total liabilities and stockholders' deficit |
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$ 1,924,551 |
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$ 1,424,537 |
Cytokinetics, Incorporated |
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Condensed Consolidated Statements of Operations |
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(in thousands except per share data) |
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(unaudited) |
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Three Months Ended |
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Six Months Ended June 30, |
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June 30, 2026 |
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June 30, 2025 |
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June 30, 2026 |
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June 30, 2025 |
Revenues: |
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Net product revenue |
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$ 25,334 |
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$ — |
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$ 30,123 |
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$ — |
Collaboration revenues |
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3,290 |
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2,416 |
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5,927 |
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3,995 |
License and milestone revenues |
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- |
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64,353 |
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11,929 |
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64,353 |
Total revenues |
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28,624 |
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66,769 |
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47,979 |
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68,348 |
Operating expenses: |
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Research and development |
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97,807 |
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110,138 |
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193,332 |
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208,400 |
Selling, general and administrative |
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104,397 |
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65,721 |
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209,293 |
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123,090 |
Cost of goods sold |
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2,731 |
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— |
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2,891 |
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— |
Collaboration cost of revenues |
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2,861 |
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2,416 |
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5,253 |
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3,995 |
Total operating expenses |
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207,796 |
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178,275 |
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410,769 |
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335,485 |
Operating loss |
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(179,172) |
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(111,506) |
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(362,790) |
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(267,137) |
Interest and other expense, net |
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(14,654) |
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(11,084) |
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(29,173) |
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(19,952) |
Non-cash interest expense on liabilities related to revenue participation right purchase agreements |
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(20,177) |
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(13,181) |
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(38,993) |
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(27,259) |
Interest and other income, net |
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13,941 |
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13,001 |
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24,963 |
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26,702 |
Change in fair value of derivative liabilities |
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(1,100) |
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3,000 |
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400 |
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2,600 |
Change in fair value of liabilities related to RPI Transactions |
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2,400 |
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(14,600) |
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800 |
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(10,700) |
Net loss |
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$ (198,762) |
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$ (134,370) |
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$ (404,793) |
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$ (295,746) |
Net loss per share — basic and diluted |
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$ (1.50) |
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$ (1.12) |
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$ (3.17) |
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$ (2.49) |
Weighted-average number of shares used in computing net loss per share — basic and diluted |
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132,086 |
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119,457 |
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127,704 |
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118,979 |