Cytokinetics Announces Changes to Board of Directors

Rhea-AI Summary

Cytokinetics (NASDAQ: CYTK) announces significant changes to its Board of Directors effective April 8, 2022. L. Patrick Gage, Ph.D., resigns as Chairman after over a decade, while John T. Henderson, M.B., Ch.B., steps into the role. Additionally, Robert A. Harrington, M.D., joins the Board, bringing extensive clinical trial experience. Dr. Henderson, a long-standing Board member, is set to guide the company during its transformation. Cytokinetics remains focused on developing innovative muscle-related therapies, including the potential commercialization of omecamtiv mecarbil for heart failure.

Positive

• John T. Henderson's appointment as Chairman may provide continuity and stability during a critical transformation phase.
• Robert A. Harrington's expertise in global cardiovascular clinical trials could enhance the company's strategic direction.

Negative

• The departure of Dr. Gage may create concerns regarding leadership continuity and potential gaps in experience.

L. Patrick Gage, Ph.D. to Retire from Board

John T. Henderson, M.B., Ch.B. Named Chairman of Board

Robert A. Harrington, M.D. Appointed to Board

SOUTH SAN FRANCISCO, Calif., April 08, 2022 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced changes to its Board of Directors. L. Patrick Gage, Ph.D., Chairman of the Board of Directors since March 2010, will resign from the Board effective April 8, 2022. Following Dr. Gage’s retirement, the Board has appointed John T. Henderson, M.B., Ch.B. as Chairman of the Board. Additionally, Robert A. Harrington, M.D., Arthur L. Bloomfield Professor and Chair, Department of Medicine, Stanford University, has been appointed to the company’s Board of Directors, also effective today.

“We would like to express our gratitude to Pat for his longstanding service to our Board and for his prescient wisdom and guidance in support of our corporate maturation. As Pat departs, we welcome John, another tenured member of our Board, to his new role as Chairman. John is well-suited to provide continuity of vision and disciplined oversight during the next period of transformation for our company,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “In addition, we are pleased to welcome Bob to our Board and look forward to his contributions and criticality of thought, considering his expertise having overseen dozens of global cardiovascular clinical trials aligned with our mission to improve patients’ lives.”

Dr. Henderson has served as a member of the company’s Board since February 2009. Since December 2000, he has served as a consultant to the pharmaceutical industry. Prior to his retirement in 2000, Dr. Henderson was employed by Pfizer Inc. for more than 25 years and was most recently Vice President in the Pfizer Pharmaceuticals Group. He previously served as Vice President, Research & Development in Europe, and later Japan, as well as Vice President, Medical for Pfizer’s Europe, U.S., and International Pharmaceuticals groups.

Dr. Harrington is a cardiologist and the Arthur L. Bloomfield Professor of Medicine and Chair of the Department of Medicine at Stanford University. Dr. Harrington was previously the Richard Sean Stack, MD Distinguished Professor and the Director of the Duke Clinical Research Institute (DCRI) at Duke University. He has served as a member of the American College of Cardiology (ACC) Board of Trustees and is currently a member of the American Heart Association’s (AHA) Board of Directors, its Science Advisory and Coordinating Committee, and a past President (2019-2020). He is an elected member of the Association of American Physicians (AAP) and the Association of University Cardiologists (AUC). In 2015, he was elected to membership in the National Academy of Medicine/Institute of Medicine. In 2016, he was named a Master of the American College of Cardiology. He was awarded the AHA's Clinical Research Prize in 2017. Dr. Harrington earned a B.A. in English at the College of the Holy Cross and an M.D. from Tufts University School of Medicine.

About Cytokinetics

Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact muscle function and contractility. Cytokinetics is readying for the potential commercialization of omecamtiv mecarbil, its cardiac muscle activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure. Cytokinetics is also developing aficamten, a next-generation cardiac myosin inhibitor, currently the subject of SEQUOIA-HCM, the Phase 3 clinical trial of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy (HCM). Aficamten is also being evaluated in non-obstructive HCM in Cohort 4 of the Phase 2 clinical trial, REDWOOD-HCM. Cytokinetics is also developing reldesemtiv, an investigational fast skeletal muscle troponin activator, currently the subject of COURAGE-ALS, a Phase 3 clinical trial in patients with amyotrophic lateral sclerosis (ALS). Cytokinetics continues its over 20-year history of pioneering innovation in muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on Twitter, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Cytokinetics disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Act's Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Cytokinetics' and its partners' research and development activities of Cytokinetics’ product candidates. 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 the risks related to Cytokinetics' business outlined in Cytokinetics' filings with the Securities and Exchange Commission. 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.

Contact:
Cytokinetics
Joanna Siegall
Associate Director, Corporate Communications, Investor Relations
(650) 624-3283

FAQ

What recent changes occurred in the Board of Directors at Cytokinetics (CYTK)?

Cytokinetics announced the retirement of L. Patrick Gage, Ph.D., from the Board, effective April 8, 2022, and appointed John T. Henderson, M.B., Ch.B., as the new Chairman. Robert A. Harrington, M.D., was also appointed to the Board.

Why is L. Patrick Gage retiring from Cytokinetics (CYTK)?

L. Patrick Gage resigned from his position after over a decade of leadership, allowing for new perspectives as the company undergoes transformation.

What is John T. Henderson's background and his role in Cytokinetics (CYTK)?

John T. Henderson has been a member of the Board since 2009 and brings extensive pharmaceutical experience to his new role as Chairman.

Who is Robert A. Harrington and what expertise does he bring to Cytokinetics (CYTK)?

Robert A. Harrington is a well-respected cardiologist with a strong background in overseeing global cardiovascular clinical trials, which aligns with Cytokinetics' mission.

What strategic directions could John T. Henderson's leadership bring to Cytokinetics (CYTK)?

Under Henderson's leadership, Cytokinetics may experience enhanced strategic oversight and continuity as the company advances its clinical initiatives.