Welcome to our dedicated page for Cytokinetics news (Ticker: CYTK), a resource for investors and traders seeking the latest updates and insights on Cytokinetics stock.
Cytokinetics Inc. (symbol: CYTK) is a leading biopharmaceutical company focused on the discovery, development, and commercialization of pioneering muscle activators. With a primary goal of addressing debilitating diseases where muscle performance is compromised, Cytokinetics is at the forefront of muscle biology research.
Specializing in muscle function and contractility, Cytokinetics has developed small molecule drug candidates aimed at enhancing muscle performance. The company’s innovative treatments target diseases such as amyotrophic lateral sclerosis (ALS), heart failure, spinal muscular atrophy (SMA), and chronic obstructive pulmonary diseases (COPD).
Some of the key investigational medicines in the pipeline include:
- CK-4021586 (CK-586): A cardiac myosin inhibitor showing promise in the treatment of cardiac diseases.
- Aficamten: Designed to improve heart muscle function in chronic heart failure patients.
- Omecamtiv Mecarbil: Another advanced therapy aimed at boosting heart muscle performance.
With a strong emphasis on improving the quality of life for patients with severe cardiovascular and neuromuscular diseases, Cytokinetics is committed to groundbreaking research and development. The company's strategic partnerships and collaborations support its mission to bring effective treatments to market, providing hope to patients worldwide.
Recently, Cytokinetics has been actively engaged in investor events and webcasts, sharing forward-looking statements and updates about its latest achievements and ongoing projects. The company's commitment to transparency and investor relations has established it as a reliable entity in the biopharmaceutical industry.
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For investor inquiries, please contact Diane Weiser, Senior Vice President of Corporate Affairs, at (415) 290-7757.
Cytokinetics will host an Analyst and Investor Day on October 7, 2021, from 8:30 AM to 11:30 AM ET at the Westin Grand Central Hotel, New York City. The event will provide updates on commercialization and the cardiovascular pipeline, featuring expert clinicians discussing heart failure challenges. Registration is required by October 6, and the event will also be streamed online. Cytokinetics is advancing treatments for heart failure and hypertrophic cardiomyopathies, with the upcoming U.S. NDA submission for omecamtiv mecarbil following positive Phase 3 trial results.
Cytokinetics announced full results from the REDWOOD-HCM Phase 2 trial evaluating aficamten for hypertrophic cardiomyopathy, showing significant reductions in left ventricular outflow tract gradients and heart failure symptoms. Aficamten demonstrated dose-dependent effects, with 79% of patients reaching treatment goals. Additionally, results from the GALACTIC-HF trial indicated benefits of omecamtiv mecarbil in Black patients, with a 18% trend towards reduced heart failure hospitalization. A Phase 3 trial for aficamten is expected to start by year-end.
Cytokinetics (Nasdaq: CYTK) announced participation in three investor conferences in September 2021. The events include the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, and the Cantor Virtual Global Healthcare Conference on September 27. All presentations will be available for on-demand viewing on Cytokinetics' website. The company focuses on developing innovative muscle activators and inhibitors, with ongoing trials for omecamtiv mecarbil and aficamten.
Cytokinetics will host a conference call and webcast on September 13, 2021, at 8:30 AM ET to discuss the full results from REDWOOD-HCM, a Phase 2 clinical trial involving aficamten for patients with obstructive HCM. The results will be presented at the Heart Failure Society of America (HFSA) Annual Meeting on September 12, 2021. Interested parties can join via telephone or through the company's website. The archived replay will be available until September 27, 2021.
Cytokinetics (Nasdaq: CYTK) announced the granting of stock options for 113,600 shares to ten new employees as an inducement for their employment on August 31, 2021. The options have an exercise price of $32.97 per share, equal to the closing stock price on the grant date. They will vest over four years, with 25% vesting after one year and the remainder vesting monthly. The terms align with Nasdaq rules and are subject to the company’s equity incentive plan. Cytokinetics is recognized for its focus on drugs targeting muscle performance for various debilitating diseases.
Cytokinetics announced full results from the REDWOOD-HCM trial of aficamten for patients with obstructive hypertrophic cardiomyopathy and findings from GALACTIC-HF regarding omecamtiv mecarbil in Black patients with heart failure. Both studies will be featured in a Late Breaking Clinical Trials session at the Heart Failure Society of America Annual Scientific Meeting from September 10-13, 2021. Cytokinetics is preparing to submit a U.S. NDA for omecamtiv mecarbil based on positive Phase 3 results.
Cytokinetics (Nasdaq: CYTK) has renewed its partnership with Cure SMA to enhance education, awareness, public policy, and fundraising for spinal muscular atrophy (SMA). As a National Gold Sponsor, Cytokinetics will support initiatives including the Northern California Walk-n-Roll and the 10th Annual Hope on the Hill Congressional Dinner aimed at advocating for SMA. The partnership, emphasized by Cytokinetics' CEO Robert I. Blum, aims to amplify the patient voice and improve access to care within the SMA community.
Cytokinetics (CYTK) reported a net loss of $61.6 million, or $0.86 per share, for Q2 2021, compared to a loss of $40.8 million in Q2 2020. The company ended the quarter with $424 million in cash, expecting to exceed $600 million by year-end following a $297.3 million stock offering. Significant advancements include plans for a New Drug Application submission for omecamtiv mecarbil in 2H 2021 and positive results from REDWOOD-HCM, advancing aficamten to a pivotal Phase 3 trial. 2021 revenue guidance is set between $23 million and $28 million with operating expenses ranging from $230 million to $250 million.
Cytokinetics announced on July 30, 2021, the grant of stock options to purchase 258,750 shares to 15 new employees as an inducement for their employment. The options have an exercise price of $29.68 per share, equal to the closing price on the grant date, and will vest over four years. This action complies with Nasdaq Listing Rule 5635(c)(4). Cytokinetics focuses on developing innovative muscle activators and inhibitors to treat conditions like heart failure and hypertrophic cardiomyopathy, with ongoing Phase 3 clinical trials for their drug candidates.
Cytokinetics has launched the COURAGE-ALS Phase 3 trial for reldesemtiv, following positive outcomes from the FORTITUDE-ALS trial, which indicated a slower decline in muscle function among ALS patients treated with the drug compared to placebo. This multi-center, randomized trial aims to enroll approximately 555 patients and evaluate the drug's efficacy over 24 weeks. The trial emphasizes accessibility, incorporating patient feedback and remote participation options. Cytokinetics plans to ensure continued access to reldesemtiv for participants after trial completion.