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.
For more detailed updates and news, visit here, here, here, and here.
For investor inquiries, please contact Diane Weiser, Senior Vice President of Corporate Affairs, at (415) 290-7757.
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.
Cytokinetics announced that CEO Robert I. Blum will participate in two important virtual healthcare conferences. On June 10 at 4:40 PM EDT, he will engage in a fireside chat at the Goldman Sachs 41st Annual Global Healthcare Conference, followed by participation in the Raymond James Human Health Innovation Conference on June 18, 2020. The events can be accessed through Cytokinetics' website, with replays available for 90 days. Cytokinetics is notable for its innovative muscle activators and inhibitors aimed at treating diseases affecting muscle performance.
Cytokinetics (CYTK) has renewed its partnership with The ALS Association to bolster efforts against Amyotrophic Lateral Sclerosis (ALS). As part of this collaboration, Cytokinetics will sponsor the 2020 ALS Roundtables and ALS Focus, a survey program aiming to understand patient experiences. Additionally, the company provides substantial funding for ALS care services in the Bay Area. Cytokinetics is committed to enhancing awareness and education about ALS while actively participating in local fundraising events. This partnership underscores the company's dedication to improving care for ALS patients amidst ongoing challenges.
The FDA has granted Fast Track designation to omecamtiv mecarbil, a cardiac myosin activator from Cytokinetics and Amgen, for treating chronic heart failure with reduced ejection fraction (HFrEF). This designation may speed up the review process for drugs addressing unmet medical needs. The ongoing GALACTIC-HF study, which enrolled 8,256 patients globally, aims to evaluate omecamtiv mecarbil's effectiveness in reducing heart failure events and cardiovascular deaths. Top-line results are expected in Q4 2020.
Cytokinetics (Nasdaq: CYTK) announced its Annual Meeting of Stockholders on May 13, 2020, at 10:30 AM PT in South San Francisco. Due to COVID-19, safety measures including masks and temperature checks will be implemented. Stockholders of record by March 23, 2020, are eligible to vote either in person or via proxy until May 12, 2020, at 11:59 PM ET. A live webcast of the meeting and subsequent CEO presentation will be available on the company's website. Cytokinetics focuses on developing innovative muscle activators and inhibitors for diseases that affect muscle performance.
Cytokinetics, incorporated (NASDAQ: CYTK) reported a net loss of $39.4 million, or $0.66 per share for Q1 2020, compared to a loss of $29.4 million, or $0.54 per share in Q1 2019. Cash, cash equivalents, and investments stand at $237.2 million, providing a runway of over two years based on expected spending of $105-115 million in 2020. The company anticipates top-line results from the GALACTIC-HF trial in Q4 2020 and continues to prioritize clinical programs despite COVID-19 related challenges.
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