Cytokinetics Inc CYTK:NASDAQ

Last Price$42.15NASDAQ Previous Close - Last Trade as of 4:00PM ET 5/17/22

Today's Change-1.25(2.88%)
Bid (Size)$42.11 (13)
Ask (Size)$44.01 (1)
Day Low / High$41.60 - 43.60
Volume1.1 M

Cytokinetics Secures Up to $450 Million in Funding From Royalty Pharma for Heart Disease Drug Candidates

8:22AM ET 1/07/2022 MT Newswires
Cytokinetics (CYTK) said Friday it has secured funding of up to $450 million from Royalty Pharma (RPRX) for the potential commercialization of omecamtiv mecarbil and the further development of aficamten.

Omecamtiv mecarbil, which has received a fast track designation from the US Food and Drug Administration, was developed for patients with heart failure with reduced ejection fraction. Meanwhile, aficamten is being tested for the potential treatment of hypertrophic cardiomyopathy.

The company said it will get the first $50 million upon closing, and the $250 million portion will be given in four tranches if certain milestones are achieved. Royalty Pharma will also pay up to $150 million in exchange for royalty on sales of aficamten.

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