Cytokinetics Inc CYTK:NASDAQ

Last Price$50.30NASDAQ Previous Close - Last Trade as of 4:00PM ET 8/12/22
NASDAQ 15-minute delayed Bid/Ask Quotes
Today's Change0(0.00%)
Bid (Size)$47.54 (3)
Ask (Size)$52.50 (49)
Day Low / HighN/A - N/A
Volume850.6 K

Update: Cytokinetics Proposes Private Offering of $450 Million Convertible Senior Notes -- Shares Sink in Pre-Market Trading

7:06AM ET 6/30/2022 MT Newswires
(Updates with the stock move in the headline and the first paragraph.)

Cytokinetics (CYTK) shares slumped more than 17% in the most recent pre-market trading on Thursday after the company proposed a private offering of $450 million of convertible senior notes due 2027.

The company said late Wednesday it expects to grant the initial buyers an option to buy up to an additional $90 million of notes.

Net proceeds will be used to repurchase a portion of the company's outstanding 4.00% convertible senior notes due 2026 and expand certain clinical development programs.

Price: 39.92, Change: -8.82, Percent Change: -18.1