Cytokinetics, Incorporated
- Open
- 73.55
- Day high
- 74.22
- Day low
- 71.58
- Prev close
- 71.93
- Volume
- 1.5M
- Mkt cap
- $10.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -59.3
- P/S
- 144.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$11.9M over the last 3 months (0 open-market buys, 18 sales)
- 🏛Institutions accumulating (13F)
Cytokinetics, Incorporated (CYTK) is a Healthcare company listed on NASDAQ. The stock is up 48% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 18 sales (SEC Form 4). Drillr has 1 published research article covering CYTK.
Cytokinetics, Incorporated (CYTK) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CYTK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $-1.63 | $-1.50 | +8.0% | $29M | +62.7% |
| May 5, 2026 | $-1.67 | $-1.67 | +0.0% | $19M | +127.2% |
| Feb 24, 2026 | $-1.48 | $-1.50 | -1.4% | $18M | +169.8% |
| Nov 5, 2025 | $-1.59 | $-1.54 | +3.1% | $2M | -75.9% |
| Aug 7, 2025 | $-1.34 | $-1.12 | +16.4% | $67M | +3131.1% |
| Feb 27, 2025 | $-1.29 | $-1.26 | +2.3% | $17M | +18.7% |
| Feb 27, 2024 | $-1.03 | $-1.38 | -34.0% | $2M | -84.5% |
| Nov 2, 2023 | $-0.72 | $-1.35 | -87.5% | $378000 | -96.6% |
| Aug 3, 2023 | $-1.23 | $-1.34 | -8.9% | $867000 | -85.1% |
| May 4, 2023 | $-1.24 | $-1.38 | -11.3% | $5M | +123.7% |
| Mar 1, 2023 | $-1.22 | $-1.45 | -18.9% | $2M | -72.4% |
| Nov 3, 2022 | $-1.19 | $-1.28 | -7.6% | $3M | -28.3% |
CYTK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 1, 2026 | PARSHALL B LYNNEdirector | Sell | 5,000 | $71.48 |
| Aug 31, 2026 | Callos Andrewofficer: EVP, Chief Commercial Officer | Sell | 10,000 | $70.24 |
| Aug 31, 2026 | Callos Andrewofficer: EVP, Chief Commercial Officer | Option | 10,000 | $23.26 |
| Aug 31, 2026 | Blum Robert Idirector, officer: President & CEO | Sell | 7,500 | $70.24 |
| Aug 31, 2026 | Blum Robert Idirector, officer: President & CEO | Option | 7,500 | $10.60 |
| Aug 18, 2026 | Malik Fady Ibrahamofficer: EVP Research & Development | Sell | 3,500 | $75.82 |
| Aug 18, 2026 | Malik Fady Ibrahamofficer: EVP Research & Development | Option | 3,500 | $7.80 |
| Aug 10, 2026 | Blum Robert Idirector, officer: President & CEO | Option | 7,500 | $10.60 |
| Aug 10, 2026 | Blum Robert Idirector, officer: President & CEO | Sell | 7,500 | $76.76 |
| Jul 30, 2026 | Callos Andrewofficer: EVP, Chief Commercial Officer | Option | 14,000 | $23.26 |
| Jul 30, 2026 | Callos Andrewofficer: EVP, Chief Commercial Officer | Sell | 14,000 | $79.88 |
| Jul 27, 2026 | Blum Robert Idirector, officer: President & CEO | Sell | 7,500 | $80.87 |
| Jul 27, 2026 | Blum Robert Idirector, officer: President & CEO | Option | 7,500 | $10.60 |
| Jul 23, 2026 | Malik Fady Ibrahamofficer: EVP Research & Development | Option | 3,500 | $7.80 |
| Jul 23, 2026 | Malik Fady Ibrahamofficer: EVP Research & Development | Sell | 3,500 | $80.59 |
Source: CYTK SEC Form 4 filings, latest Sep 1, 2026. For informational purposes only — not investment advice.
See the full CYTK insider & 13F page →Cytokinetics, Incorporated company profile
Overview
Cytokinetics, Incorporated (NASDAQ:CYTK) is a late-stage biopharmaceutical company founded in 1997 and headquartered in South San Francisco, California. The company went public in 2004 and has spent over two decades developing innovative treatments for debilitating muscle-related diseases. Cytokinetics specializes in discovering, developing, and commercializing small molecule drugs that target muscle function and contractility, with a particular focus on cardiac and skeletal muscle disorders. The company is currently preparing for its first potential commercial launch with aficamten, a treatment for hypertrophic cardiomyopathy that has completed Phase III trials and is under regulatory review by the FDA.
Business
Cytokinetics operates in the specialized field of muscle biology therapeutics, developing small molecule drugs that either activate or inhibit specific proteins involved in muscle contraction. The company's approach targets fundamental mechanisms of muscle function, making it distinct from traditional cardiovascular or neuromuscular treatments. The company's pipeline consists of several key programs targeting different muscle-related conditions: Aficamten represents the company's most advanced program and potential first commercial product. This cardiac myosin inhibitor is designed to treat hypertrophic cardiomyopathy (HCM), a genetic heart condition where the heart muscle becomes abnormally thick, making it difficult for the heart to pump blood effectively. HCM affects approximately 1 in 500 people and can cause shortness of breath, chest pain, and sudden cardiac death. Aficamten works by reducing the excessive force of heart muscle contractions, helping restore normal cardiac function. The drug has completed pivotal Phase III trials and is currently under FDA review with a target approval date of December 2025. Omecamtiv mecarbil takes the opposite approach as a cardiac myosin activator, designed to increase the strength of heart contractions in patients with heart failure with reduced ejection fraction. This condition affects millions of patients whose hearts cannot pump blood effectively due to weakened muscle function. Reldesemtiv is a skeletal muscle troponin activator being developed for neuromuscular diseases including amyotrophic lateral sclerosis (ALS) and spinal muscular atrophy (SMA). These devastating conditions cause progressive muscle weakness and paralysis. The company also has earlier-stage programs including CK-586 for heart failure with preserved ejection fraction, CK-136 as another cardiac troponin activator, and CK-089 for potential muscular dystrophy applications. Based on the revenue guidance and development stage, aficamten is expected to represent nearly 100% of near-term commercial revenue potential, with other programs representing future growth opportunities.
Revenue model
Cytokinetics operates a traditional biopharmaceutical business model focused on drug development and commercialization. The company generates minimal current revenue, with 2024 revenues of only $18.5 million primarily from research collaborations and milestone payments from partners like Astellas Pharma. The primary future revenue model will be product sales of approved drugs, with aficamten representing the first potential commercial opportunity. The company is preparing to launch aficamten in the U.S. market with plans to hire up to 150 sales representatives and target cardiologists and heart failure specialists who treat HCM patients. Revenue will come from direct sales to specialty pharmacies and hospitals, with pricing expected to be competitive with existing HCM treatments. The company also utilizes licensing and partnership agreements to expand global reach and share development costs. Cytokinetics has partnerships with Sanofi for aficamten commercialization in China and Bayer for Japan, which provide upfront payments, milestone payments, and royalties on future sales. Several factors could significantly impact margins and profitability. Positive factors include the rare disease nature of HCM allowing for premium pricing, limited competition in the cardiac myosin inhibitor space, and potential market expansion as diagnosis rates improve from current 30% to an estimated 50% over 3-5 years. The company's broad pipeline could provide multiple revenue streams if additional programs succeed. Negative factors include the high cost of clinical trials and regulatory compliance, particularly the potential need for Risk Evaluation and Mitigation Strategy (REMS) programs that could limit prescribing. Manufacturing costs for complex small molecules, competition from established treatments like beta-blockers, and the challenge of educating physicians about new mechanisms of action could pressure margins. The company's substantial cash burn of nearly $400 million annually will require successful commercialization to achieve profitability.
Competitive moat
Cytokinetics possesses a moderate but potentially strengthening moat based primarily on its deep expertise in muscle biology and intellectual property portfolio. The company has developed proprietary knowledge in targeting specific muscle proteins like cardiac myosin and troponin, which represents a significant scientific and regulatory barrier for competitors. The company's strongest moat element is its first-mover advantage in cardiac myosin inhibition for HCM treatment. Aficamten, if approved, would be among the first drugs specifically designed to target the underlying mechanism of obstructive HCM rather than just managing symptoms. This provides both patent protection and the advantage of establishing treatment protocols and physician relationships. Intellectual property represents another moat component, with patents covering the specific molecular structures and therapeutic applications of its drug candidates. However, patent cliffs will eventually threaten this protection, typically 10-20 years from filing dates. The company's regulatory expertise in navigating complex FDA approval processes for novel mechanisms of action creates some competitive advantage, as does its growing clinical trial infrastructure and relationships with key opinion leaders in cardiology. However, the moat faces several vulnerabilities. Large pharmaceutical companies with greater resources could develop competing cardiac myosin inhibitors or alternative HCM treatments. Bristol Myers Squibb's mavacamten (Camzyos) already competes in the HCM space, though with different dosing and safety profiles. Generic competition will eventually emerge after patent expiration, and breakthrough treatments from other mechanisms could disrupt the entire market approach. The strength of Cytokinetics' moat will largely depend on successful commercialization of aficamten and continued pipeline development to maintain technological leadership in muscle biology therapeutics.
Risks & safety
Cytokinetics presents moderate financial risk with substantial cash reserves but significant ongoing losses and no meaningful revenue base. **Cash and Solvency:** - Cash position of approximately $1.1 billion provides roughly 2-3 years of runway at current burn rates - Free cash flow burn of $137 million in Q1 2025, with annual burn around $400 million - No significant debt burden, with current ratio of 6.0 indicating strong short-term liquidity - Total liabilities exceed total assets, reflecting accumulated losses typical for pre-revenue biotech **Valuation Metrics:** - Negative earnings make traditional P/E ratios meaningless - EV/EBITDA of -10.1x reflects negative EBITDA from R&D spending - Price-to-book ratio elevated due to minimal tangible book value - Market cap of approximately $3.9 billion appears high relative to single near-approval asset **Other Considerations:** - Binary risk profile dependent on FDA approval of aficamten in December 2025 - Substantial dilution risk if additional capital raises needed before profitability - Operating leverage potential significant if aficamten launches successfully - Pipeline diversification provides some risk mitigation beyond single asset dependence
Recent development
Over the past few years, Cytokinetics has transformed from a research-stage company to a potential commercial enterprise preparing for its first product launch. The most significant development has been the completion of SEQUOIA-HCM, the pivotal Phase III trial for aficamten in obstructive hypertrophic cardiomyopathy, which demonstrated significant efficacy improvements across multiple endpoints including peak oxygen uptake, symptom scores, and cardiac function measures. The company has aggressively expanded its clinical program with multiple ongoing trials including MAPLE-HCM (comparing aficamten monotherapy to metoprolol), ACACIA-HCM (non-obstructive HCM), and CEDAR-HCM (pediatric patients). These studies aim to expand aficamten's addressable market beyond the initial obstructive HCM indication. Regulatory progress has accelerated with FDA acceptance of the New Drug Application (NDA) for aficamten, though the agency extended the review period to December 2025 after requesting a Risk Evaluation and Mitigation Strategy (REMS) program. The company has also submitted applications in China (with priority review status) and Europe, with partnerships established for commercialization in key international markets. The company has pivoted toward commercial readiness, launching disease awareness campaigns, recruiting sales personnel, and developing patient support programs. Management has guided toward hiring up to 150 sales representatives and targeting specialty cardiologists and heart failure centers. Beyond aficamten, the company has expanded its pipeline with new programs including CK-586 for heart failure with preserved ejection fraction and CK-089 for muscular dystrophy applications, while continuing development of omecamtiv mecarbil for heart failure despite the FDA's complete response letter requiring additional trials.
CYTK company profile · for informational purposes only — not investment advice.
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