Cytokinetics, Inc. (NASDAQ: CYTK) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “Well, we are now well into April (yay for spring!), and if you’re not aware, April 2021 is the designated month listed in the primary completion field on clinicaltrials.gov for CYTK’s CK-274 Ph2 REDWOOD-HCM trial. This is going to be an important readout for CYTK and data is expected “mid-2021,” per CYTK (note: we think May, unless CYTK clarifies with more granularity). Recall, the elevator pitch for CYTK is MYOK’s mavacamten was sold to BMY for ~$13Bn. CYTK’s CK-274 works via the same mechanism, myosin inhibition, and only trades at ~$1.5Bn cap, so either these two drugs are really all that different or we’re seeing a case of value dislocation in the market. Overall, we believe risk/reward is skewed up going into the data readout. To help you prep ahead of the readout, we’ve put everything we believe you need below.”
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About Cytokinetics, Inc.
Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact muscle function and contractility. Cytokinetics is conducting regulatory interactions for omecamtiv mecarbil , its novel cardiac muscle activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure. Cytokinetics is conducting METEORIC-HF, a second Phase 3 clinical trial of omecamtiv mecarbil . Cytokinetics is also developing CK-274, a next-generation cardiac myosin inhibitor, for the potential treatment of hypertrophic cardiomyopathies (“HCM”). Cytokinetics is conducting REDWOOD-HCM, a Phase 2 clinical trial of CK-274 in patients with obstructive HCM. Cytokinetics is also developing reldesemtiv , a fast skeletal muscle troponin activator for the potential treatment of ALS and other neuromuscular indications following conduct of FORTITUDE-ALS and other Phase 2 clinical trials. The company is preparing for the potential advancement of reldesemtiv to a Phase 3 clinical trial in ALS. Cytokinetics continues its over 20-year history of pioneering innovation in muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness. For additional information about Cytokinetics, visit www.cytokinetics.com.
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