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Jun 30, 2020
Cytokinetics Q2 2020 Earnings Report
Reported financial results for the second quarter of 2020.
Key Takeaways
Cytokinetics reported a net loss of $40.8 million, or $0.68 per share, for the second quarter of 2020. The company's cash, cash equivalents, and investments totaled $213.1 million at June 30, 2020. They expect to end the year with over $500 million in cash.
Top-line results from GALACTIC-HF are expected in Q4 2020.
Licensing collaboration, royalty monetizations, and financing provide additional capital to support commercial development and pipeline expansion.
Company expects to end 2020 with more than $500 million cash.
Screening and enrollment resumed in METEORIC-HF and REDWOOD-HCM trials during June.
Forward Guidance
Cytokinetics provided financial guidance for 2020, anticipating cash revenue between $18 to $22 million and operating expenses between $120 to $130 million. Net cash utilization is expected to range from $110 to $115 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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