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Sep 30, 2023
Cytokinetics Q3 2023 Earnings Report
Net loss reported at $129.4 million, or $1.35 per share, compared to a net loss of $142.3 million, or $1.52 per share for the third quarter of 2022.
Key Takeaways
Cytokinetics reported its Q3 2023 financial results, highlighting progress in its specialty cardiology franchise, particularly with aficamten. The company is on track for topline results from the SEQUOIA-HCM trial in late December and has initiated enrollment in the ACACIA-HCM trial. The company's cash, cash equivalents and investments totaled $554.7 million on September 30, 2023.
Made considerable progress across the specialty cardiology franchise, with aficamten remaining the top priority.
Baseline characteristics of patients enrolled in SEQUOIA-HCM met objectives for the trial.
Longer-term data from FOREST-HCM demonstrate durable reductions in pressure gradients and cardiac biomarkers and improved symptoms in patients with obstructive HCM.
Initiated ACACIA-HCM, a pivotal Phase 3 clinical trial of aficamten in patients with non-obstructive HCM.
Cytokinetics
Cytokinetics
Forward Guidance
Cytokinetics expects topline results from SEQUOIA-HCM in late December, will continue enrollment of MAPLE-HCM and ACACIA-HCM, continue advancing go-to-market strategy for aficamten, continue to pursue potential approval for omecamtiv mecarbil in Europe, analyze SAD data from the Phase 1 study of CK-136 to inform potentially proceeding with the MAD cohorts in the Phase 1 study, and proceed to the MAD cohorts in the Phase 1 study of CK-586.
Positive Outlook
- Expect topline results from SEQUOIA-HCM in late December.
- Continue enrollment of MAPLE-HCM.
- Continue enrollment of ACACIA-HCM.
- Continue advancing go-to-market strategy for aficamten.
- Continue to pursue potential approval for omecamtiv mecarbil in Europe.