Cytokinetics Q4 2020 Earnings Report
Key Takeaways
Cytokinetics reported a net loss of $43.9 million for the fourth quarter of 2020, with revenues of $6.7 million. The company's cash, cash equivalents, and investments totaled $501.0 million at the end of the year, providing more than two years of cash runway.
Presented results of GALACTIC-HF, demonstrating a positive effect on the primary composite endpoint.
Planned to discuss GALACTIC-HF results with the FDA to inform a potential registration path.
Progressed REDWOOD-HCM to Cohort 2 after a positive interim analysis and completed enrollment.
Provided 2021 financial guidance, anticipating revenue between $23 to $28 million.
Cytokinetics
Cytokinetics
Forward Guidance
The company anticipates revenue will be in the range of $23 to $28 million, operating expenses will be in the range of $195 to $205 million, and net cash utilization will be approximately $160 to 170 million.