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Dec 31, 2021
Cytokinetics Q4 2021 Earnings Report
Cytokinetics reported a net loss and increased revenue due to license revenue from Ji Xing.
Key Takeaways
Cytokinetics reported a net loss of $30.6 million for Q4 2021, with revenues increasing to $55.6 million compared to $6.7 million in the same period of 2020, primarily driven by license revenue from Ji Xing. The company's cash balance reached $623.7 million at the end of the year, and they anticipate revenue between $20 to $25 million for 2022.
Net loss for Q4 2021 was $30.6 million, or $0.36 per share.
Revenues for Q4 2021 increased to $55.6 million, up from $6.7 million in Q4 2020.
Cash, cash equivalents, and investments totaled $623.7 million as of December 31, 2021.
The company anticipates revenue between $20 to $25 million for 2022.
Forward Guidance
Cytokinetics provided financial guidance for 2022, anticipating revenue between $20 to $25 million, operating expenses in the range of $380 to $400 million, and net cash utilization of approximately $365 to $385 million.
Positive Outlook
- Revenue expected to be between $20 to $25 million.
- Cash balance of $724 million, providing more than two years of runway.
- Committed capital expected upon dosing of the first patient in SEQUOIA-HCM.
- Focus on expanding the development program for aficamten.
- Advancing the pipeline of early drug candidates.
Challenges Ahead
- Operating expenses expected to be in the range of $380 to $400 million.
- Net cash utilization expected to be approximately $365 to $385 million.
- Potential difficulties or delays in development and regulatory approvals.
- Patient enrollment for clinical trials may be difficult or delayed.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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