Cytokinetics Q4 2023 Earnings Report
Key Takeaways
Cytokinetics reported a net loss of $136.9 million for Q4 2023. The company is preparing regulatory submissions for aficamten and advancing its clinical trials. They ended the year with $655.4 million in cash, cash equivalents and investments.
Topline results from SEQUOIA-HCM showed statistically significant and clinically meaningful improvements.
The company plans to submit a New Drug Application for aficamten to the FDA in Q3 2024 and a Marketing Authorization Application to the EMA in Q4 2024.
Primary results from SEQUOIA-HCM are expected to be presented at an upcoming medical conference in Q2 2024.
Cytokinetics provided 2024 financial guidance, indicating approximately 2 years of cash runway.
Cytokinetics
Cytokinetics
Forward Guidance
Cytokinetics provided financial guidance for 2024, expecting revenue between $3 to $5 million, operating expenses between $420 to $450 million, and net cash utilization of approximately $390 to $420 million.