Cytokinetics amends Royalty Pharma loan, extends draw deadlines to Mar 31, 2023

CYTOKINETICS INC

Amendment extends deadline for Tranche 2 and Tranche 3 Term Loans from Dec 31, 2022 to Mar 31, 2023.
Repayment amount for those tranches increased from 190% to 200% of principal as consideration.
Original Loan Agreement provided up to $300M for omecamtiv mecarbil, aficamten, and working capital.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CYTOKINETICS INC amended Second Amendment to Development Funding Loan Agreement with Royalty Pharma Development Funding, LLC (effective 2022-12-08).

Action: amendment
Agreement: credit facility
Counterparty: Royalty Pharma Development Funding, LLC
Effective: 2022-12-08

Exact text from the filing

The Amendment extends the deadline dates, from December 31, 2022, to March 31, 2023, for which each of the respective conditions of the Tranche 2 Term Loans and Tranche 3 Term Loans must occur in order for Cytokinetics to be able to draw on these loans.

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Source: SEC EDGAR

accession 0000950170-22-026227

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