Cytokinetics Q2 net loss widens to $1.31/share; cash rises to $1.4B on $563M offering and $250M Royalty Pharma deal

CYTOKINETICS INC

2024-Q2 EPS reported -$2.63 revenue$1,084,000

Net loss of $143.3M ($1.31/share) vs $128.6M ($1.34/share) in Q2 2023; revenue down to $0.2M from $0.9M.
Cash & investments $1.4B as of June 30, 2024, up from $634.3M at March 31, aided by $563.2M public offering and $250M upfront from Royalty Pharma.
Rolling NDA for aficamten underway; Type B meeting with FDA held on risk mitigation; submission on track for Q3 2024.
FDA cleared FOREST-HCM protocol amendment reducing echo monitoring frequency for obstructive HCM patients.
Updated 2024 GAAP OpEx guidance raised to $555M-$575M (prev $535M-$555M); net cash use unchanged at $400M-$420M.

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