Cytokinetics secures $200M immediate funding from Royalty Pharma; restructures aficamten royalty

CYTOKINETICS INC

Received $50M upfront from Tranche 6 term loan and $100M from 2024 DFA; plus $50M from CK-586 RPA; total $200M immediate cash.
Aficamten royalty restructured: RPI gets 4.5% up to $5B net sales (was $1B), then 1% above $5B (was 3.5%).
Optional $175M Tranche 7 term loan if FDA approves aficamten for HCM by Dec 31, 2025; repayment at 190% of principal.
CK-586 RPA provides up to $200M total; RPI funds 50% of R&D costs after Phase 3 start; receives 1-4.5% royalty plus milestone payments.
Stock Purchase Agreement allows Cytokinetics to require RPI to buy $50M shares in next equity financing (min $250M gross) by Aug 20, 2024.

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