CYTOKINETICS INC
For the period ended Mar 31, 2025. Filed May 6, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 6, 2025
CYTK$55.14+2.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Glossary of Terms
Unless the context requires otherwise, references to “Cytokinetics,” “the Company,” “we,” “us” or “our” in this Quarterly Report on Form 10-Q refer to Cytokinetics, Incorporated and its subsidiaries. References to “Notes” in this Form 10-Q are to the Notes to the Condensed Consolidated Financial Statements in this Form 10-Q. We also have used other specific terms in this Form 10-Q, most of which are explained or defined below:
| Term/Abbreviation | Definition |
|---|---|
| 2004 Plan | Cytokinetics’ Amended and Restated 2004 Equity Incentive Plan |
| 2020 RTW Transactions | The transactions contemplated by the RTW Royalty Purchase Agreement, Corxel Aficamten License Agreement and the Common Stock Purchase Agreements, dated July 14, 2020, by and between Cytokinetics and the RTW Investors |
| 2021 RTW Transactions | The transactions contemplated by the Corxel OM License Agreement and the Common Stock Purchase Agreements, dated December 20, 2021 by and between Cytokinetics and the RTW Investors |
| 2022 RPI Transactions | The transactions contemplated by the RP Multi Tranche Loan Agreement and the RP Aficamten RPA |
| 2024 RPI Transactions | The transactions contemplated by the 2024 RP OM Loan Agreement, the RP CK-586 RPA, the RP Stock Purchase Agreement, the 2022 RP Multi Tranche Loan Agreement Amendment and the RP Aficamten RPA Amendment |
| 2026 Notes | Cytokinetics’ 4% convertible senior notes due 2026 |
| 2027 Indenture | Indenture Agreement, dated July 6, 2022, between Cytokinetics and U.S. Bank Trust Company, as trustee |
| 2027 Notes | Cytokinetics’ 3.50% convertible senior notes due 2027 |
| ACA | Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act |
| ACACIA-HCM | Assessment Comparing Aficamten to Placebo on Cardiac Endpoints In Adults with Non-Obstructive HCM |
| AMBER-HFpEF | our Phase 2 randomized, placebo-controlled, double-blind, multi-center, dose-finding clinical trial in patients with symptomatic HFpEF with left ventricular ejection fraction ≥ 60% |
| Amended ATM Facility | our amended and restated Controlled Equity Offering Sales Agreement |
| ARR | absolute risk reductions |
| Astellas Agreement | License and Collaboration Agreement, dated June 21, 2013, between Cytokinetics and Astellas |
| Astellas FSRA Agreement | Fast Skeletal Regulatory Activator Agreement, dated April 23, 2020 between Cytokinetics and Astellas |
| Bayer | means Bayer AG and/or any affiliate thereof, including Bayer Consumer Care AG |
| Bayer License Agreement | means that certain License and Collaboration Agreement, dated November 18, 2024 by and between the Company and Bayer Consumer Care AG, pursuant to which Bayer acquired an exclusive license to develop and commercialize aficamten in Japan, subject to certain reserved development rights. |
| Cantor | Cantor Fitzgerald & Co. |
| CEDAR-HCM | our clinical trial of aficamten in a pediatric population with oHCM |
| cGCP | current Good Clinical Practice |
| cGLP | current Good Laboratory Practice |
| cGMP | current Good Manufacturing Practice |
| China | People's Republic of China (including the Hong Kong and Macau SARs) |
| CMC | Chemistry, Manufacturing and Controls |
| CMO | Contract Manufacturing Organizations |
| COMET-HF | our Phase 3 multi-center, double-blind, randomized, placebo-controlled trial to assess the efficacy and safety of omecamtiv mecarbil in patients with symptomatic HFrEF with severely reduced ejection fraction |
| Common Stock | our common stock, par value $0.001 per share |
|---|---|
| Compensation Committee | Compensation and Talent Committee of Cytokinetics’ Board of Directors |
| Convertible Notes | 2026 Notes and 2027 Notes |
| Corxel | Corxel Pharmaceuticals Limited (formerly known as Ji Xing Pharmaceuticals Limited) and/or its affiliates, including Corxel Pharmaceuticals Hong Kong Limited |
| Corxel Agreements | Corxel Aficamten License Agreement and Corxel OM License Agreement |
| Corxel OM License Agreement | means that certain Collaboration and License Agreement, dated December 20, 2021, by and between the Company and Corxel, pursuant to which we granted Corxel an exclusive license to develop and commercialize omecamtiv mecarbil in China and Taiwan |
| COURAGE-ALS | Clinical Outcomes Using Reldesemtiv on ALSFRS-R in a Global Evaluation in ALS |
| CPET | cardiopulmonary exercise testing |
| CRO | Contract Research Organization |
| CV | cardiovascular |
| E.U. or EU | European Union |
| EEA | European Economic Area |
| EMA | European Medicines Agency |
| ESPP | employee stock purchase plan |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FDA | U.S. Food and Drug Administration |
| Final Payment Amount | As defined in Part I, Item 2 (Management’s Discussion and Analysis of Financial Conditions and Results of Operations) of this Quarterly Report on Form 10-Q – Sources and Uses of Cash, Royalty Pharma Transactions |
| FOREST-HCM | Five-Year, Open-Label, Research Evaluation of Sustained Treatment with Aficamten in HCM |
| FSTA | fast skeletal muscle troponin activator |
| Fundamental Change | As defined in the 2027 Indenture |
| GAAP | Generally Accepted Accounting Principles in the U.S. |
| GALACTIC-HF | Global Approach to Lowering Adverse Cardiac Outcomes Through Improving Contractility in Heart Failure |
| GDPR | General Data Protection Regulation ((EU) 2016/679) |
| HCM | hypertrophic cardiomyopathy |
| HFpEF | heart failure with preserved ejection fraction |
| HFrEF | heart failure with reduced ejection fraction |
| HHS | U.S. Department of Health and Human Services |
| HIPAA | The federal Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and Clinical Health Act |
| ICER | Institute for Clinical and Economic Review |
| IND | Investigational New Drug |
| IRA | Inflation Reduction Act of 2022 |
| IRB | Institutional Review Board |
| KCCQ | Kansas City Cardiomyopathy Questionnaire |
| KCCQ-OSS | KCCQ Overall Summary Score |
| LVEF | left ventricular ejection fraction |
| LVOT | left ventricular outflow tract |
| LVOT-G | left ventricular outflow tract gradient |
| MAA | Marketing Authorization Application |
|---|---|
| MAPLE-HCM | Metoprolol vs Aficamten in Patients with LVOT Obstruction on Exercise Endpoints Capacity in HCM |
| Mavacamten Royalty | certain payments on the net sales of products containing the compound mavacamten pursuant to the Research Collaboration Agreement, dated August 24, 2012, between Cytokinetics and MyoKardia, Inc. |
| NDA | New Drug Application |
| nHCM | non-obstructive HCM |
| NOLs | net operating loss carryforward |
| NYHA | New York Heart Association |
| oHCM | obstructive HCM |
| Ownership Change | As defined in Part II, Item 1A (Risk Factors) of this Quarterly Report on Form 10-Q, General Risks |
| Oyster Point Lease | Lease, dated July 24, 2019, by and between Cytokinetics and KR Oyster Point 1, LLC, as amended |
| Partial Redemption Limitation | As defined in the 2027 Indenture |
| PSU | Performance Stock Unit |
| Radnor Lease | As defined in Part I, Item 1 (Financial Statements (Unaudited)), Notes to Condensed Consolidated Financial Statements of this Quarterly Report on Form 10-Q - Note 9 (Commitments and Contingencies) – Operating Leases |
| REMS | Risk Evaluation and Mitigation Strategy |
| RP Aficamten RPA | Revenue Participation Right Purchase Agreement, dated January 7, 2022, by and between Cytokinetics and Royalty Pharma Investments 2019 ICAV |
| RP Aficamten RPA Amendment | Amendment No. 1, dated May 22, 2024, to Revenue Participation Right Purchase Agreement, dated January 7, 2022, by and between Cytokinetics and Royalty Pharma Investments 2019 ICAV |
| RP CK-586 RPA | CK-586 Revenue Participation Right Purchase Agreement, dated May 22, 2024, by and between Cytokinetics and Royalty Pharma Investments 2019 ICAV |
| RP Multi Tranche Loan Agreement | Development Funding Loan Agreement, dated January 7, 2022, by and among Royalty Pharma Development Funding, LLC and Cytokinetics |
| RP Multi Tranche Loan Agreement Amendment | Third Amendment, dated May 22, 2024, to Development Funding Loan Agreement, dated January 7, 2022, by and among Royalty Pharma Development Funding, LLC and Cytokinetics |
| RP OM Liability | As defined in Part I, Item 1 (Financial Statements (Unaudited)), Notes to Condensed Consolidated Financial Statements of this Quarterly Report on Form 10-Q - Note 3 (Agreements with Royalty Pharma) – 2017 RP Omecamtiv Mecarbil Royalty Purchase Agreement |
| RP OM Loan Agreement | 2024 Development Funding Loan Agreement, dated May 22, 2024, by and among Royalty Pharma Development Funding, LLC and Cytokinetics |
| RP OM RPA | Royalty Purchase Agreement, dated February 1, 2017, by and between the Cytokinetics and RPI Finance Trust, as amended by Amendment No. 1, dated January 7, 2022 |
| RP Stock Purchase Agreement | Common Stock Option and Purchase Agreement, dated May 22, 2024, by and between Cytokinetics and Royalty Pharma Investments 2019 ICAV |
| RPDF | Royalty Pharma Development Funding, LLC |
| RPFT | RPI Finance Trust |
| RPI ICAV | Royalty Pharma Investments 2019 ICAV |
| RSU | Restricted Stock Unit |
| RTW ICAV | RTW Investments ICAV for RTW Fund 1 |
| RTW Investors | RTW Master Fund, Ltd., RTW Innovation Master Fund, Ltd. and RTW Venture Fund Limited |
|---|---|
| RTW Royalty Holdings | RTW Royalty Holdings Designated Activity Company |
| RTW Royalty Purchase Agreement | Royalty Purchase Agreement, dated July 14, 2020, between Cytokinetics and RTW Royalty Holdings |
| Sanofi | means Sanofi S.A. and/or any affiliates thereof, including Genzyme Corporation |
| Sanofi License Agreement | means that certain License and Collaboration Agreement, dated July 14, 2020 by and between the Company and Sanofi (as assignee of Corxel), pursuant to which Sanofi has an exclusive license to develop and commercialize aficamten in China and Taiwan |
| Section 382 | Section 382 of the Internal Revenue Code |
| Securities Act | Securities Act of 1933, as amended |
| SEQUOIA-HCM | Safety, Efficacy, and Quantitative Understanding of Obstruction Impact of Aficamten in HCM |
| SGLT2 | sodium-glucose cotransporter-2 |
| Tax Act | Tax Cuts and Jobs Act |
| U.S. or US | United States of America |
This Form 10-Q includes discussion of certain clinical studies relating to various in-line products and/or product candidates. These studies typically are part of a larger body of clinical data relating to such products or product candidates, and the discussion herein should be considered in the context of the larger body of data. In addition, clinical trial data are subject to differing interpretations, and, even when we view data as sufficient to support the safety and/or effectiveness of a product candidate or a new indication for an in-line product, regulatory authorities may not share our views and may require additional data or may deny approval altogether.
CYTOKINETICS and our C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries. Other service marks, trademarks and trade names referred to in this report are the property of their respective owners.
The information contained on our website, our Facebook, Instagram, YouTube and LinkedIn pages or our Twitter accounts, or any third-party website, is not incorporated by reference into this Form 10-Q.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.