Last $7.95 USD
Change Today -0.02 / -0.25%
Volume 360.5K
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As of 8:10 PM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

cytokinetics inc (CYTK) Key Developments

Cytokinetics, Incorporated Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Revenue Guidance for the Year 2015; Expects to Initiate Phase III Clinical Development Program in the Second Quarter of 2015 and Phase II Trial of Ck-2127107 in Patients with SMA in the Second Half of 2015

Cytokinetics, Incorporated reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total revenues of USD 21,758,000 against USD 24,349,000 a year ago. Operating income was USD 8,421,000 against USD 6,432,000 a year ago. Net income was USD 8,443,000 against USD 6,531,000 a year ago. Diluted net income per share was USD 0.23 against USD 0.21 a year ago. For the year, the company reported total revenues of USD 46,940,000 against USD 30,648,000 a year ago. Operating loss was USD 14,754,000 against USD 33,894,000 a year ago. Net loss was USD 14,646,000 against USD 33,717,000 a year ago. Basic and diluted net loss per share was USD 0.41 against USD 1.24 a year ago. The company also announced its financial guidance for 2015. The company anticipates cash revenue will be in the range of USD 40 to USD 43 million. This guidance includes approximately USD 30 million in revenue which will be deferred and recognized over a two year period ending in 2016 under generally accepted accounting principles. This guidance excludes the USD 15 million milestone payment earned in 2014 from Astellas and an estimated USD 3.6 million in non-cash related operating expenses primarily related to stock compensation expense. The company expects to initiate a Phase III clinical development program for tirasemtiv in patients with ALS in the second quarter of 2015. The company expects to initiate a Phase II trial of CK-2127107 in patients with SMA in the second half of 2015. The company expects enrollment of patients in the expansion phase of COSMIC-HF to conclude in the first quarter of 2015 and results from COSMIC-HF to be available in the second half of 2015. The company also expects to continue joint development activities in collaboration with Amgen directed to the potential advancement of omecamtiv mecarbil to Phase III clinical development.

Denise M. Gilbert Not to Stand for Reelection to the Board of Directors of Cytokinetics, Incorporated

On February 9, 2015, Denise M. Gilbert, Ph.D. provided notice to Cytokinetics, Incorporated that she will not stand for re-election to the company's Board of Directors at the company's Annual Meeting of Stockholders, which will occur on May 20, 2015. Dr. Gilbert has indicated she will continue her service on the Board until the expiration of her current term.

Cytokinetics, Incorporated to Report Q4, 2014 Results on Feb 12, 2015

Cytokinetics, Incorporated announced that they will report Q4, 2014 results at 4:30 PM, US Eastern Standard Time on Feb 12, 2015

Cytokinetics, Incorporated, Q4 2014 Earnings Call, Feb 12, 2015

Cytokinetics, Incorporated, Q4 2014 Earnings Call, Feb 12, 2015

Cytokinetics, Incorporated Presents at Cowen and Company 35th Annual Healthcare Conference, Mar-03-2015 11:20 AM

Cytokinetics, Incorporated Presents at Cowen and Company 35th Annual Healthcare Conference, Mar-03-2015 11:20 AM. Venue: The Boston Marriott Copley Place, Boston, Massachusetts, United States. Speakers: Robert I. Blum, Chief Executive Officer, President, Director and Chief Executive of the Biopharmaceutical Concern.

 

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Valuation CYTK Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 6.2x
Price/Book 3.2x
Price/Cash Flow NM Not Meaningful
TEV/Sales 4.4x
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