Cytokinetics rises as investors await US approval for heart drug

Shares of drug developer Cytokinetics CYTK.O rise ~3% to $36.24 premarket

Co reported Q2 revenue of $66.8 million , compared with $0.2 million a year ago, helped by $52.4 million payment related to co's licensing deal for experimental heart disease drug, aficamten, in Japan with Germany's Bayer BAYGn.DE

Co says it is on track for meeting with U.S. FDA in September ahead of potential U.S. approval of aficamten to treat obstructive hypertrophic cardiomyopathy (oCHM)

There is "truly palpable excitement and anticipation" for launch of aficamten in early 2026 following potential FDA approval by December 26, H.C.Wainwright analysts say

oCHM is a condition that makes heart muscles stiff and can cause cardiac arrest

As of June 30, co had ~$1.0 billion in cash, cash equivalents and investments, CYTK says

Up to last close, stock down 25% YTD