Cytokinetics Prices 9.86M Shares at $71, Raising $700M
Cytokinetics priced an upsized offering of 9.86M shares at $71 each, aiming to raise $700M in gross proceeds, with a 30-day option for 1.48M additional shares. The offering, expected to close May 8, will fund development of its approved MYQORZO and pipeline assets.
1. Offering Details
Cytokinetics has issued 9,859,155 shares of common stock at $71 per share, generating approximately $700 million in gross proceeds, and granted underwriters a 30-day option to purchase up to 1,478,873 additional shares at the same price.
2. Timeline and Management
The public offering is scheduled to close on May 8, 2026, subject to customary closing conditions, with Morgan Stanley, Goldman Sachs, J.P. Morgan and Jefferies acting as joint book-running managers alongside Mizuho, Citizens Capital Markets, Needham, B. Riley Securities and H.C. Wainwright as co-managers.
3. Use of Proceeds
Net proceeds from the offering are intended to support further commercialization and development of MYQORZO® (aficamten) for obstructive hypertrophic cardiomyopathy and advance clinical programs for omecamtiv mecarbil and ulacamten in heart failure indications.