Cytokinetics Q1 Revenue Surges to $19.4M, ACACIA-HCM Trial Hits Endpoints
Cytokinetics posted Q1 sales of $19.4M versus analysts’ $7.1M forecast and a net loss of $1.67 per share in line with expectations, driven in part by a $4.8M initial MYQORZO launch. The Phase 3 ACACIA-HCM trial met co-primary endpoints, expanding potential oHCM market and leaving $1.1B cash.
1. Q1 Financial Results
Cytokinetics reported a net loss of $206 million, or $1.67 per share. Total revenues were $19.4 million, including $4.8 million of net product revenue and $2.6 million of collaboration revenue, surpassing the $7.1 million consensus estimate.
2. Commercial Launch of MYQORZO
The U.S. launch began January 27, 2026, delivering $4.8 million in initial net sales over nine weeks. As of March 31, over 1,400 HCPs REMS certified, 275 prescribers wrote approximately 680 prescriptions, and 70% of patients remained on paid therapy, while European approval prepares for a Germany launch.
3. ACACIA-HCM Trial Success
Phase 3 ACACIA-HCM met co-primary endpoints with an 11.4-point KCCQ improvement versus 8.4 for placebo (p=0.021) and a 0.64 mL/kg/min peak VO2 gain versus –0.03 for placebo (p=0.003). Key secondary measures and NT-proBNP also improved, though 10% of aficamten patients experienced LVEF below 50%.
4. Cash Position and Proposed Offering
Cash, cash equivalents and investments totaled $1.1 billion at quarter end, down $144 million from December 31. The company filed to raise $650 million in common stock, plus a 30-day 15% overallotment option, subject to market conditions.