Cytokinetics Secures EU Approval for Myqorzo and Q4 Revenue Plunges 77%
Cytokinetics secured European Union approval for Myqorzo to treat symptomatic obstructive hypertrophic cardiomyopathy across major markets. The company expects a Q4 loss of $1.48 per share on $3.89 million revenue, down 77%, with consensus EPS revised 1.2% lower and an Earnings ESP of -0.95%.
1. EU Approval for Myqorzo
Cytokinetics received approval from the European Commission to market Myqorzo for symptomatic obstructive hypertrophic cardiomyopathy across all member states, marking the company’s first commercial launch in the EU and expanding its global reach.
2. Q4 Financial Outlook and Analyst Revisions
Analysts forecast a Q4 loss of $1.48 per share on $3.89 million revenue, down 77% year-over-year. Consensus EPS has been revised 1.2% downward over the last month, resulting in an Earnings ESP of -0.95% and a Zacks Rank of #3, making an upside surprise less likely.