A Business at a Glance
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CYTOKINETICS INC
CYTK
$9.7B
Mkt Cap
$80.74
-1.44%
CYTOKINETICS INC (CYTK) has a 5-year average return on invested capital (ROIC) of -52.4%. This is below average and may indicate limited pricing power.
CYTOKINETICS INC (CYTK) has a market capitalization of $10M. It is classified as a small-cap stock.
CYTOKINETICS INC (CYTK) does not currently pay a regular dividend.
CYTOKINETICS INC (CYTK) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
CYTOKINETICS INC (CYTK) generated $-535 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
CYTOKINETICS INC (CYTK) reported earnings per share (EPS) of $-6.54 in its most recent fiscal year.
CYTOKINETICS INC (CYTK) has a return on equity (ROE) of 197.5%. This indicates the company generates strong returns for shareholders.
Cytokinetics is a specialty biopharmaceutical company focused on discovering, developing, and commercializing small molecule drugs engineered to modulate muscle function and contractility for the treatment of cardiovascular and neuromuscular diseases. The company's first commercial product, MYQORZO (aficamten), is an allosteric and reversible inhibitor of cardiac myosin motor activity approved by the FDA in December 2025 for symptomatic obstructive hypertrophic cardiomyopathy (oHCM), with subsequent approvals in the European Union in February 2026 and China in December 2025. MYQORZO became available for patient prescription in late January 2026 and is distributed through a limited, targeted model focused on high-volume prescribers at disease-specific centers of excellence, with a risk evaluation and mitigation strategy (REMS) program to manage safety risks. Behind MYQORZO, Cytokinetics is advancing a pipeline of investigational muscle-directed therapies at discovery, preclinical, and clinical stages, including aficamten for non-obstructive HCM (nHCM), omecamtiv mecarbil for heart failure with severely reduced ejection fraction, ulacamten for heart failure with preserved ejection fraction, and CK-089 for muscular dystrophy. The company's competitive differentiation stems from its deep expertise in muscle biology and the cytoskeleton, positioning it to develop novel therapeutics targeting severe cardiovascular and neuromuscular conditions with significant unmet medical needs across North America, Europe, and Asia.
【Commercial momentum building globally】 Management expects MYQORZO to achieve broad geographic access and rapid adoption across concentrated customer segments in North America and Europe, with the company targeting over 50% new-to-brand prescription share among high-volume prescribers by year-end 2026 and expanding to broader prescriber bases thereafter. The company anticipates achieving Medicare parity access by Q2 2026 and commercial parity by Q4 2026, with planned launches in Germany in Q2 2026 and expansion across additional European geographies through 2026 and 2027 following health technology assessment submissions. Positive top-line results from the ACACIA-HCM Phase 3 trial in non-obstructive HCM, expected in Q2 2026, are anticipated to support a supplemental NDA submission to the FDA with potential approval by Q4 2026, which management believes could expand category penetration and patient benefit through an expanded label. The company remains focused on disciplined capital allocation and advancing its clinical pipeline, including continued enrollment in COMET-HF for omecamtiv mecarbil through 2026 and completion of enrollment in AMBER-HFpEF cohorts by end of 2026, while maintaining operating expense discipline with combined R&D and SG&A guidance of $830–$870 million for 2026.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 106M | - | - | - | - | - |
| Net Income | -830M | -785M | -590M | -526M | -389M | -215M |
| EPS | $-6,890.74 | $-6.54 | $-5.26 | $-5.45 | $-4.33 | $-2.80 |
| Free Cash Flow | -549M | -535M | -400M | -416M | -311M | -191M |
| ROIC | -39.7% | -43.0% | -38.3% | -60.2% | -25.2% | -95.5% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | -0.63 | -1.75 | -0.54 | -1.90 | 0.72 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -640M | -612M | -536M | -496M | -324M | -186M |
| Operating Margin | -605.1% | - | - | - | - | - |
| ROE | 0.0% | 197.5% | 226.0% | 213.0% | - | -120.5% |
| Shares Outstanding | 0M | 120M | 112M | 97M | 90M | 77M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 47M | 29M | 106M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 106M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 44M | 46M | 60M | 90M | 89M | 86M | 97M | 160M | 241M | 330M | 339M | 416M | 412M |
| SG&A | 17M | 20M | 28M | 36M | 31M | 40M | 53M | 97M | 178M | 174M | 215M | 284M | 332M |
| EBIT | -15M | -37M | 19M | -113M | -89M | -99M | -94M | -186M | -324M | -496M | -536M | -612M | -640M |
| Op. Margin | -31.4% | -130.5% | 17.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -605.1% |
| Net Income | -15M | -38M | 16M | -128M | -106M | -122M | -127M | -215M | -389M | -526M | -590M | -785M | -830M |
| Net Margin | -31.2% | -130.9% | 15.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -784.0% |
| Non-Recurring | 0 | 18K | 18K | 67K | 0 | 0 | 573K | 0 | -107K | -35K | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -20.0% | -42.8% | 22.9% | -97.0% | -102.5% | -27.0% | -131.4% | -95.5% | -25.2% | -60.2% | -38.3% | -43.0% | -39.7% |
| ROE | -20.0% | -46.7% | 20.2% | -125.2% | -156.6% | N/A | -248.5% | -120.5% | N/A | 213.0% | 226.0% | 197.5% | 0.0% |
| ROA | -13.6% | -30.2% | 11.5% | -55.0% | -42.0% | -48.6% | -30.9% | -31.3% | -41.9% | -57.2% | -53.0% | -55.5% | -65.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -45M | 4.9M | 37M | -102M | -101M | -91M | 8.9M | -143M | -300M | -414M | -396M | -510M | -524M |
| Free Cash Flow | -46M | 4.3M | 35M | -105M | -102M | -94M | -2.1M | -191M | -311M | -416M | -400M | -535M | -549M |
| Owner Earnings | -49M | -273K | 29M | -113M | -112M | -103M | -11M | -172M | -353M | -498M | -503M | -632M | -654M |
| CapEx | 1.1M | 562K | 1.6M | 2.9M | 889K | 2.6M | 11M | 49M | 11M | 1.4M | 3.9M | 25M | 25M |
| Maint. CapEx | 490K | 589K | 741K | 1.9M | 1.2M | 1.3M | 1.8M | 2.3M | 5.8M | 12M | 9.5M | 10M | 11M |
| Growth CapEx | 614K | 0 | 855K | 957K | 0 | 1.3M | 9.2M | 47M | 5.5M | 0 | 0 | 15M | 14M |
| D&A | 490K | 589K | 741K | 1.9M | 1.2M | 1.3M | 1.8M | 2.3M | 5.8M | 12M | 9.5M | 10M | 11M |
| CapEx/OCF | N/A | 11.5% | 4.3% | N/A | N/A | N/A | 123.6% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 3.3M | 4.6M | 7.1M | 9.0M | 9.8M | 11M | 18M | 27M | 48M | 72M | 98M | 112M | 119M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 48M | 0 | 8.7M | 11M | 11M |
| Balance Sheet | |||||||||||||
| Net Debt | -103M | -162M | -201M | -379M | -198M | -252M | -535M | -562M | -690M | -562M | -1.1B | -908M | -938M |
| Cash & Equiv. | 20M | 65M | 67M | 125M | 42M | 36M | 83M | 113M | 66M | 113M | 95M | 123M | 1.2B |
| Long-Term Debt | 0 | 15M | 27M | 32M | 40M | 45M | 46M | 47M | 64M | 58M | 93M | 246M | 247M |
| Debt/Equity | 0.00 | 0.21 | 0.32 | 0.29 | 1.67 | -4.74 | 0.44 | 0.72 | -1.90 | -0.54 | -1.75 | -0.63 | 0.00 |
| Interest Coverage | N/A | -139.6 | 6.9 | -37.6 | -23.4 | -14.9 | -5.9 | -11.3 | -16.7 | -17.5 | -14.2 | -13.4 | -13.4 |
| Equity | 92M | 69M | 94M | 110M | 26M | -11M | 113M | 244M | -108M | -386M | -135M | -660M | -827M |
| Total Assets | 133M | 115M | 170M | 295M | 211M | 290M | 534M | 841M | 1.0B | 824M | 1.4B | 1.4B | 1.3B |
| Total Liabilities | 41M | 47M | 76M | 185M | 185M | 301M | 420M | 597M | 1.1B | 1.2B | 1.5B | 2.1B | 2.1B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -497M | -535M | -518M | -646M | -743M | -865M | -992M | -1.2B | -1.6B | -2.1B | -2.7B | -3.5B | -3.7B |
| Working Capital | 107M | 81M | 125M | 242M | 185M | 208M | 443M | 464M | 711M | 525M | 928M | 715M | 640M |
| Current Assets | 131M | 113M | 159M | 274M | 208M | 234M | 474M | 536M | 795M | 628M | 1.1B | 917M | 839M |
| Current Liabilities | 24M | 32M | 33M | 32M | 22M | 26M | 31M | 72M | 85M | 103M | 180M | 202M | 199M |
| Per Share Data | |||||||||||||
| EPS | -0.41 | -0.97 | 0.39 | -2.59 | -1.95 | -2.11 | -1.97 | -2.80 | -4.33 | -5.45 | -5.26 | -6.54 | -6,890.74 |
| Owner EPS | -1.36 | -0.01 | 0.69 | -2.28 | -2.06 | -1.79 | -0.16 | -2.23 | -3.93 | -5.16 | -4.49 | -5.27 | -5,306.78 |
| Book Value | 2.58 | 1.77 | 2.24 | 2.23 | 0.48 | -0.19 | 1.75 | 3.17 | -1.20 | -4.00 | -1.21 | -5.50 | -6,705.18 |
| Cash Flow/Share | -1.26 | 0.13 | 0.88 | -2.06 | -1.86 | -1.58 | 0.14 | -1.85 | -3.33 | -4.29 | -3.53 | -4.25 | -6,638.98 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 35.7M | 38.7M | 42.2M | 49.3M | 54.5M | 57.7M | 64.6M | 76.9M | 89.8M | 96.6M | 112.1M | 120.0M | 0.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 31.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -0.0 |
| P/FCF | N/A | 92.7 | 14.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 21.3 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 2.4 | 5.8 | 5.5 | 3.8 | 12.9 | N/A | 11.9 | 14.4 | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 4.5 | 10.3 | 3.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1 |
| FCF Yield | -20.9% | 1.1% | 6.8% | -24.9% | -30.6% | -15.8% | -0.2% | -5.5% | -7.6% | -5.2% | -7.5% | -7.1% | -5515.1% |
| Market Cap | 219M | 401M | 521M | 419M | 334M | 593M | 1.4B | 3.5B | 4.1B | 8.0B | 5.3B | 7.6B | 10.0M |
| Avg. Price | 5.86 | 7.63 | 9.15 | 12.67 | 8.07 | 9.95 | 18.25 | 27.99 | 41.81 | 36.73 | 61.36 | 45.94 | 80.74 |
| Year-End Price | 6.14 | 10.36 | 12.35 | 8.50 | 6.12 | 10.29 | 20.95 | 45.54 | 45.60 | 83.24 | 47.36 | 63.11 | 80.74 |
CYTOKINETICS INC passes 2 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is +22.8%.
The Ledger Terminal provides 16 years of financial data for CYTOKINETICS INC (CYTK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CYTOKINETICS INC (CYTK) has a book value per share of $-5.50, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects MYQORZO to achieve broad geographic access and rapid adoption across concentrated customer segments in North America and Europe, with the company targeting over 50% new-to-brand prescription share among high-volume prescribers by year-end 2026 and expanding to broader prescriber bases thereafter. The company anticipates achieving Medicare parity access by Q2 2026 and commercial parity by Q4 2026, with planned launches in Germany in Q2 2026 and expansion across additional European geographies through 2026 and 2027 following health technology assessment submissions. Positive top-line results from the ACACIA-HCM Phase 3 trial in non-obstructive HCM, expected in Q2 2026, are anticipated to support a supplemental NDA submission to the FDA with potential approval by Q4 2026, which management believes could expand category penetration and patient benefit through an expanded label. The company remains focused on disciplined capital allocation and advancing its clinical pipeline, including continued enrollment in COMET-HF for omecamtiv mecarbil through 2026 and completion of enrollment in AMBER-HFpEF cohorts by end of 2026, while maintaining operating expense discipline with combined R&D and SG&A guidance of $830–$870 million for 2026.