Cytokinetics, Incorporated, a leading biopharmaceutical company focused on developing muscle activators and inhibitors as potential treatments for debilitating diseases, has announced the pricing of its underwritten public offering. The company is offering 9,803,922 shares of its common stock to the public at a price of $51.00 per share, before underwriting discounts and commissions.
The proceeds from this offering will be used to further advance Cytokinetics’ pipeline of muscle-directed investigational medicines, including the development of omecamtiv mecarbil, a novel cardiac myosin activator, and reldesemtiv, a fast skeletal muscle troponin activator. The funds will also support general corporate purposes, such as working capital, research and development expenses, and potential strategic acquisitions or investments.
This public offering demonstrates Cytokinetics’ commitment to advancing its innovative research and development programs, which have the potential to address significant unmet medical needs in the treatment of cardiovascular and neuromuscular diseases. The company’s dedication to improving patients’ lives through groundbreaking science continues to drive its progress in the biotechnology industry.
