CYTK · Cytokinetics, Incorporated

Cytokinetics reported its first quarter 2026 financial results, highlighted by the initial U.S. commercial launch of MYQORZO (aficamten) for symptomatic obstructive hypertrophic cardiomyopathy (oHCM). The launch began on January 27, 2026, and generated $4.8 million in net product revenue for approximately nine weeks of sales. Over 275 healthcare professionals prescribed MYQORZO to an estimated 680 patients by quarter-end, with more than 70% of patients on therapy receiving paid prescriptions. Total revenues for Q1 2026 were $19.4 million, compared to $1.6 million in the same period last year, driven by MYQORZO sales, $2.6 million in collaboration revenue, and an $11.9 million milestone payment from Bayer triggered by the first U.S. sale. Research and development expenses decreased slightly to $95.5 million from $98.3 million, primarily due to lower clinical trial activity partially offset by higher personnel costs. Selling, general and administrative expenses surged to $104.9 million from $57.4 million, reflecting external costs associated with the commercial launch and higher personnel-related costs, including stock-based compensation. The net loss widened to $206.0 million ($1.67 per share) from $161.4 million ($1.36 per share) in Q1 2025. The company ended the quarter with approximately $1.1 billion in cash, cash equivalents and investments, down from $1.2 billion at December 31, 2025. Management highlighted strong early launch metrics exceeding expectations and positive topline results from ACACIA-HCM in non-obstructive HCM, which met dual primary endpoints. The company maintained its full year 2026 GAAP combined R&D and SG&A expense guidance of $830 million to $870 million.