Cytokinetics jumps after FDA approves its drug for rare heart disease

Cytokinetics, Incorporated

22/12/2025 16:50

Updates

** Shares of drugmaker Cytokinetics CYTK.O rise 12.1% to $70.27

** The U.S. Food and Drug Administration on Friday approved Cytokinetics' oral drug to treat a rare heart condition called obstructive hypertrophic cardiomyopathy

** "This overall fell nicely in line with our expectations and those generally of investors based on our conversations" - J.P.Morgan

** The keenly watched drug, branded as Myqorzo, will compete with Bristol Myers' BMY.N Camzyos

** "We believe BMY's Camzyos will maintain first-in-class market share advantage vs CYTK's Myqorzo in oHCM," said Guggenheim Partners analyst Seamus Fernandez

** Leerink Partners raises PT to $83 from $73 and says "we think the stock setup skews positively at these levels, as we remain optimistic about Myqorzo's long term market opportunity"

** "We believe the company is fully prepared and optimally funded to execute on the launch" - Citizens

** The approval enables it to draw down an additional $175 million under its Royalty Pharma loan agreement, Citizens adds

** Including session moves, stock up 47.4% YTD

 (Reporting by Padmanabhan Ananthan and Siddhi Mahatole)

 ((Padmanabhan.Ananthan@thomsonreuters.com))