Cytokinetics Q1 revenue jumps on MYQORZO launch

Cytokinetics, Incorporated

05/05/2026 21:29

Overview

U.S. cardiovascular drugmaker's Q1 total revenue rose sharply yr/yr on MYQORZO launch and milestone

Company posted wider Q1 net loss of $206 mln, reflecting higher launch-related expenses

MYQORZO prescribed to about 680 patients by over 275 providers in initial partial quarter

Outlook

Cytokinetics maintains 2026 GAAP combined R&D and SG&A expense guidance of $830 mln to $870 mln

Company expects to complete enrollment of adolescent cohort in CEDAR-HCM trial in Q4 2026

Cytokinetics preparing for MYQORZO launch in Germany in Q2 2026

Result Drivers

MYQORZO LAUNCH - Initial U.S. commercial launch of MYQORZO drove Q1 revenue, with over 275 providers prescribing to about 680 patients

MILESTONE REVENUE - Q1 revenue included $11.9 mln milestone from first U.S. MYQORZO sale under Bayer license agreement

LAUNCH-RELATED EXPENSES - Higher SG&A expenses driven by external costs for MYQORZO launch and increased personnel costs

Company press release: ID:nGNXcfDxmQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$19.26 mln
Q1 Net Income
-$206.03 mln
Q1 Basic EPS
-$1.67
Q1 Operating Expenses
$202.97 mln
Q1 Operating Income
-$183.62 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Cytokinetics Inc is $100.00, about 51.4% above its May 4 closing price of $66.05

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)