Cytokinetics Q2 revenue falls as license revenue drops

Cytokinetics, Incorporated

06/08/2026 21:11

Overview
US cardiovascular drugmaker's Q2 revenue fell sharply yr/yr as license revenue dropped
Net loss widened to $199 mln in Q2 amid higher launch and personnel costs
MYQORZO net product revenue reached $25 mln in Q2 after US and Germany launches

Outlook
Cytokinetics raises 2026 GAAP R&D and SG&A expense guidance to $860 mln-$890 mln
Company expects to submit supplemental NDA for aficamten in non-obstructive HCM in Q4 2026
Cytokinetics expects to launch MYQORZO in over five additional markets by H1 2027

Result Drivers
MYQORZO LAUNCH - Co said Q2 results were driven by commercial launch momentum for MYQORZO in the US and Germany, with expanding physician adoption and patient access
HIGHER LAUNCH COSTS - SG&A expenses increased due to costs associated with the commercial launch of MYQORZO and higher personnel-related costs
ABSENCE OF LICENSE REVENUE - Overall revenue declined as Q2 did not include license and milestone revenue, compared to $64.4 mln in Q2 2025

Company press release: ID:nGNX7zDwMf

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$28.62 mln
 
Q2 Loss Per Share
 
$1.50
 
Q2 Net Loss
 
$198.76 mln
 
Q2 Operating Expenses
 
$207.80 mln
 
Q2 Operating Income
 
-$179.17 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 2 "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, Incorporated is $105.00, about 33.2% above its August 5 closing price of $78.85

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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.)