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LONDON, UK / ACCESSWIRE / August 4, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cytokinetics, Inc. (NASDAQ: CYTK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CYTK. The Company announced on August 02, 2017, that the Phase-2 clinical trial of omecamtiv mecabril in Japanese patients with heart failure has met its pharmacokinetic primary endpoint and demonstrated statistically significant improvements in systolic ejection time (SET). Omecamtiv mecarbil, which is an under-development product and a novel investigational cardiac myosin activator that increases cardiac contractility, is being developed by Amgen in collaboration with Cytokinetics for the potential treatment of heart failure. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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The Japanese Phase-2 Clinical Trial

The Phase-2 trial was conducted to assess the pharmacokinetics of omecamtiv mecabril as well as its effect on cardiac function, safety, and tolerability in Japanese patients with chronic heart failure. The trial randomized 81 patients 1:1:1:1 to placebo, 25 mg of omecamtiv mecabril twice daily and two separate PK-based titration groups in which the dose of the activator could be increased from 25 to 37.5 mg or 50 mg, twice daily based on the pre-dose concentration at week 2.

According to Cytokinetics, patients received study drug for 16 weeks after randomization. The primary endpoint was to assess the plasma concentrations of omecamtiv mecarbil at weeks 2,4,12, and 16, and the area under the curve at week 8. The secondary endpoint of Phase-2 trials was to assess the change from baseline in SET measured by echocardiography at week 16.

What is Omecamtiv Mecabril?

Omecamtiv mecabril is a novel cardiac myosin activator, where cardiac myosin is the cytoskeletal motor protein in cardiac muscle that is directly responsible for converting chemical energy into the mechanical force resulting in cardiac contraction. Cardiac myosin activators are expected to accelerate the rate-limiting step of the myosin enzymatic cycle and shift the enzymatic cycle in favor of the force-producing state.

Q2 FY17 Results

Cytokinetics reported its Q2 FY17 results on August 02, 2017, where it reported total revenues of $3.1 million versus $5.8 million in Q2 FY16. The Company's net loss for the period was $29.1 million, up from $11.6 million loss in Q2 FY16. Cytokinetics raised $83 million in net proceeds, after deducting underwriting discounts and commissions from an underwritten public offering of 6,049,000 shares of common stock including the underwriter's exercise of their overallotment option.

The Company stated that results from VITALITY-AS are expected later in 2017, and the recently initiated two additional clinical trials of CK-212707 - one in ALS and one in elderly people with frailty - under the Company's collaboration with Astellas. The Company is advancing late-stage development of different first-in-class programs while also readying the potential registration and commercialization of tirasemtiv in North America and Europe.

Company Growth Prospects

Cytokinetics is a late-stage biopharmaceutical Company focused on discovering, developing, and commercializing first-in-class muscle activators as potential treatments for diseases in which muscle performance is compromised and/or declining. The Company is developing small molecule drug candidates specifically engineered to increase muscle function and contractility.

The Company's lead drug candidate is tirasemtiv, a fast skeletal muscle troponin activator. It is the subject of VITALITY-ALS, an international Phase-3 clinical trial in patients with ALS. Tirasemtiv has been granted the orphan drug designation and fast track status by the FDA in the US and orphan drug designation by the European Medicines Agency.

Last Close Stock Review

On Thursday, August 03, 2017, the stock closed the trading session at $13.50, tumbling 10.00% from its previous closing price of $15.00. A total volume of 911.72 thousand shares have exchanged hands, which was higher than the 3-month average volume of 577.55 thousand shares. Cytokinetics' stock price soared 3.45% in the last one month, 23.29% in the past six months, and 11.57% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 11.11%. The stock is trading at a PE ratio of 613.64 and currently, has a market cap of $643.28 million.

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