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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