Cytokinetics, Incorporated, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel muscle activators and muscle inhibitors as potential treatments for debilitating diseases in the United States. The company markets MYQORZO, a novel, oral, and small molecule cardiac myosin inhibitor for the treatment of symptomatic oHCM. It also develops Aficamten, a novel, oral, and small molecule cardiac myosin inhibitor for the treatment of HCM; and omecamtiv mecarbil, a potential treatment across the continuum of care in heart failure with severely reduced ejection fraction. In addition, the company is involved in developing and Ulacamten, a novel, selective, oral, and small molecule cardiac myosin inhibitor designed to reduce the hypercontractility associated with heart failure with preserved ejection fraction in Phase 1 clinical trials; and CK-089, a fast skeletal muscle troponin activator in Phase 1 clinical trials. Cytokinetics, Incorporated was incorporated in 1997 and is headquartered in South San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $88M | $-671M | $-785M | $-535M | 119.0% | 376.6% | 33.2% |
| 2024 | $18M | $-493M | $-590M | $-400M | 435.5% | 145.3% | 12.0% |
| 2023 | $8M | $-457M | $-526M | $-416M | 136.2% | -92.0% | 35.3% |
| 2022 | $95M | $-332M | $-389M | $-311M | 360.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 94.59 | 7.53 | 18.47 | 88.04 |
| Operating Revenue | - | 94.59 | 7.53 | 18.47 | 88.04 |
| Cost Of Revenue | - | 240.81 | 330.12 | 339.41 | 416.03 |
| Gross Profit | - | -146.22 | -322.59 | -320.93 | -327.99 |
| Operating Expense | - | 418.79 | 503.74 | 554.72 | 700.30 |
| Research And Development | - | 240.81 | 330.12 | 339.41 | 416.03 |
| Selling General And Administration | - | 177.98 | 173.61 | 215.31 | 284.27 |
| Total Expenses | - | 418.79 | 503.74 | 554.72 | 700.30 |
| Operating Income | - | -324.20 | -496.20 | -536.25 | -612.26 |
| Total Operating Income As Reported | - | -324.20 | -496.20 | -536.25 | -612.26 |
| EBITDA | - | -331.98 | -456.68 | -493.48 | -670.96 |
| Normalized EBITDA | - | -307.05 | -456.68 | -494.78 | -553.91 |
| EBIT | - | -337.80 | -468.58 | -503.01 | -681.09 |
| Interest Income | - | 11.34 | 27.63 | 51.53 | 48.42 |
| Interest Expense | - | 51.16 | 57.67 | 86.51 | 103.87 |
| Net Interest Income | - | -39.81 | -30.04 | -34.98 | -55.45 |
| Other Non Operating Income Expenses | - | - | - | -19.60 | -0.20 |
| Other Income Expense | - | -24.94 | - | -18.30 | -117.25 |
| Interest Income Non Operating | - | 11.34 | 27.63 | 51.53 | 48.42 |
| Interest Expense Non Operating | - | 51.16 | 57.67 | 86.51 | 103.87 |
| Net Non Operating Interest Income Expense | - | -39.81 | -30.04 | -34.98 | -55.45 |
| Pretax Income | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Net Income From Continuing And Discontinued Operation | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Net Income From Continuing Operation Net Minority Interest | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Net Income | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Net Income Common Stockholders | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Net Income Including Noncontrolling Interests | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Normalized Income | - | -364.02 | -526.24 | -590.83 | -667.91 |
| Diluted NI Availto Com Stockholders | - | -388.96 | -526.24 | -589.53 | -784.96 |
| Basic Average Shares | - | 89.82 | 96.52 | 111.98 | 120.10 |
| Diluted Average Shares | - | 89.82 | 96.52 | 111.98 | 120.10 |
| Reconciled Depreciation | - | 5.81 | 11.89 | 9.53 | 10.12 |
| Reconciled Cost Of Revenue | - | 240.81 | 330.12 | 339.41 | 416.03 |
| Total Unusual Items | - | -24.94 | 0 | 1.30 | -117.05 |
| Total Unusual Items Excluding Goodwill | - | -24.94 | 0 | 1.30 | -117.05 |
| Special Income Charges | - | -24.94 | 0 | 0 | -121.25 |
| Other Special Charges | - | 24.94 | - | - | 121.25 |
| Gain On Sale Of Security | - | - | - | 1.30 | 4.20 |
| General And Administrative Expense | - | 177.98 | 173.61 | 215.31 | 284.27 |
| Other Gand A | - | 177.98 | 173.61 | 215.31 | 284.27 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cytokinetics, Incorporatedthis co. | CYTK | $9.8B | - | - | 119.0% | - |
| Axsome Therapeutics, Inc. | AXSM | $11.9B | -65.03 | 134.91 | -207.5% | -70.25 |
| Madrigal Pharmaceuticals, Inc. | MDGL | $11.4B | -39.41 | 18.85 | -47.8% | -43.53 |
| Arrowhead Pharmaceuticals, Inc. | ARWR | $10.6B | -6491.00 | 22.72 | -0.3% | 65.92 |
| The Ensign Group, Inc. | ENSG |
| - |
| - |
| - |
| - |
| - |
| - |
| $9.6B |
| 27.92 |
| 4.30 |
| 15.4% |
| 19.90 |
| ImmunityBio, Inc. | IBRX | $7.6B | -21.73 | -15.26 | 70.2% | -36.08 |
| Nuvalent, Inc. | NUVL | $7.4B | -17.46 | 5.95 | -34.1% | - |
| Praxis Precision Medicines, Inc. | PRAX | $7.4B | -24.34 | 8.41 | -34.5% | -21.54 |
| HealthEquity, Inc. | HQY | $7.2B | 33.42 | 3.41 | 10.2% | 16.10 |
| Peer Median | - | -23.03 | 7.18 | -17.2% | -21.54 | |