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Investing.com -- Cytokinetics , Incorporated (NASDAQ:CYTK) reported second-quarter earnings that significantly exceeded analyst expectations, sending shares up 3% as investors responded positively to the company’s strong financial performance and progress toward potential approval of its lead drug candidate.
The biopharmaceutical company posted a quarterly loss of -$1.12 per share, beating the analyst consensus estimate of -$1.42. Revenue surged to $66.76 million, dramatically outpacing the consensus estimate of $2.01 million. The revenue figure included $52.4 million related to the company’s license and collaboration agreement with Bayer (OTC:BAYRY) for aficamten in Japan, and $11.7 million from achievement of clinical milestones.
"Following solid progress in the first half of the year, we are looking forward to several key corporate milestones. Our primary focus remains on preparations for the potential FDA approval of aficamten in late December and subsequent commercial launch in early 2026," said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer.
The company maintained its full-year 2025 financial guidance, projecting GAAP operating expenses between $670 million and $710 million, including $110-120 million in non-cash stock-based compensation expense. These expenses reflect investments toward commercial readiness for the potential launch of aficamten for obstructive hypertrophic cardiomyopathy (HCM).
Cytokinetics ended the quarter with approximately $1.0 billion in cash, cash equivalents and investments, down from $1.1 billion at the end of the previous quarter. The company received $75 million from drawing on Tranche 4 of its Royalty Pharma Multi Tranche Term Loan during the quarter.
The FDA has extended the review period for aficamten with a new PDUFA target action date of December 26, 2025. The company also continues to support regulatory reviews in Europe and China, with a potential EMA decision expected in the first half of 2026.
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