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In a recent transaction, Robert Blum, the President and CEO of Cytokinetics Inc. (NASDAQ:CYTK), sold 25,000 shares of the company’s common stock. The shares were sold on March 5th at a price of $43.23 each, amounting to a total value of $1,080,750. The sale price was slightly below the current trading price of $43.88, with the $5.2 billion market cap company currently trading near InvestingPro’s Fair Value estimate. Following this sale, Blum retains direct ownership of 381,151 shares.
Additionally, Blum holds indirect ownership of 2,083 shares each in two trusts, as indicated by the filing. These shares are held by The Bridget Blum 2003 Irrevocable Trust and The Brittany Blum 2003 Irrevocable Trust.
In other recent news, Cytokinetics Inc. reported its fourth-quarter 2024 earnings, revealing a slight miss in earnings per share (EPS), posting -$1.26 against a forecast of -$1.22. However, the company’s revenue for the quarter was $16.9 million, significantly surpassing the previous year’s $1.7 million, indicating strong year-over-year growth. Cytokinetics maintains a robust cash position with $1.2 billion in cash and investments, which supports its ongoing clinical trials and commercial preparations. The company is preparing for a potential U.S. commercial launch of Afacamten in September 2025, pending FDA approval. Cytokinetics is also expanding its commercial infrastructure in Europe and preparing for market entry in China through a partnership with Sanofi (NASDAQ:SNY). Additionally, Cytokinetics has entered into a collaboration and licensing agreement with Bayer (OTC:BAYRY) for the development and commercialization of Afikamten in Japan. The company has been actively engaging with analysts, addressing questions on its market expansion strategies and regulatory interactions. As part of its strategic initiatives, Cytokinetics is focusing on key milestones for 2025, including expected GAAP operating expenses projected between $670 million and $710 million.
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