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Cytokinetics director Wendall Wierenga sells $36,068 in stock

Published 17/12/2024, 01:26
Cytokinetics director Wendall Wierenga sells $36,068 in stock
CYTK
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In addition to this sale, Wierenga exercised stock options to acquire 742 shares at a price of $7.37 per share, amounting to a total value of $5,468. These transactions led to a post-sale ownership of 24,559 shares of Cytokinetics (NASDAQ:CYTK) common stock. The company, currently valued at approximately $5.8 billion, has demonstrated strong five-year returns according to InvestingPro, which offers 10 additional investment tips and a comprehensive Pro Research Report for deeper analysis of CYTK's financial health and market position. The company, currently valued at approximately $5.8 billion, has demonstrated strong five-year returns according to InvestingPro, which offers 10 additional investment tips and a comprehensive Pro Research Report for deeper analysis of CYTK's financial health and market position.

In addition to this sale, Wierenga exercised stock options to acquire 742 shares at a price of $7.37 per share, amounting to a total value of $5,468. These transactions led to a post-sale ownership of 24,559 shares of Cytokinetics common stock.

In other recent news, Cytokinetics has experienced significant developments. The company's Chief Accounting Officer, Robert Wong, is set to leave, and Chief Financial Officer Sung Lee will assume the additional role of principal accounting officer. The U.S. Food and Drug Administration (FDA) has accepted Cytokinetics' new drug application for aficamten, a potential treatment for obstructive hypertrophic cardiomyopathy. The company has also entered into a significant agreement with Bayer (OTC:BAYRY) Consumer Care AG for the development and commercialization of aficamten in Japan. Analyst firms H.C. Wainwright and Goldman Sachs have maintained their Buy and Neutral ratings respectively on Cytokinetics, citing recent developments and promising data on aficamten. Additionally, Santo J. Costa has resigned from the company's Board of Directors, reducing the board from nine to eight members. These are all recent developments as Cytokinetics continues to advance its pipeline of drug candidates.

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