Cytokinetics appoints Jeffrey J. Hessekiel as EVP and chief legal officer

Cytokinetics, Incorporated (NASDAQ:CYTK) announced Thursday it has appointed Jeffrey J. Hessekiel as Executive Vice President, Chief Legal and Administrative Officer, effective Friday. The information was disclosed in a statement based on a recent SEC filing.

According to the company, Hessekiel, 56, previously served as Executive Vice President and General Counsel at Exelixis, Inc. from February 2014 to November 2025. He also held the position of Secretary at Exelixis during two separate periods and has prior legal experience with Arnold & Porter LLP, Gilead Sciences, Inc., Wilson Sonsini Goodrich and Rosati PC, and Heller Ehrman LLP. Hessekiel is admitted to practice law in California and holds a J.D. from The George Washington University Law School and a B.A. in Political Science from Duke University.

Under the terms of his employment offer, Hessekiel will receive an initial annual base salary of $660,000. He will participate in the company’s benefit and compensation plans, including its equity and non-equity incentive programs. His target bonus under the annual non-equity incentive plan will be 50% of his base salary, with 75% based on corporate goals and 25% on individual goals to be set in his first months of employment.

Hessekiel will also receive a signing bonus of $400,000, half of which is payable after his first payroll cycle and the remainder after one year of employment, subject to repayment if he resigns or is terminated for cause within one year of receipt.

As part of his compensation, Hessekiel will be granted restricted stock units valued at $5.8 million, based on the closing price of Cytokinetics’ common stock on the grant date. The award will vest over three years: 40% on the first anniversary, 40% on the second, and 20% on the third, contingent on continued service.

The company and Hessekiel have also entered into a standard indemnification agreement, providing for indemnification to the fullest extent permitted by law.

This article is based on a press release statement and information from a recent SEC filing.

In other recent news, Cytokinetics reported its third-quarter 2025 earnings, revealing a significant revenue shortfall. The company posted revenue of $1.93 million, which was substantially below the forecasted $6.05 million, resulting in a -68.1% revenue surprise. Despite this, Cytokinetics achieved an earnings per share (EPS) of -$2.55, which was notably lower than the anticipated -$1.57. In a separate development, RBC Capital has updated its price target for Cytokinetics, raising it from $82 to $87 while maintaining an Outperform rating. This adjustment reflects RBC’s updated modeling assumptions for the company’s expected launch of aficamten in 2026, following a PDUFA date in December 2025. These developments highlight significant shifts in both financial performance and future expectations for Cytokinetics.

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