Cytokinetics appoints Robert E. Landry to its Board of Directors, enhancing financial expertise ahead of potential commercialization.
Quiver AI Summary
Cytokinetics, Incorporated has appointed Robert E. Landry to its Board of Directors as the company prepares for potential commercialization of its first medicine. Mr. Landry brings over 30 years of financial and operational experience in the pharmaceutical sector, including a notable 11-year tenure as Chief Financial Officer at Regeneron Pharmaceuticals. His expertise in financial engineering, capital allocation, and operational efficiency will support Cytokinetics' goals of sustainable growth and successful drug launch. Cytokinetics is focused on developing innovative treatments for muscle-related diseases and is currently advancing aficamten, a cardiac myosin inhibitor, among other drug candidates. The company is positioned for possible regulatory approvals following positive outcomes from recent clinical trials.
Potential Positives
- Appointment of Robert E. Landry to the Board enhances financial and operational expertise, crucial as the company prepares for potential commercialization of its first medicine.
- Mr. Landry's extensive experience at Regeneron and other major pharmaceutical companies aligns with Cytokinetics' vision for sustainable growth and innovation in research and development.
- The announcement underscores a pivotal moment for Cytokinetics as it approaches a key shareholder value inflection point, indicating potential positive developments for stakeholders.
Potential Negatives
- The press release highlights a need for financial and operational expertise as the company approaches commercialization, which may indicate current weaknesses in these areas.
- Forward-looking statements disclaim responsibility for future performance, suggesting potential risks and uncertainties surrounding the company's future success.
- The focus on upcoming approvals and commercialization of aficamten may imply that the company is heavily reliant on a single product's success for growth.
FAQ
Who is the new member of Cytokinetics' Board of Directors?
Robert E. Landry has been appointed to Cytokinetics' Board of Directors, bringing extensive pharmaceutical industry experience.
What experience does Robert E. Landry bring to Cytokinetics?
Mr. Landry has over 30 years of financial and operational expertise, including his role as CFO at Regeneron Pharmaceuticals.
What is the focus of Cytokinetics as a biopharmaceutical company?
Cytokinetics focuses on discovering, developing, and commercializing drug candidates that improve muscle performance in debilitating diseases.
What upcoming products is Cytokinetics preparing for commercialization?
Cytokinetics is preparing for the potential launch of aficamten, a cardiac myosin inhibitor, along with other innovative therapies.
How does Landry's background align with Cytokinetics' goals?
His expertise in financial management and operational efficiencies aligns with Cytokinetics' commitment to sustainable growth and innovation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CYTK Insider Trading Activity
$CYTK insiders have traded $CYTK stock on the open market 34 times in the past 6 months. Of those trades, 0 have been purchases and 34 have been sales.
Here’s a breakdown of recent trading of $CYTK stock by insiders over the last 6 months:
- FADY IBRAHAM MALIK (EVP Research & Development) has made 0 purchases and 21 sales selling 70,826 shares for an estimated $3,794,093.
- ROBERT I BLUM (President & CEO) has made 0 purchases and 7 sales selling 35,000 shares for an estimated $1,868,550.
- B LYNNE PARSHALL has made 0 purchases and 2 sales selling 10,000 shares for an estimated $560,900.
- WENDALL WIERENGA has made 0 purchases and 3 sales selling 5,936 shares for an estimated $305,785.
- JOHN T HENDERSON sold 1,780 shares for an estimated $89,747
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CYTK Hedge Fund Activity
We have seen 177 institutional investors add shares of $CYTK stock to their portfolio, and 154 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DARWIN GLOBAL MANAGEMENT, LTD. removed 4,575,558 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $241,589,462
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 1,551,310 shares (+19.1%) to their portfolio in Q3 2024, for an estimated $81,909,168
- PRICE T ROWE ASSOCIATES INC /MD/ added 806,602 shares (+34.2%) to their portfolio in Q3 2024, for an estimated $42,588,585
- VESTAL POINT CAPITAL, LP removed 575,000 shares (-27.7%) from their portfolio in Q3 2024, for an estimated $30,360,000
- FMR LLC added 571,126 shares (+5.0%) to their portfolio in Q3 2024, for an estimated $30,155,452
- VOLORIDGE INVESTMENT MANAGEMENT, LLC removed 542,009 shares (-97.6%) from their portfolio in Q3 2024, for an estimated $28,618,075
- DEEP TRACK CAPITAL, LP added 497,411 shares (+375.4%) to their portfolio in Q3 2024, for an estimated $26,263,300
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Appointment Deepens Financial and Operational Expertise of Board
as Company Approaches Potential Commercialization
SOUTH SAN FRANCISCO, Calif., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced the appointment of Robert E. Landry to its Board of Directors. Mr. Landry brings over three decades of financial and operational expertise in the pharmaceutical industry, most recently having served as the Chief Financial Officer at Regeneron Pharmaceuticals Inc. for 11 years.
“We are pleased to have Bob join our Board as we approach a key shareholder value inflection point for the company and prepare for the potential approval and launch of our first medicine,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “His extensive career in finance and expertise spanning financial engineering, capital allocation and efficiencies, tax strategy and treasury management will be important as we advance toward commercialization. His leadership at Regeneron, guiding the company’s global scaling, while maintaining disciplined spending and a steadfast commitment to innovation in research and development, aligns with our vision at Cytokinetics of becoming a fully integrated company achieving sustainable growth.”
In his role as Chief Financial Officer at Regeneron, Mr. Landry was responsible for all financial operations as well as investor relations, information technology, competitive intelligence and global non-manufacturing facilities, helping guide the company as it grew substantially in market capitalization and workforce over more than a decade. During his tenure he oversaw two public acquisitions, Checkmate Pharmaceuticals and Decibel Therapeutics, and established affiliates around the world.
Prior to joining Regeneron, Mr. Landry spent 25 years at Wyeth and Pfizer Inc., where he held numerous corporate and operational roles including Corporate Treasurer, Senior Vice President of Finance, Director of Pharmaceutical Marketing and Sales, and Chief Financial Officer of Wyeth Australia and New Zealand. Mr. Landry started his career at Coopers & Lybrand, now PricewaterhouseCoopers LLP. He was a Certified Public Accountant in New York and received a Bachelor of Business Administration from the University of Notre Dame.
About Cytokinetics
Cytokinetics is a late-stage, muscle biology specialty biopharmaceutical company focused on discovering, developing and commercializing muscle biology-directed drug candidates as potential treatments for debilitating diseases in which muscle performance is compromised. As a leader in muscle biology and the mechanics of muscle performance, Cytokinetics is intent on meaningfully improving the lives of patients through global access to innovative medicines. Cytokinetics is readying for potential regulatory approvals and commercialization of
aficamten,
a potential next-in-class cardiac myosin inhibitor following positive results from SEQUOIA-HCM, the pivotal Phase 3 clinical trial in patients with obstructive hypertrophic cardiomyopathy (HCM).
Aficamten
is also being evaluated in additional clinical trials enrolling patients with obstructive and non-obstructive HCM. Cytokinetics is also developing
omecamtiv mecarbil
, a cardiac myosin activator, in patients with heart failure with severely reduced ejection fraction (HFrEF), CK-586, a cardiac myosin inhibitor with a mechanism of action distinct from
aficamten,
for the potential treatment of heart failure with preserved ejection fraction (HFpEF) and CK-089, a fast skeletal muscle troponin activator with potential therapeutic application to a specific type of muscular dystrophy and other conditions of impaired skeletal muscle function.
For additional information about Cytokinetics, visit
www.cytokinetics.com
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Forward-Looking Statements
This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Cytokinetics’ and its partners’ research and development activities of Cytokinetics’ product candidates. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to the risks related to Cytokinetics’ business outlines in Cytokinetics’ filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and Cytokinetics’ actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
CYTOKINETICS® and the CYTOKINETICS and C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.
Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757
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