Stock Alert: Cytokinetics Climbs 14%

(RTTNews) - Shares of Cytokinetics, Inc. (CYTK) are gaining more than 14 percent or $3.50 in Monday's morning trade at $27.49 after the biotechnology company said new results from the Phase 2 COSMIC-HF clinical trial showed that treatment with Omecamtiv Mecarbil was associated with improved right ventricular function.

The company said it presented data from two presentations at the Heart Failure Society of America or HFSA Virtual Annual Scientific Meeting 2020. The first presentation provided analyses of outcomes research in patients with heart failure with reduced ejection fraction (HFrEF), whose characteristics were similar to those patients who met eligibility criteria for GALACTIC-HF, the Phase 3 event-driven cardiovascular outcomes clinical trial of omecamtiv mecarbil.

The second presentation provided post hoc analyses of effects of omecamtiv mecarbil on right ventricular function arising from COSMIC-HF, the Phase 2 clinical trial evaluating omecamtiv mecarbil in patients with HFrEF.

"Additionally, while we have previously reported that treatment with omecamtiv mecarbil improved left atrial and ventricular function in patients in COSMIC-HF, these additional data suggest that right ventricular function may have been improving as well, underscoring a potential for a more comprehensive effect on overall cardiac function," said Fady Malik, Cytokinetics' Executive Vice President of Research & Development.

Cytokinetics has traded in a range of $7.73 to $29.20 in the past 52 weeks.