hanibaram Cytokinetics ( NASDAQ: CYTK ) said that although a third party engaged in acquisition discussions and was supportive of terms, the potential acquirer eventually walked away from a deal. In 2023, Cytokinetics began having discussions with potential partners regarding its hypertrophic cardiomyopathy drug aficamten. One of those companies expressed interest in acquiring all of Cytokinetics.
"The Board was supportive of moving forward on a potential acquisition on substantially the terms the counterparty communicated to us and on terms that we believed were going to be mutually acceptable," Cytokinetics ( CYTK ) said in an SEC 8-K filing. "However, the third party did not move forward with an acquisition of our company at that time. " The company added, "If there had been an actionable proposal in the best interests of shareholders, it would have received support of our Board and would have been executed with support of Management.
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