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On Wednesday, Royalty Pharma plc RPRX and Cytokinetics Incorporated CYTK entered into a strategic funding collaboration providing capital to support the commercialization of aficamten and advance the company’s expanding cardiovascular pipeline . The transaction includes funding for planned commercialization, development funding, royalty restructuring, revenue sharing, and the purchase of Cytokinetics equity. Together, these provide Cytokinetics with $250 million on closing and up to a total of $575 million to support the company’s further maturation and corporate development.
Cytokinetics also priced a public offering of 9.8 million shares at $51/share, with gross proceeds of approximately $500 million . Also Read: Cytokinetics’ Heart Drug Is A Multi-Billion Dollar Opportunity By 2032 Despite Novartis Setback: Analyst .
HC Wainwright writes, “The transactions send a clear message that all operations at Cytokinetics, led by aficamten, are full speed ahead regardless of any potential business development plans.” The analyst notes that there might be increased uncertainty in the stock due to past rumors suggesting that a merger or acquisition was possible. However, despite the potential for acquisition, Cytokinetics remains focused.
Recent transactions indicate a strong commitment and focus, which is expected to be positively received by investors. HC Wainwright analyst writes, “We believe there may be added volatility with the shares as some ma.
