Cytokinetics (CYTK) Misses Q4 EPS by 42c, provides guidance

Cytokinetics (NASDAQ: CYTK) reported Q4 EPS of ($1.38), $0.42 worse than the analyst estimate of ($0.96). Revenue for the quarter came in at $1.67 million versus the consensus estimate of $7.63 million.

GUIDANCE:

Cytokinetics sees FY2024 revenue of $3-5 million, versus the consensus of $26.243 million.
Operating expenses will be in the range of $420 to 450 million, and net cash utilization will be approximately $390 to $420 million. Inclusive of approximately $83 million, net, raised in early 2024 through our ATM equity vehicle, our year end cash balance of $655.4 million, plus available long-term debt from Royalty Pharma, represents approximately two years of forward cash based on our projected 2024 operating expenses and net cash utilization.

For earnings history and earnings-related data on Cytokinetics (CYTK) click here.

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