Cytokinetics (CYTK) Posts Narrower than Expected Q3 Loss

Cytokinetics (NASDAQ: CYTK) reported Q3 EPS of ($0.16), $0.07 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $9.4 million versus the consensus estimate of $7.43 million.

"In the third quarter, Cytokinetics made considerable progress across our development stage programs as we elaborated in our public announcements containing program updates. In particular, I am pleased that we have completed our review of the results from BENEFIT-ALS and that we may have identified a potential path forward for tirasemtiv to Phase III development. In recent months, we have witnessed increases in the levels of awareness, education, fundraising and advocacy for ALS and Cytokinetics is proud to stand tall with patients with ALS and their caregivers and lead the fight against this grievous illness," stated Robert I. Blum, Cytokinetics` President and Chief Executive Officer. "In the most recent quarter, we also concluded the conduct of the clinical trials for which we are responsible under our collaborations with each of Astellas and Amgen. We look forward to the advancement of CK-2127107 towards Phase II and omecamtiv mecarbil towards Phase III under our strategic alliances."

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

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