QVT Financial Boosts Stake in Cytokinetics (CYTK) to 8.44%, Profits From Yesterday's Big Surge
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- Cytokinetics Announces Non-Clinical Data Relating to GSK-923295 Presented at the 2009 AACR-NCI-EORTC International Conference
- Notable Analyst Rating Changes 11/18: SII, ZMH, FSLR, PHM Upgraded; TGT, ADSK, VIP, JEC, PARD Downgraded
In a 13G filing on Cytokinetics Inc. (Nasdaq: CYTK), QVT Financial LP dislosed an 8.44% stake, 5,126,627 shares, in the company as of May 21, 2009. The firm held 1,429,727 shares of CYTK at the quarter ended 3/31. A 13G indiates a 'passive investment' above 5%.
It appears QVT Financial got heavy into the stock before yesterday's 25% surge after Amgen exercised its option to obtain an exclusive license, worldwide (excluding Japan), to Cytokinetics' cardiac contractility program. The license includes CK-1827452, a novel cardiac myosin activator being developed for the treatment of heart failure. Cytokinetics will receive a non-refundable exercise fee of $50 million.
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