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Roth Sees Visibility in Cytokinetics' (CYTK) CK-107 Program Increasing Significantly Moving Forward

October 13, 2014 9:26 AM EDT
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Price: $70.11 -1.82%

Rating Summary:
    18 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Roth Capital comments on Cytokinetics (Nasdaq: CYTK) following news that the company and Astellas are prepping for the Phase II program for CK-2127107 (CK-107) following the completion of five Phase I studies by Cytokinetics. Roth has Cytokinetics at Buy with a price target of $13.

Analyst Joseph Pantginis commented, We expect the CK-107 to increase significantly in visibility going forward, especially with the validation of having Astellas as a partner. The collaboration with Astellas was formed in June 2013 with Cytokinetics to receive over $40 million upfront payments ($16 million license fee and $24 million in R&D reimbursement over two years). Cytokinetics can receive over $450 million in milestone payments as well as royalties. Cytokinetics also has an option to copromote in North America. To highlight our levels of conservatism, we currently do not include CK-107 in our valuation of Cytokinetics.

For an analyst ratings summary and ratings history on Cytokinetics click here. For more ratings news on Cytokinetics click here.

Cytokinetics closed at $3.07 yesterday.



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