Cytokinetics (NASDAQ: CYTK) announced plans for an underwritten public offering of approximately $650 million in common stock shares, according to a company statement. The cardiovascular biopharmaceutical company said the offering is subject to market and other conditions.

The company expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering. All shares will be sold by Cytokinetics directly.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies are serving as joint book-running managers for the offering.

The securities are being offered under a shelf registration statement filed with the Securities and Exchange Commission on February 27, 2025, which became automatically effective. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

The company stated there can be no assurance whether or when the offering may be completed, or regarding the actual size or terms of the offering.

Cytokinetics develops treatments for cardiac muscle dysfunction and has MYQORZO (aficamten), a cardiac myosin inhibitor approved in the United States, Europe and China for treating adults with symptomatic obstructive hypertrophic cardiomyopathy.