Cytokinetics (NASDAQ: CYTK) announced the pricing of an underwritten public offering of 9,859,155 shares of common stock at $71.00 per share. The company expects to receive approximately $700 million in gross proceeds before underwriting discounts, commissions and other offering expenses.

The offering is scheduled to close on May 8, 2026, subject to customary closing conditions. Cytokinetics granted underwriters a 30-day option to purchase up to an additional 1,478,873 shares at the public offering price, less underwriting discounts and commissions.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Jefferies are serving as joint book-running managers for the offering. Mizuho is acting as lead co-manager, while Citizens Capital Markets, Needham & Company, B. Riley Securities and H.C. Wainwright & Co. are serving as co-managers.

The shares are being offered under a shelf registration statement filed with the Securities and Exchange Commission on February 27, 2025, which became automatically effective. All shares in the offering will be sold by Cytokinetics.

The South San Francisco-based company develops treatments for cardiac muscle dysfunction. Its approved drug MYQORZO (aficamten) treats adults with symptomatic obstructive hypertrophic cardiomyopathy in the U.S., Europe and China. The company is also developing omecamtiv mecarbil for heart failure with severely reduced ejection fraction and ulacamten for heart failure with preserved ejection fraction.