Start here if you're new
what it is
Cytokinetics makes heart drugs that try to help weakened heart muscle pump better.
how it gets paid
Last year Cytokinetics made $88M in revenue.
why it's growing
Revenue grew 376.6% last year. Revenue jumped 3,530% vs. prior year, but from a very small base.
what just happened
Cytokinetics posted $70M in revenue and still lost $5.04 a share.
At a glance
B+ balance sheet — decent shape, but not bulletproof
70/100 earnings predictability — reasonably predictable
-$5.26 fy2024 eps est
$19M fy2024 rev est
n/a operating margin
xvary composite: 59/100 — below average
What they do
Cytokinetics makes heart drugs that try to help weakened heart muscle pump better.
MYQORZO is already approved in the U.S. and China. The EMA gave it a positive opinion for Europe, with a decision expected in first quarter 2026. That is a real launch runway, not a science slide deck. If you own the stock, you are betting that 1 approved drug and 2 pipeline shots can carry 498 employees farther than the $88M revenue base suggests.
How they make money
$88M
annual revenue · their business grew +376.6% last year
total revenue
$88M
+376.6%
The products that matter
cardiac drug launch
MYQORZO (aficamten)
$17.8M revenue base · launched january 2026
it's the only commercial asset on the page, and $17.8M tells you how early the launch still is. for a $7B company, this product does not need to be good. it needs to get big.
only launch that matters
partnered and other revenue
collaboration & other
$70.2M · 79.8% of current revenue mix
this is where most of the current revenue sits. it pays the bills better than early product sales do, but it is not the franchise investors are assigning a $7B valuation to.
current revenue anchor
pre-commercial drug development
clinical pipeline
$7B valuation support
the pipeline matters because there is no second scaled commercial product yet. with losses of $328M on $88M of revenue, future assets still do a lot of the valuation heavy lifting.
future optionality
Key numbers
$88M
annual revenue
That is tiny next to a $7B market cap, which means the stock is priced for a much bigger launch.
-$5.26
FY2024 EPS
The company lost more than five dollars per share, so launch execution matters more than tidy margins.
$1.2B
long debt
Debt is bigger than last year's revenue, so the balance sheet is not a side story.
0.95
beta
The stock moves a bit less than the market, but drug news still runs the tape.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 10 / 100
- long-term debt $1.2B (14% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CYTK right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Cytokinetics posted $70M in revenue and still lost $5.04 a share.
Revenue jumped 3,530% vs. prior year, but from a very small base. The business is still burning money, which is normal for a launch-phase biotech and ugly for your patience.
$70M
revenue
-$5.04
eps
3530%
revenue growth
the number that mattered
The $70M print matters because it proves the launch is real, even though the company still lost $5.04 a share.
source: company earnings report
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is MYQORZO launch failure. this company has one commercial product, and the current numbers do not leave much room for a slow start.
med
MYQORZO does not convert the science into prescriptions
Management is targeting more than 50% share of new eligible patients in 2026. If uptake lands well below that, the market has to revalue CYTK as a biotech with promise, not proof.
This directly pressures the only commercial asset and leaves $17.8M of current product revenue looking far too small for a $7B market cap.
med
losses stay enormous for longer than investors expect
A -372.5% margin means the company lost $328M on $88M of revenue. That can be tolerated during a launch. It gets harder to tolerate if the launch does not quickly bend the curve.
Sustained losses at anything close to this scale would keep capital needs front and center even with a B+ balance sheet and $1.2B of debt.
med
the business stays dependent on non-core revenue longer than planned
Collaboration and other revenue is $70.2M versus $17.8M from MYQORZO. If that mix does not shift, the company remains more pipeline-funded than product-led.
That would expose most of the current revenue base to sources investors do not value as richly as durable drug sales.
A stumble here does not hit one product line. it hits the whole thesis, because one launch still carries most of the valuation burden.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings
Analysts expect EPS of -$1.55 on revenue of $16.18M on may 6, 2026. this is the first read on whether launch costs are being matched by real commercial traction.
launch curve
MYQORZO share of new eligible patients
Management's bar is more than 50% share in 2026. that is the commercial scoreboard, and it matters more than polished conference slides.
calendar
leerink 2026 global healthcare conference
Any update on launch metrics, physician adoption, or payer friction matters because the market still has very little real-world selling data to work with.
cash burn
whether losses start narrowing from the current -$328M level
You do not need profitability tomorrow. you do need evidence that commercial scale can eventually outrun launch spend.
Analyst rankings
earnings predictability
70 / 100
reasonable for biotech, but in human-speak, expect estimates to move when launch data changes.
risk rank
2
safer than 80% of stocks on this system's balance-sheet lens. that does not make the equity thesis safe.
beta
0.95
beta measures market sensitivity. in plain English: CYTK has traded roughly with the market on paper, even though launch-stage biotech risk is much more company-specific.
source: institutional data
Institutional activity
institutional ownership data for CYTK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$66
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive