Cytokinetics, IncorporatedCYTK
NasdaqGS•Healthcare•Biotechnology
Cytokinetics, Incorporated, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel muscle activators and muscle inhibitors as potential treatments for debilitating diseases in the United States. The company markets MYQORZO, a novel, oral, and small molecule cardiac myosin inhibitor for the treatment of symptomatic oHCM. It also develops Aficamten, a novel, oral, and small molecule cardiac myosin inhibitor for the treatment of HCM; and omecamtiv mecarbil, a potential treatment across the continuum of care in heart failure with severely reduced ejection fraction. In addition, the company is involved in developing and Ulacamten, a novel, selective, oral, and small molecule cardiac myosin inhibitor designed to reduce the hypercontractility associated with heart failure with preserved ejection fraction in Phase 1 clinical trials; and CK-089, a fast skeletal muscle troponin activator in Phase 1 clinical trials. Cytokinetics, Incorporated was incorporated in 1997 and is headquartered in South San Francisco, California.
Cytokinetics, Incorporated (CYTK) reported trailing twelve months revenue of $105.81M as of March 2026, a 450.6% increase year-over-year. Quarterly revenue reached $19.36M, reflecting continued top-line momentum.
Cytokinetics, Incorporated reported a TTM net loss of $829.61M, with quarterly EBITDA of $-180.24M. The operating margin expanded from -9856.3% to -948.7%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (-948.7%) and net margin (-1064.5%) indicates significant non-operating expenses or interest burden. Net margin has improved from -10220.1% a year ago, signaling stronger bottom-line efficiency.
CYTK trades at a P/S of 0.1x.
The company reported negative free cash flow of $-151.39M, indicating cash consumption over the period. The balance sheet shows $1.27B in total assets with $247.21M in long-term debt against $-826.57M in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -13012.5%. The business may lack pricing power or face rising costs.'
Limited ROE data for a reliable assessment.
Only 0 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~3276.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 12.8% — significant dilution, likely from stock compensation or capital raises.