Commercial Launch InitiativesCytokinetics anticipates ~$729M in net proceeds from the convertible note offering, supporting aficamten commercial launch initiatives and other R&D milestones.
Financial PerformanceCytokinetics executed on a $650M upsized convertible note offering to refinance the majority portion of the 2027 convertible notes into 2031, at an attractive 1.75% coupon rate and conversion price at ~38% premium to $50 share price.
Market Share PotentialCytokinetics shares have rallied ~37% on the heels of a home-run scenario delivered at the ESC'25 conference, supportive of the prospects of aficamten's long-term market share gains within the obstructive hypertrophic cardiomyopathy class.