Companies /Healthcare

Cytokinetics Inc

NASDAQ: CYTK Biotechnology
$71.40
▲ $0.49 (+0.69%) today
Markets closed · 10:17pm ET

Q1 2026 Earnings

Reported May 5, 2026, 4:05pm ET · SEC source
$-1.67
Miss −2.31%
EPS · est. $-1.63
$19.4M
Beat +113.25%
Revenue · est. $9.1M
−10.0%
Trailing market
CYTK vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0May 5May 6report 4:05pm ETearnings+1.3%−3.3%
−6%−3%0May 5May 6earnings+1.3%−3.3%
CYTK −3.3%S&P 500 +1.3%
−6%−3%0May 5May 6report 4:05pm ETearnings+1.9%−3.3%
−6%−3%0May 5May 6earnings+1.9%−3.3%
CYTK −3.3%NASDAQ +1.9%
−12%−6%0+6%May 4May 13report 4:05pm ETearnings+2.4%+0.6%
−12%−6%0+6%May 4May 13earnings+2.4%+0.6%
CYTK +0.6%S&P 500 +2.4%
−12%−6%0+6%May 4May 13report 4:05pm ETearnings+4.6%+0.6%
−12%−6%0+6%May 4May 13earnings+4.6%+0.6%
CYTK +0.6%NASDAQ +4.6%
−2.92%
Day of report
−0.73%
Next session
+3.18%
One week
−9.27%
30 days

S&P 500 over the same 30 days: +0.73%.

Did CYTK Beat Earnings? Q1 2026 Results

Cytokinetics delivered a sharply mixed first quarter for fiscal 2026, with a dramatic revenue beat offset by a slight earnings miss as the company's newly launched heart drug MYQORZO began generating commercial traction. Revenue surged to $19.36 million, a 1,125.8% increase from $1.58 million a year ago, well ahead of the $9.08 million consensus estimate, driven by $4.79 million in early MYQORZO product sales across roughly nine weeks on the market, a $11.93 million license milestone triggered by that first U.S. sale under the Bayer agreement, and $2.64 million in collaboration revenues. However, the company posted a loss per share of $1.67, just shy of the $1.63 consensus estimate, as SG&A expenses nearly doubled to $104.90 million from $57.37 million to support the commercial launch. Looking ahead, the company maintained its full-year combined R&D and SG&A expense guidance of $830 million to $870 million, while analysts have meaningfully lifted their 2026 revenue forecasts following positive Phase 3 data in non-obstructive HCM and a $700 million equity raise that extended the company's financial runway.

Key Takeaways
  • Strong initial U.S. launch of MYQORZO with over 275 prescribing HCPs and approximately 680 patients in first partial quarter
  • $11.9 million milestone payment from Bayer tied to first U.S. sale of MYQORZO
  • Over 70% of patients on paid prescriptions indicating favorable payer coverage
  • Over 1,400 HCPs REMS certified as of March 31, 2026

“The U.S. launch of MYQORZO commenced strongly in late January and continues to accelerate. We promptly activated a solid prescriber base of early adopters and are encouraged by initial commercial metrics that are exceeding our expectations.”

Cytokinetics CEO, on the earnings call

Forward Guidance & Outlook

Cytokinetics maintained its full-year 2026 financial guidance for GAAP combined R&D and SG&A expenses of $830 million to $870 million, including $120 million to $130 million in non-cash stock-based compensation. This guidance excludes collaboration expenses, potential costs related to commercialization of aficamten in non-obstructive HCM, and GAAP adjustments from subsequent events including business development activities. The company expects to launch MYQORZO in Germany in Q2 2026, complete adolescent cohort enrollment in CEDAR-HCM in Q4 2026, and has a PDUFA date of November 14, 2026 for the MAPLE-HCM supplemental NDA. Patient enrollment in COMET-HF (omecamtiv mecarbil) is expected to continue through 2026, and AMBER-HFpEF Cohort 1 enrollment (ulacamten) is expected to complete in H2 2026.

CYTK YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$-270,000,000$-180,000,000$-90,000,000$0$1.6M$19.4MRevenue$-223,869,788$-183,618,000Operating Income$-284,848,611$-206,031,000Net Income
$-270,000,000$-180,000,000$-90,000,000$0RevenueOperating IncomeNet Income

CYTK Revenue by Segment

Net Product Revenue (MYQORZO)$4.8M
License and Milestone Revenues$11.9M
Collaboration Revenues$2.6M

Figures from SEC filings and company reports. Not investment advice.