Cytokinetics (CYTK) Q1 2026 Earnings
How Did CYTK Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +0.73%.
Did CYTK Beat Earnings? Q1 2026 Results
No. Cytokinetics reported Q1 2026 earnings of $-1.67 a share on May 5, 2026, missing the $-1.63 consensus estimate by 2.3%. Revenue was $19.4M against a $9.1M estimate.
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.
- 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
What Was Cytokinetics's Outlook in Q1 2026?
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
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $19.4M | $1.6M | +1,125.8% |
| Operating Income | −$183.6M | −$223.9M | −18.0% |
| Net Income | −$206.0M | −$284.8M | −27.7% |
CYTK Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.