Cytokinetics Added to Nasdaq Biotechnology Index
December 16 2016 - 4:30PM
Cytokinetics (Nasdaq:CYTK) today announced it has been selected for
addition to the Nasdaq Biotechnology Index (Nasdaq:NBI). The
addition will take effect as part of the annual re-ranking of the
NBI upon market open on Monday, December 19, 2016.
Companies in the NBI must meet eligibility
requirements, including minimum market capitalization, average
daily trading volume, and seasoning as a public company, among
other criteria. The index is evaluated semi-annually in May and
November and serves as the basis for the iShares NASDAQ
Biotechnology Index Fund. The Index is designed to track the
performance of a set of securities listed on the NASDAQ Stock
Market that are classified as either biotechnology or
pharmaceutical according to the Industry Classification Benchmark
(ICB). For more information about the NASDAQ Biotechnology Index,
including eligibility criteria, visit
https://indexes.nasdaqomx.com.
About Cytokinetics
Cytokinetics is a late-stage biopharmaceutical
company focused on discovering, developing and commercializing
first-in-class muscle activators as potential treatments for
debilitating diseases in which muscle performance is compromised
and/or declining. As a leader in muscle biology and the mechanics
of muscle performance, the company is developing small molecule
drug candidates specifically engineered to increase muscle function
and contractility. Cytokinetics’ lead drug candidate is tirasemtiv,
a fast skeletal muscle troponin activator, for the potential
treatment of ALS. Tirasemtiv has been granted orphan drug
designation and fast track status by the U.S. Food and Drug
Administration and orphan medicinal product designation by the
European Medicines Agency for the potential treatment of ALS.
Cytokinetics retains the right to develop and commercialize
tirasemtiv, subject to an option held by Astellas Pharma Inc.
Cytokinetics is also collaborating with Astellas to develop
CK-2127107, a fast skeletal muscle activator, for the potential
treatment of spinal muscular atrophy, chronic obstructive pulmonary
disease and ALS. Cytokinetics is collaborating with Amgen Inc. to
develop omecamtiv mecarbil, a novel cardiac muscle activator, for
the potential treatment of heart failure. Amgen holds an exclusive
license worldwide to develop and commercialize omecamtiv mecarbil
and Astellas holds an exclusive license worldwide to develop and
commercialize CK-2127107. Both licenses are subject to
Cytokinetics' specified development and commercialization
participation rights. For additional information about
Cytokinetics, visit http://www.cytokinetics.com/.
Forward-Looking Statements
This press release contains forward-looking
statements for purposes of the Private Securities Litigation Reform
Act of 1995 (the “Act”). Cytokinetics disclaims any intent or
obligation to update these forward-looking statements, and claims
the protection of the Act’s Safe Harbor for forward-looking
statements. Examples of such statements include, but are not
limited to, statements relating to Cytokinetics’ and its partners’
research and development activities, including the initiation,
conduct, design, enrollment, progress, continuation, completion and
results of clinical trials, the significance and utility of
preclinical study and clinical trial results, the expected
availability of clinical trial results; planned interactions with
regulatory authorities and the outcomes of such interactions,
including our discussions with the FDA regarding the key elements
of GALACTIC-HF and the potential for a SPA; the significance and
utility of preclinical study and clinical trial results; the
potential benefits of Cytokinetics’ expanded collaboration with
Astellas; the expected timing of events; and the properties and
potential benefits of Cytokinetics’ drug candidates. Such
statements are based on management's current expectations, but
actual results may differ materially due to various risks and
uncertainties, including, but not limited to further clinical
development of tirasemtiv in ALS patients which will require
significant additional funding, and Cytokinetics may be unable to
obtain such additional funding on acceptable terms, if at all; the
FDA and/or other regulatory authorities may not accept effects on
slow vital capacity as a clinical endpoint to support registration
of tirasemtiv for the treatment of ALS; potential difficulties or
delays in the development, testing, regulatory approvals for trial
commencement, progression or product sale or manufacturing, or
production of Cytokinetics’ drug candidates that could slow or
prevent clinical development or product approval, including risks
that current and past results of clinical trials or preclinical
studies may not be indicative of future clinical trials results;
patient enrollment for or conduct of clinical trials may be
difficult or delayed; the FDA or foreign regulatory agencies may
delay or limit Cytokinetics’ or its partners’ ability to conduct
clinical trials; Amgen’s and Astellas’ decisions with respect to
the design, initiation, conduct, timing and continuation of
development activities for omecamtiv mecarbil and CK-2127107,
respectively; Cytokinetics may incur unanticipated research and
development and other costs or be unable to obtain additional
financing necessary to conduct development of its products;
Cytokinetics may be unable to enter into future collaboration
agreements for its drug candidates and programs on acceptable
terms, if at all; standards of care may change, rendering
Cytokinetics’ drug candidates obsolete; and competitive products or
alternative therapies may be developed by others for the treatment
of indications Cytokinetics’ drug candidates and potential drug
candidates may target. For further information regarding these and
other risks related to Cytokinetics’ business, investors should
consult Cytokinetics’ filings with the Securities and Exchange
Commission. Forward-looking statements are not guarantees of future
performance, and Cytokinetics' actual results of operations,
financial condition and liquidity, and the development of the
industry in which it operates, may differ materially from the
forward-looking statements contained in this press release. Any
forward-looking statements that Cytokinetics makes in this press
release speak only as of the date of this press release.
Cytokinetics assumes no obligation to update its forward-looking
statements whether as a result of new information, future events or
otherwise, after the date of this press release.
Contact:
Cytokinetics
Diane Weiser
Vice President, Corporate Communications, Investor Relations
(415) 290-7757
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