Cytokinetics, Incorporated (MM) (NASDAQ:CYTK)
Historical Stock Chart
6 Months : From Apr 2018 to Oct 2018
Cytokinetics, Incorporated (Nasdaq:CYTK) and The ALS Association today announced the continuation of their partnership in the fight against ALS. Cytokinetics is renewing its Gold Level Sponsorship of the National Walks to Defeat ALS® and Premier Level National ALS Advocacy Conference Sponsorship as well as Platinum Level Sponsorship for initiatives led by The ALS Association Golden West Chapter, including grant funding for care services for people with ALS in the Bay Area.
“We have enjoyed our longstanding, successful collaboration with The ALS Association and look forward to continuing our partnership to support the ALS community,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “Our shared mission to improve the lives of people living with ALS and for their caregivers motivates and inspires us every day as we also pursue our clinical development program to hopefully bring forward much-needed new therapies.”
In the past year, Cytokinetics has been involved in several initiatives with The ALS Association, including the IMPACT-ALS survey, a collaboration between The ALS Association, Cytokinetics, and other industry partners to better understand the concerns of people living with ALS, as well as other programs focused on better understanding the disease, accelerating the conduct of clinical trials and increasing awareness of ALS. Additionally, later this month representatives from Cytokinetics will attend the National ALS Advocacy Conference along with advocates from across the country to meet with legislators on Capitol Hill.
Cytokinetics also supported local events led by The ALS Association Golden West Chapter. Continuing this tradition, Cytokinetics employees will take part in several community events in the upcoming year, including the “Champions for Care and a Cure” Gala, ALS Awareness Day with the San Francisco Giants, the Every Drop Adds Up campaign, the Napa Valley Ride to Defeat ALS and the South Bay Walk to Defeat ALS.
“We’ve had the pleasure of working closely with Cytokinetics for several years now, and we’re delighted to continue our partnership,” said Calaneet Balas, President and CEO of The ALS Association. “We greatly appreciate their support and ingenuity in drug development as well as their support of initiatives related to awareness, public education and public policy.”
“Cytokinetics’ involvement in chapter events and support of care services demonstrates their dedication and commitment to people living with ALS in the local community, and we’re grateful to continue our partnership with such a great champion for people affected by ALS,” said Fred Fisher, MSW, President and CEO of The ALS Association Golden West Chapter.
Amyotrophic lateral sclerosis (ALS) is a progressive neurodegenerative disease that afflicts approximately 30,000 people in the United States and a comparable number of patients in Europe. Approximately 6,000 new cases of ALS are diagnosed each year in the United States. The average life expectancy of an ALS patient is approximately three to five years after diagnosis and only 10 percent of patients survive for more than 10 years. Death is usually due to respiratory failure because of diminished strength in the skeletal muscles responsible for breathing. Few treatment options exist for these patients, resulting in a high unmet need for new therapies to address functional deficits and disease progression.
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 is collaborating with Amgen Inc. (“Amgen”) to develop omecamtiv mecarbil, a novel cardiac muscle activator. Omecamtiv mecarbil is the subject of GALACTIC-HF, an international Phase 3 clinical trial in patients with heart failure. Amgen holds an exclusive worldwide license to develop and commercialize omecamtiv mecarbil with a sublicense held by Servier for commercialization in Europe and certain other countries. Cytokinetics is collaborating with Astellas Pharma Inc. (“Astellas”) to develop reldesemtiv (CK-2127107), a next-generation fast skeletal muscle troponin activator (FSTA). Reldesemtiv has been granted orphan drug designation by the FDA for the potential treatment of spinal muscular atrophy. Reldesemtiv is the subject of three ongoing Phase 2 clinical trials enrolling patients with spinal muscular atrophy, chronic obstructive pulmonary disease and amyotrophic lateral sclerosis. Astellas is also conducting a Phase 1b clinical trial of reldesemtiv in elderly adults with limited mobility. Astellas holds an exclusive worldwide license to develop and commercialize reldesemtiv. Licenses held by Amgen and Astellas are subject to Cytokinetics' specified co-development and co-commercialization rights. Cytokinetics continues its 20-year history of innovation with three new muscle biology directed compounds advancing from research to development in 2018. For additional information about Cytokinetics, visit www.cytokinetics.com.
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 of Cytokinetics’ product 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 the risks related to Cytokinetics' business outlined in 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:CytokineticsDiane WeiserVice President, Corporate Communications, Investor Relations(650) 624-3060