Current Report Filing (8-k)
December 07 2020 - 7:30AM
Edgar (US Regulatory)
0001061983 False 0001061983 2020-12-07 2020-12-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 2020
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Cytokinetics, Incorporated
(Exact name of registrant as specified in its charter)
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Delaware
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000-50633
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94-3291317
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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280 East Grand Avenue
South San Francisco, California 94080
(Address of Principal Executive Offices) (Zip Code)
(650) 624-3000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_______________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.001
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CYTK
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On December 7, 2020, Cytokinetics, Incorporated (“Cytokinetics”
or the “Registrant”) announced that additional results from GALACTIC-HF (Global Approach to Lowering
Adverse Cardiac Outcomes Through Improving Contractility in Heart Failure), the
Phase 3 event-driven cardiovascular outcomes clinical trial of omecamtiv mecarbil, were presented by John Teerlink, M.D.,
Professor of Medicine, University of California San Francisco, Director of Heart Failure, San Francisco Veterans Affairs Medical
Center and Executive Committee Chair, GALACTIC-HF, at the 17th Global Cardiovascular Clinical Trialists Forum (CVCT).
GALACTIC-HF: Supplemental Analyses
GALACTIC-HF enrolled 8,256 patients who were at risk of hospitalization
and death, despite being well treated on standard of care therapy. As previously reported, after a median duration of follow-up
of 21.8 months, the trial demonstrated a statistically significant effect of treatment with omecamtiv mecarbil to reduce
risk of the primary composite endpoint of heart failure events (heart failure hospitalization and other urgent treatment for heart
failure) or cardiovascular (CV) death compared to placebo in patients treated with standard of care (hazard ratio, 0.92; 95% confidence
interval [CI] 0.86, 0.99; p=0.025). No reduction in the secondary endpoint of time to CV death was observed in the overall population1.
The effect of omecamtiv mecarbil on the primary composite endpoint
in GALACTIC-HF was consistent across most prespecified subgroups and with a potentially greater treatment effect suggested in patients
with a lower left ventricular ejection fraction (LVEF ≤28%, n=4,456, hazard ratio, 0.84; 95% CI 0.77, 0.92; interaction p=0.003).
Supplemental analyses of this lower ejection fraction subgroup in GALACTIC-HF presented at CVCT showed that this potentially greater
treatment effect in patients who received omecamtiv mecarbil was consistently observed in patients with characteristics
that may indicate advanced heart failure status, such as being hospitalized within the last 3 months (HR 0.83, 95% CI 0.74 –
0.93, p=0.001), having New York Association Class III or IV heart failure (HR 0.80, 95% CI 0.71 – 0.90, p<0.001), higher
N-terminal-pro brain natriuretic peptide levels (HR 0.77, 95% CI 0.69 – 0.87, p<0.001), and lower blood pressures (HR
0.81, 95% CI 0.70 – 0.92, p=0.002). The absolute risk reductions (ARR) ranged from 5.2% to 8.1% in these subgroups as compared
to the ARR of 2.1% observed in the overall population.
Additionally, a supplemental analysis of the continuous relationship
between ejection fraction and the hazard ratio for the primary composite endpoint in GALACTIC-HF suggested a potentially stronger
treatment effect of omecamtiv mecarbil in patients with increasingly lower ejection fractions.
GALACTIC-HF: Trial Design And Primary Results
GALACTIC-HF,2 (Global Approach to Lowering Adverse Cardiac
Outcomes Through Improving Contractility in Heart Failure), one of the largest Phase 3 global cardiovascular outcomes studies in
heart failure ever conducted, enrolled 8,256 patients in 35 countries across 945 sites with HFrEF, New York Heart Association (NYHA)
class II-IV, left ventricular ejection fraction (LVEF) ≤35%, elevated natriuretic peptides and either current hospitalization
for heart failure or history of hospitalization or emergency department visit for heart failure within a year. Patients were randomized
to either oral placebo or a starting dose of 25 mg omecamtiv mecarbil twice daily (maintenance dose of 50 mg, 37.5 mg, or
25 mg twice daily) guided by pharmacokinetic-guided dose selection. A blood test, the QMS Omecamtiv Mecarbil Immunoassay
(the OM Test) was used to measure plasma levels of omecamtiv mecarbil in each patient in order to guide selection of the
appropriate maintenance dose.
The primary composite endpoint of this double-blind, placebo-controlled,
event-driven trial was time to CV death or first heart failure event (heart failure hospitalization and other urgent treatment
for heart failure). Secondary endpoints were: time to CV death, patient reported outcomes (measured by Kansas City Cardiomyopathy
Questionnaire [KCCQ] Total Symptom Score [TSS]), time to first heart failure hospitalization and time to all-cause death. A first
primary endpoint event occurred in 1,523 of 4,120 patients (37.0%) in the omecamtiv mecarbil group and in 1,607 of 4,112
patients (39.1%) in the placebo group (hazard ratio, 0.92; 95% confidence interval [CI] 0.86, 0.99; p=0.025). No reduction in the
secondary endpoint of time to CV death was observed in the overall population. The effect on the primary endpoint was observed
without evidence of an increase in the overall rates of myocardial ischemic events, ventricular arrhythmias or death from cardiovascular
or all causes.
About Omecamtiv Mecarbil and the Phase 3 Clinical Trials Program
Omecamtiv mecarbil is an investigational selective cardiac myosin
activator, the first of a novel class of myotropes3 designed to directly target the contractile mechanisms of the heart,
binding to and recruiting more cardiac myosin heads to interact with actin during systole. Preclinical research has shown that
omecamtiv mecarbil increases cardiac contractility without increasing intracellular myocyte calcium concentrations or myocardial
oxygen consumption.4-6 Cardiac myosin is the cytoskeletal motor protein in the cardiac muscle cell that is directly
responsible for converting chemical energy into the mechanical force resulting in cardiac contraction.
Omecamtiv mecarbil is being developed for the potential treatment
of heart failure with reduced ejection fraction (HFrEF) and is the subject of a comprehensive Phase 3 clinical trials program composed
of GALACTIC-HF and METEORIC-HF (Multicenter Exercise Tolerance Evaluation of Omecamtiv Mecarbil Related to Increased Contractility
in Heart Failure), a Phase 3 clinical trial designed to evaluate the effect of treatment with omecamtiv mecarbil compared
to placebo on exercise capacity.
About Heart Failure
Heart failure is a grievous condition that affects more than 64 million
people worldwide7 about half of whom have reduced left ventricular function.8,9 It is the leading cause
of hospitalization and readmission in people age 65 and older.10, 11 Despite broad use of standard treatments and advances
in care, the prognosis for patients with heart failure is poor.12 An estimated one in five people over the age of 40
are at risk of developing heart failure, and approximately 50 percent of people diagnosed with heart failure will die within five
years of initial hospitalization.13,14
About Cytokinetics
Cytokinetics is a late-stage biopharmaceutical company focused on discovering,
developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors 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 impact muscle function
and contractility. Cytokinetics is preparing for regulatory interactions for omecamtiv mecarbil, its novel cardiac muscle
activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure.
Cytokinetics is conducting METEORIC-HF, a second Phase 3 clinical trial of omecamtiv mecarbil. Cytokinetics is also developing
CK-274, a next- generation cardiac myosin inhibitor, for the potential treatment of hypertrophic cardiomyopathies (HCM). Cytokinetics
is conducting REDWOOD-HCM, a Phase 2 clinical trial of CK-274 in patients with obstructive HCM. Cytokinetics is also developing
reldesemtiv, a fast skeletal muscle troponin activator for the potential treatment of ALS and other neuromuscular indications
following conduct of FORTITUDE-ALS and other Phase 2 clinical trials. The company is considering potential advancement of reldesemtiv
to Phase 3 pending ongoing regulatory interactions. Cytokinetics continues its over 20-year history of pioneering innovation in
muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness.
For additional information about Cytokinetics, visit www.cytokinetics.com
and follow us on Twitter, LinkedIn, Facebook and YouTube.
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 the GALACTIC-HF clinical trial; statements relating
to the METEORIC-HF clinical trial; the potential benefits of omecamtiv mecarbil, including its ability to represent
a novel therapeutic strategy to increase cardiac muscle function and restore cardiac performance; the potential approval of
omecamtiv mecarbil by the FDA or any other regulatory authority and the timing of such approvals; Cytokinetics' and
its partners' research and development activities; the design, timing, results, significance and utility of preclinical and clinical
results; and the properties and potential benefits of Cytokinetics' other 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, 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; Cytokinetics' drug candidates may have adverse side effects or inadequate therapeutic
efficacy; the FDA or foreign regulatory agencies may delay or limit Cytokinetics' or its partners' ability to conduct
clinical trials; Cytokinetics may be unable to obtain or maintain patent or trade secret protection for its intellectual
property; standards of care may change, rendering Cytokinetics' drug candidates obsolete; competitive products or alternative
therapies may be developed by others for the treatment of indications Cytokinetics' drug candidates and potential drug
candidates may target; and risks and uncertainties relating to the timing and receipt of payments from its partners, including
milestones and royalties on future potential product sales under Cytokinetics' collaboration agreements with such partners.
For further information regarding these and other risks related to Cytokinetics' business, investors should consult Cytokinetics' filings
with the Securities and Exchange Commission.
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Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Communications,
Investor Relations
(415) 290-7757
References
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1.
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Teerlink J et al. NEJM. 2020
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2.
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Teerlink JR., Diaz R., Felker GM., et al. Omecamtiv Mecarbil in
Chronic Heart Failure With Reduced Ejection Fraction: Rationale and Design of GALACTIC-HF. JACC Heart Fail. 2020
Apr; 8(4):329-340. doi: 10.1016/j.jchf.2019.12.001.Epub 2020 Feb 6.
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3.
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Psotka MA, Gottlieb SS, Francis GS et al. Cardiac Calcitropes, Myotropes,
and Mitotropes. JACC. 2019; 73:2345-53.
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4.
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Planelles-Herrero VJ, Hartman JJ, Robert-Paganin J. et al.
Mechanistic and structural basis for activation of cardiac myosin force production by omecamtiv mecarbil. Nat Commun.
2017;8:190.
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5.
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Shen YT, Malik FI, Zhao X, et al. Improvement of cardiac function
by a cardiac myosin activator in conscious dogs with systolic heart failure. Circ Heart Fail. 2010; 3: 522-27.
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6.
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Malik FI, Hartman JJ, Elias KA, Morgan BP, Rodriguez H, Brejc K,
Anderson RL, Sueoka SH, Lee KH, Finer JT, Sakowicz R. Cardiac myosin activation: a potential therapeutic approach for systolic
heart failure. Science. 2011 Mar 18;331(6023):1439-43.
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7.
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James et al. GBD 2017 Disease and Injury Incidence and Prevalence
Collaborators. Lancet 2018; 392: 1789–858.
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8.
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Yancy CW, Jessup M, Bozkurt B, et al. 2013 ACCF/AHA Guideline for
the Management of Heart failure: A Report of the American College of Cardiology Foundation/American Heart Association Task
Force on Practice Guidelines. Circulation. 2013;128:e240-e327.
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9.
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Ponikowski P, Voors AA, Anker SD, et al. 2016
ESC guidelines for the diagnosis and treatment of acute and chronic heart failure: The Task Force for the diagnosis and treatment
of acute and chronic heart failure of the European Society of Cardiology (ESC). Developed with the special contribution
of the Heart Failure Association (HFA) of the ESC. Eur Heart J. 2016;37:2129–2200.
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10.
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Roger VL. Epidemiology of Heart Failure. Circulation Research.
2013;113:646-659, originally published August 29, 2013. Doi: 10.1161/CIRCRESAHA.113.300268.
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11.
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Kilgore M, Patel HK, Kielhorn A et al. Economic burden of hospitalizations
of Medicare beneficiaries with heart failure. Risk Manag Healthc Policy. 2017; 10: 63-70.
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12.
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Jhund PS, MacIntyre K, Simpson CR, et al. Long-Term Trends in First
Hospitalization for Heart Failure and Subsequent Survival Between 1986 and 2003. Circulation. 2009;119:515-523.
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13.
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Benjamin EJ, Virani SS, Callaway CW et al. Heart Disease and Stroke
Statistics—2018 Update: A Report From the American Heart Association. Circulation. 2018;137:e67-e492.
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14.
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Roger VL, Weston SA, Redfield MM, et al. Trends in Heart Failure
Incidence and Survival in a Community-Based Population. JAMA. 2004;292:344-350.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Cytokinetics, Incorporated
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Date: December 7, 2020
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By:
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/s/ Ching Jaw
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Ching Jaw
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Senior Vice President, Chief Financial Officer
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