Cytokinetics Enters Material Definitive Agreement

TL;DR

Cytokinetics just signed a big deal, details TBD.

AI Summary

Cytokinetics, Incorporated announced on November 18, 2024, that it has entered into a Material Definitive Agreement. The filing does not provide specific details about the agreement, such as the counterparty or financial terms, but indicates a significant development for the company.

Why It Matters

This filing signals a significant business transaction for Cytokinetics, which could impact its future operations, partnerships, or financial standing.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and implications of the agreement, warranting a medium risk assessment.

Key Players & Entities

• Cytokinetics, Incorporated (company) — Registrant
• November 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value CYTK The Nasdaq Global Se

Filing Documents

• cytk-20241118.htm (8-K) — 42KB
• 0000950170-24-128266.txt ( ) — 154KB
• cytk-20241118.xsd (EX-101.SCH) — 24KB
• cytk-20241118_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 18, 2024, Cytokinetics, Incorporated (" Cytokinetics ") entered into a License and Collaboration Agreement (the " License Agreement ") with Bayer Consumer Care AG, a member of the Bayer Group (" Bayer "), pursuant to which Cytokinetics granted to Bayer an exclusive license to develop and commercialize Cytokinetics' proprietary small molecule cardiac sarcomere inhibitor known as aficamten (the " Product ") in Japan. Bayer's exclusive development license is subject to Cytokinetics' reserved rights to conduct the ACACIA-HCM and CEDAR-HCM clinical trials in connection to the Product in Japan with cooperation from Bayer. Under the terms of the License Agreement, Cytokinetics will receive an upfront payment of 50 million from Bayer. Cytokinetics is eligible to receive additional milestone payments from Bayer totaling up to 90 million upon the Product's achievement of certain clinical trial and commercial launch-based milestones with respect to obstructive or non-obstructive hypertrophic cardiomyopathy. Cytokinetics will also be eligible to receive from Bayer commercial milestone payments totaling up to 490 million upon the achievement by Bayer of certain net sales milestones and tiered royalties on its net sales in Japan at tiered royalty rates ranging from the high teens to the low thirty percents, subject to certain reductions for generic competition, expiration of certain patents and payments for licenses to third-party patents, until the latest of the expiration of certain patents, the expiration of regulatory exclusivity for the Product in Japan, and the end of a minimum specified term. With the exception of the ACACIA-HCM and CEDAR-HCM clinical trials, which Cytokinetics retains the right to conduct in Japan with cost-reimbursement and cooperation from Bayer, Bayer will be responsible for the development, and commercialization of the Product in Japan at its own cost. Bayer is required to use com

SIGNATURES

SIGNATURES 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. CYTOKINETICS, INCORPORATED Date: November 19, 2024 By: /s/ John O. Faurescu John O. Faurescu, Esq. Vice President, Associate General Counsel & Secretary

View Full Filing

View this 8-K filing on SEC EDGAR