Company: CYTK
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-029206
Chunk: 16

Company: CYTOKINETICS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 16
---
This discussion and analysis should be read in conjunction with our financial statements and accompanying notes included elsewhere in this report. Operating results are not necessarily indicative of results that may occur in future periods.

Overview

We are 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. We have discovered and are developing muscle-directed investigational medicines that may potentially improve the healthspan of people with devastating cardiovascular and neuromuscular diseases of impaired muscle function. Our research and development activities relating to the biology of muscle function have evolved from our knowledge and expertise regarding the cytoskeleton, a complex biological infrastructure that plays a fundamental role within every human cell. As a leader in muscle biology and the mechanics of muscle performance, we are discovering and developing small molecule drug candidates specifically engineered to impact muscle function and contractility with objective to build a sustainable specialty biopharmaceutical business. 

Our clinical-stage drug candidates are: (i) aficamten, a next-in-class cardiac myosin inhibitor, (ii) omecamtiv mecarbil, a novel cardiac myosin activator, (iii) CK-586, an additional cardiac myosin inhibitor, and (iv) CK-089, a novel fast skeletal troponin activator.

For further information regarding our business, refer to Part I, Item 1 (Business) of this Annual Report on Form 10-K.

Liquidity and Capital Resources

Our cash, cash equivalents, and investments and a summary of our borrowings and working capital as of December 31, 2024 and 2023 are summarized as follows (in millions): 

     December 31, 2024

     December 31, 2023

     (In millions)

     Financial assets:

     Cash and cash equivalents
      
     $
     94.9

     $
     113.0

     Short-term investments

     981.2

     501.8

     Long-term investments

     145.1

     40.5

     Total cash, cash equivalents, and marketable securities
      
     $
     1,221.2

     $
     655.3

     Borrowings:

     Term loans, net
      
     $
     104.7

     $
     68.5

     RP OM Loan

     123.0