CYTOKINETICS Q2 FY26 earnings call CYTK

Cytokinetics reported strong commercial momentum for MYQORZO in the U.S., exceeding expectations just five months post-launch. New-to-brand prescriptions in the CMI category accelerated by 15% in Q2 FY26, contributing to an exit share of over 40% by quarter-end. Over 700 unique HCPs have prescribed MYQORZO, with 50% being low-volume or first-time CMI writers, indicating broadening adoption. The majority of dispensed prescriptions (over 80%) were paid for, reflecting increasing patient access and adoption.

The company initiated its first European launch of MYQORZO in Germany in June, with initial inventory purchases contributing $2.3 million in net product revenues. Further global expansion was highlighted by the MHRA granting Marketing Authorization and NICE recommending MYQORZO for use in England and Wales, with drug supply and full launch expected later in FY26. Cytokinetics is also pursuing additional market access globally, including submitting 10 HTA dossiers across Europe and securing reimbursement approval in the Netherlands.

Aficamten demonstrated significant potential in nonobstructive HCM (nHCM) with positive top-line results from the pivotal Phase III ACACIA-HCM trial. The study met both dual primary endpoints, showing statistically significant improvements in KCCQ Clinical Summary Score and Peak VO2 at week 36 compared to placebo. These results, which identified no new safety signals, support a plan to submit a supplemental NDA for aficamten in nHCM to the FDA in Q4 FY26, with similar discussions planned for European regulators.

The sNDA for aficamten in obstructive HCM (oHCM), based on MAPLE-HCM data, remains under FDA review with a PDUFA date of November 14, 2026. The company believes MAPLE-HCM results have the potential to inform treatment guidelines and support aficamten's use as an earlier treatment option. Field medical teams are actively sharing these results with prescribers, reinforcing the drug's efficacy and safety profile consistent with its current labeling.

Cytokinetics continues to advance its later-stage specialty cardiology pipeline. Enrollment for omecamtiv mecarbil in the COMET-HF Phase III trial is over one-third complete, with additional sites in China activated. For ulacamten, enrollment in Cohort 1 of the AMBER-HFpEF Phase II study is progressing towards completion in H2 FY26. The company also announced the promotion of Steve Heitner to Chief Medical Officer, recognizing his contributions to aficamten's development and clinical research.

The company ended Q2 FY26 with a strong cash and investments balance of approximately $1.7 billion, up from $1.1 billion in Q1 FY26, primarily due to a May public offering that generated $760 million in net proceeds. This financial flexibility supports the global commercialization of MYQORZO and continued investment across the pipeline to enhance long-term shareholder value. Full-year 2026 GAAP combined R&D and SG&A expense guidance was updated to $860 million to $890 million, reflecting increased commercial readiness for nHCM.