Cytokinetics, Inc. (CYTK): Amgen will make a $26.7 million mileston...

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Thursday, 12/01/2016 4:27:19 PM

Thursday, December 01, 2016 4:27:19 PM

Amgen will make a $26.7 million milestone payment to Cytokinetics.

Company Earns $26.7 Million Milestone Payment from Amgen

SOUTH SAN FRANCISCO, Calif., Dec. 01, 2016 (GLOBE NEWSWIRE) -- Cytokinetics, Inc. (Nasdaq:CYTK) today announced the activation of the first clinical site and the start of GALACTIC-HF (Global Approach to Lowering Adverse Cardiac Outcomes Through Improving Contractility in Heart Failure), the Phase 3 cardiovascular outcomes clinical trial of omecamtiv mecarbil which is being conducted by Amgen, in collaboration with Cytokinetics. Coincident with the start of the trial, Amgen will make a $26.7 million milestone payment to Cytokinetics. In clinical studies, omecamtiv mecarbil, a novel investigational cardiac myosin activator, has been shown to enhance cardiac function by increasing cardiac contractility and is being developed for the potential treatment of patients with chronic heart failure.