Cytokinetics Reaffirms 2026 Expense Guidance After MYQORZO Ramp

The Tip Desk · November 5, 2026 · 3 min read

MYQORZO net product revenue reached $44.5 million in the third quarter as the company kept full-year combined R&D and SG&A guidance at $860 million to $890 million.

Cytokinetics, Incorporated (CYTK), a specialty cardiovascular biopharmaceutical company, reported MYQORZO (aficamten) net product revenue of $44.5 million in the third quarter of 2026, up from $25 million in the second quarter after $4.8 million in the initial partial quarter of the first quarter.

Total revenues were $47.6 million, including $43.1 million of U.S. MYQORZO net product revenue, $1.4 million from Europe reflecting Germany, and $3.1 million of collaboration revenue.

President and Chief Executive Officer Robert I. Blum said the U.S. launch continued to build momentum with growing adoption across a broadening base of prescribers. Year-to-date as of September 30, 2026, nearly 1,100 unique healthcare providers had prescribed MYQORZO and more than 2,800 patients had been dispensed the drug, compared with over 700 providers and about 1,500 patients as of June 30, 2026.

The company said it expects to launch MYQORZO in the United Kingdom in the fourth quarter of 2026 and in additional countries in 2027. MYQORZO received Health Canada authorization and U.K. marketing authorization for symptomatic obstructive hypertrophic cardiomyopathy, and NICE issued guidance recommending aficamten in England and Wales.

Cytokinetics presented positive primary results from ACACIA-HCM, the Phase 3 trial of aficamten in symptomatic non-obstructive hypertrophic cardiomyopathy, at the European Society of Cardiology Congress and published them in the New England Journal of Medicine. Blum said the company believes aficamten has the potential to become the first and only cardiac myosin inhibitor approved across the full spectrum of HCM. The company said it expects to file a supplemental NDA for non-obstructive HCM in the fourth quarter of 2026 and a Type II Variation in the European Union in early 2027.

Selling, general and administrative expenses were $113.1 million in the third quarter, including $19.6 million of non-cash stock-based compensation, compared with $69.5 million a year earlier. The company attributed the increase primarily to external costs associated with the commercial launch of MYQORZO and higher personnel-related costs. Research and development expenses were $99.3 million, including $15.1 million of stock-based compensation, compared with $97.3 million in the year-ago quarter, which the company said was primarily due to higher clinical trial activity and higher personnel-related costs.

Net loss narrowed to $190.1 million, or $(1.37) a share, basic and diluted, from a net loss of $306.2 million, or $(2.55) a share, in the third quarter of 2025. Cost of goods sold related to MYQORZO was a $0.5 million credit, which the company said reflected a credit related to drug supply optimization activities.

Cash, cash equivalents and investments were approximately $1.6 billion as of September 30, 2026, compared with $1.7 billion at June 30, 2026.

The company is reaffirming full-year 2026 GAAP combined R&D and SG&A expense guidance of $860 million to $890 million, with non-cash stock-based compensation of $140 million to $130 million. The guidance does not include the effect of GAAP adjustments from events after publication, including business development activities.

Clinical work continued on omecamtiv mecarbil in COMET-HF, with enrollment expected through 2027, and on Cohort 1 of AMBER-HFpEF, with enrollment expected to complete in the fourth quarter of 2026. CAMELLIA-HCM completed the main study treatment period in Japan, and the adolescent cohort of CEDAR-HCM completed conduct, with topline data expected in early 2027.