Any possibility that this is why the stock is stuck at current $
Cytokinetics Inc. (CYTK) and Amgen Inc. (AMGN) said results from a mid-stage trial for their experimental drug for acute heart failure failed to meet its primary endpoint.
Shares of Cytokinetics were down 17% to $8.66 in premarket trade. Amgen shares were inactive from a Friday close of $108.94.
The results of the trial, called ATOMIC-AHF, of omecamtiv mecarbil didn't achieve its primary endpoint on shortness of breath response in acute heart failure patients. But the companies noted that the results showed favorable dose and concentration-related trends on shortness of breath response.
"Although ATOMIC-AHF did not achieve its primary efficacy endpoint, we are encouraged by the data from this study," said Sean E. Harper, executive vice president of research and development at Amgen.
Mr. Harper also noted that the data from the phase two trial ATOMIC-AHF, an intravenous method, will be used along with data from the phase two trial of an oral application of omecamtiv mecarbil to determine whether to perform phase three clinical trials with the drug.
The companies in June agreed to expand Amgen's license for omecamtiv mecarbil and related compounds into Japan. Cytokinetics stock jumped then, as indications pointed toward favorable trial results.
Omecamtiv mecarbil is a novel cardiac myosin activator. Cardiac myosin is the cytoskeletal motor protein in the cardiac muscle cell that is directly responsible for converting chemical energy into the mechanical force resulting in cardiac contraction
This CYTK-AMGN drug acts completely differently...it is a heart muscle stimulater..probably does not work, because frequently the problem in heart failure is a critical percent of the left ventricle has been damaged to the point where it either lacks the strength to pump, or because the ventricle 'squeezes blood out the squeezing sequence is no longer in sync...ie the problem is not motivation...I would be selling both these companies off that info..
Vascepa..is a preventative drug which counters the effects of omega-6s and fast acting cards which are fueling Americans overheated inflammatory systems causing all kinds of diseases including diabetes and CVD.. buy this one..