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Cytokinetics, Incorporated Message Board

  • cryptics73 cryptics73 Feb 17, 2011 12:01 PM Flag

    From CYTK IR

    From CYTK IR department:

    Mr. XXXX:

    Thank you for the email and sharing with us your thoughts. I understand the frustration and can assure you that management is taking this very seriously. John, as we outlined on Monday, we have set forth a definitive plan in terms of the development of our pipeline. Attached is the transcript. And in terms of the stock price we believe that our best efforts are aimed at focusing on finding a partner for CK-357 that would offer a non-dilutive infusion of capital. As we stated on Monday, we had roughly 16 months of cash at the end of December and that is something that may be on investor’s minds.

    So what we can do as a company is progress the pipeline, seek partnerships and outside fundings that are non-dilutive to support these activities before going to the general financial markets. We just completed a series of meetings with former, current and potential investors and we walked away with comments from them that they believed that our pipeline holds a great deal of promise.

    I hope you share this view and thank you for your patience. Please feel free to contact me as needed.


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    • Thanks so much for taking the time to get this response which was refreshingly not sugar coated. Frustrating situation as I'm long from 2.05 in a pretty good size. The company obviously needs to be sold to the highest bidder. At this point I think shareholders would more than likely take any price above
      $3..Sad but true.

    • in for a bounce @ $1.55

    • Get this IR guy tell the development folks, cut out all the nonsense trials.

      Nobody cares if -357 works in MG, don't waste money there. If they want to spend those dollars, upsize the ALS trial so there are enough patients to demonstrate statistical meaning for the results. The PAD trial money is already in the drain. Also, the backup candidate, doesn't make any sense to spend money on it. If -357 dies, so what, the company is practically trading as if -357 is dead already. Spend more money on it just doesn't make any sense.

      Sixteen months of cash since last Dec is nothing; you can't have just six months of cash left then rush for a dilutive finance offering. That means the company will need a dilutive deal before end of the year if they keep spending like this.

      The best way to do is to spend a million dollars, hire some bankers, auction/partner off -357 and the backup. Downside the company once the partnership of -357 is through, keep enough cash on the balance sheet to allow the remaining company to operate for the next 24 months.

      By then, we should know if the Amgen drug works or not, so should the outcome of the -357 over ALS.

      The value of the company is obstructed by the nonsense trials the R&D morons are running. Setting up so many trials as milestones, as some sort of artifical markers so some senior execs can get their year end bonuses, free options is a scam. Investors are seeing that through.

      If you run trials, make sure the trials are meaningful. Don't tell me how many trials you are running, tell me how many trials have given you meaningful results to accelerate the development of the drug through approval process.

      No one cares if they run another phase II ALS with short duration, with too few patients to give any statistical meaning. Why waste money on such nonsense? This is why the stock drop almost 20% since that earnings call.

      If management still not getting it, they should just pack their bags and sell some tacos on the street. Don't waste investors' money here. Get on with it or get lost!

      • 2 Replies to semibittersweet
      • I agree that the cash burn is too high for this company. But we should not lose sight that ALS is a very difficult disease which is why there is nothing out there approved to address the muscleskeltal functioning. The first Phase II trial was an Evidence of Effect trial. They gave patients only 1 shot of the compound and were seeing dose dependent improvements in functioning. Therefore, it is completely necessary to advance to Phase II (multi-dosing). The evidence points to the company seeking a parternship which I think is the right course of action. Maybe they are talking to Amgen who they have already partnered with.

        One thing I like about this company is their systematic approach. Unfortunately, the go-go investor type does not have much patience.

        I suspect those who are afflicted with ALS and other related indications don't think of these trials as nonsense trials.

        I think it would be a poor idea to sell off the company assets at this stage given the efficacy signal in both of their lead clinical compounds

      • Go to their website under investor relations and contact IR. Why spew all your "knowledge" to all of us. Talk to the experts and to those that care.

        I care about my $$ and that's why I contacted them with MY questions. Contact them with your questions!

    • "And in terms of the stock price we believe that our best efforts are aimed at focusing on finding a partner for CK-357 that would offer a non-dilutive infusion of capital."

      another partner ( Amgn no good)?

      BTW What's the email address of Chris? Why not put the transcript online?

    • Cryptics (John)

      Your the kind of message board contributor that makes boards occasionally worthwhile. Thanks for sharing that. Much appreciated.

    • which transcript have they sent to you ?

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