Cytokinetics Up on Positive Tirasemtiv Data
Cytokinetics Incorporated’s (CYTK) shares jumped over 7% on Jul 11 after it announced that additional results from the BENEFIT-ALS (Blinded Evaluation of Neuromuscular Effects and Functional Improvement with Tirasemtiv in ALS) study on tirasemtiv were presented at the 13th International Congress on Neuromuscular Diseases in Nice last week.
Tirasemtiv is being developed for the treatment of patients suffering from amyotrophic lateral sclerosis (ALS.TO). Additional data revealed that a statistically significant reduction in Slow Vital Capacity (SVC.TO) decline was observed in the tirasemtiv treatment group compared to those under placebo across all subgroups of patients with ALS.
However, the additional results on tirasemtiv might not provide the much sought after respite for Cytokinetics. The company stated that it is still evaluating the data from the BENEFIT-ALS study for the future pathway of the candidate. We remind investors that earlier in the year, Cytokinetics announced that tirasemtiv failed to meet its primary endpoint in the BENEFIT-ALS study. The company’s shares nosedived 64.7% after the announcement. (Read: Cytokinetics' Tirasemtiv Misses Primary Endpoint)
As far as Cytokinetics’ pipeline is concerned, the road so far has been disappointing. Last year, Cytokinetics and Amgen’s (AMGN) omecamtiv mecarbil failed to meet its primary endpoint in a phase II study. The study evaluated the safety, pharmacokinetics, pharmacodynamics and efficacy of an intravenous formulation of omecamtiv mecarbil in patients hospitalized with acute heart failure.
Needless to say, Cytokinetics badly needs its pipeline to deliver in order to drive growth. We expect investor focus to stay on the company’s decision on tirasemtiv’s future pathway.
Cytokinetics currently carries a Zacks Rank #1 (Strong Buy). Some other stocks worth considering include Actelion Ltd. (ALIOF) and The Medicines Company (MDCO). Both stocks also carry a Zacks Rank #1.
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