Cytokinetics Secures Up to $575M from Royalty Pharma, Dimming Buyout Hopes
TL;DR
Cytokinetics CEO Robert Blum faces criticism for raising $500 million at $51 per share, which devalues the stock and aficamtem's potential. Additionally, the decision to revive the heart failure drug omecamtiv and the unfavorable terms of the Royalty Pharma loan are seen as poor management choices.
Topics:businessbusinessfinance#aficamtem#businessfinance#cytokinetics#financing#omecamtiv#robert-blum
- Cytokinetics CEO Robert Blum is on my Worst CEO shortlist again, and other thoughts STAT
- Cytokinetics sells Royalty Pharma a share of its heart drug for up to $575 million, lowering hopes of a buyout STAT
- Investors say 'no bueno' as Cytokinetics stymies M&A prospects with complex Royalty deal Fierce Biotech
- Cytokinetics to get up to $575M in funding from Royalty Pharma (NASDAQ:CYTK) Seeking Alpha
- Cytokinetics and Royalty Pharma Announce Expanded Strategic Funding Collaboration Totaling Up to $575 Million to Support Commercial Launch of Aficamten and to Advance R&D Pipeline GlobeNewswire
Want the full story? Read the original reporting
Read on STAT