Cytokinetics Heart Drug Moves to Late-Stage Development
September 01 2016 - 11:35AM
Dow Jones News
By Joshua Jamerson
Cytokinetics Inc.'s heart-failure treatment drug will advance to
late-stage clinical development, the company said Thursday, after
spending roughly a decade in the middle stage.
The decision to proceed to Phase III development, which is
expected to happen during the fourth quarter, follows results
announced in 2015 from a study that showed the drug, omecamtiv
mecarbil, demonstrated improvements in some measures of cardiac
function.
Cytokinetics's partner Amgen Inc. holds an exclusive license
world-wide to develop and commercialize the drug. The Phase III
trial will be conducted by Amgen in collaboration with
Cytokinetics.
Shares of Cytokinetics fell 7.8% to $11.13 in morning trading in
New York.
Omecamtiv mecarbil is a heart failure treatment that acts on the
heart muscle to lengthen its contraction time and improve cardiac
output. It is being developed for patients with chronic heart
failure.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
September 01, 2016 11:20 ET (15:20 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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