Cytokinetics Announces Inducement Grants Under NASDAQ Listing Rule 5635(C)(4)

About this update from Cytokinetics, Incorporated

[{"type":"text","content":"SOUTH SAN FRANCISCO, Calif., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that on July 31, 2023 it granted stock options to purchase an aggregate of 60,200 shares of common stock to 3 new employees, whose employment commenced in July 2023, as a material inducement to their employment. The stock options that were granted are subject to an exercise price of $33.35 per share, which is equal to the closing price of the Company’s common stock on July 31, 2023, and will vest over 4 years, with 1/4th of the shares underlying the employee’s option vesting on the one-year anniversary of the applicable vesting commencement date and the remaining shares thereafter vesting monthly at a rate of 1/48th of the shares underlying each employee’s option over the subsequent 36 months, subject to the new employee’s continued service with the Company. Each stock option has a 10-year term and is subject to the terms and conditions of the Company's Amended and Restated 2004 Equity Incentive Plan and the stock option agreement pursuant to which the option was granted. The options were granted as material inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4). About Cytokinetics Cytokinetics is a late-stage, specialty cardiovascular biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which cardiac muscle performance is compromised. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact myocardial muscle function and contractility. Aficamten is a next-in-class cardiac myosin inhibitor, currently the subject of SEQUOIA-HCM, the Phase 3 clinical trial of aficamten in patients with symptomatic obstructive hypertrophic cardiomyopathy (HCM). Aficamten is also being evaluated in non-obstructive HCM and the company plans to begin a Phase 3 trial later this year. Cytokinetics is also developing omecamtiv mecarbil, a cardiac muscle activator in patients with heart failure. Additionally, Cytokinetics is developing CK-136, a cardiac troponin activator for the potential treatment HFrEF and other types of heart failure, such as right ventricular f...

More updates from Cytokinetics, Incorporated