$CYTK
CYTOKINETICS INC

2024 Q4 Form 10-Q Financial Statement

#000095017024123283 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $463.0K
YoY Change 22.49%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $56.65M
YoY Change 41.24%
% of Gross Profit
Research & Development $84.61M
YoY Change 2.52%
% of Gross Profit
Depreciation & Amortization $2.411M
YoY Change 29.62%
% of Gross Profit
Operating Expenses $141.3M
YoY Change 15.18%
Operating Profit -$140.8M
YoY Change 15.16%
Interest Expense $8.928M
YoY Change 25.11%
% of Operating Profit
Other Income/Expense, Net $17.05M
YoY Change 149.36%
Pretax Income -$160.5M
YoY Change 24.05%
Income Tax
% Of Pretax Income
Net Earnings -$160.5M
YoY Change 24.05%
Net Earnings / Revenue -34674.95%
Basic Earnings Per Share -$1.36
Diluted Earnings Per Share -$1.36
COMMON SHARES
Basic Shares Outstanding 118.0M 117.7M
Diluted Shares Outstanding 117.7K

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.012B
YoY Change 87.61%
Cash & Equivalents $46.89M
Short-Term Investments $964.8M
Other Short-Term Assets $6.909M
YoY Change -64.93%
Inventory
Prepaid Expenses
Receivables $244.0K
Other Receivables $0.00
Total Short-Term Assets $1.019B
YoY Change 81.43%
LONG-TERM ASSETS
Property, Plant & Equipment $64.22M
YoY Change -15.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $269.2M
YoY Change 1636.57%
Other Assets $7.725M
YoY Change -5.64%
Total Long-Term Assets $417.5M
YoY Change 132.96%
TOTAL ASSETS
Total Short-Term Assets $1.019B
Total Long-Term Assets $417.5M
Total Assets $1.436B
YoY Change 93.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.58M
YoY Change -16.06%
Accrued Expenses $49.83M
YoY Change 51.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $11.52M
YoY Change
Total Short-Term Liabilities $109.8M
YoY Change 41.29%
LONG-TERM LIABILITIES
Long-Term Debt $93.02M
YoY Change 52.77%
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $93.02M
YoY Change 51.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.8M
Total Long-Term Liabilities $93.02M
Total Liabilities $1.450B
YoY Change 22.94%
SHAREHOLDERS EQUITY
Retained Earnings -$2.600B
YoY Change 30.0%
Common Stock $2.532B
YoY Change 64.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$13.91M
YoY Change
Total Liabilities & Shareholders Equity $1.436B
YoY Change 93.9%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$160.5M
YoY Change 24.05%
Depreciation, Depletion And Amortization $2.411M
YoY Change 29.62%
Cash From Operating Activities -$101.5M
YoY Change 5.5%
INVESTING ACTIVITIES
Capital Expenditures $701.0K
YoY Change 218.64%
Acquisitions
YoY Change
Other Investing Activities -$44.35M
YoY Change -160.54%
Cash From Investing Activities -$45.05M
YoY Change -161.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.425M
YoY Change -93.68%
NET CHANGE
Cash From Operating Activities -101.5M
Cash From Investing Activities -45.05M
Cash From Financing Activities 3.425M
Net Change In Cash -143.1M
YoY Change -561.11%
FREE CASH FLOW
Cash From Operating Activities -$101.5M
Capital Expenditures $701.0K
Free Cash Flow -$102.2M
YoY Change 5.98%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001061983
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Current Fiscal Year End Date
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dei Amendment Flag
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dei Document Quarterly Report
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dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
000-50633
dei Entity Registrant Name
EntityRegistrantName
CYTOKINETICS, INCORPORATED
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
94-3291317
dei Entity Address Address Line1
EntityAddressAddressLine1
350 Oyster Point Blvd
dei Entity Address City Or Town
EntityAddressCityOrTown
South San Francisco
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94080
dei City Area Code
CityAreaCode
650
dei Local Phone Number
LocalPhoneNumber
624-3000
dei Security12b Title
Security12bTitle
Common Stock, $0.001 par value
dei Trading Symbol
TradingSymbol
CYTK
dei Security Exchange Name
SecurityExchangeName
NASDAQ
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5557000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
100000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-15000000
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
0
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
0
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-35000
cytk Interest Receivable And Amortization On Investments
InterestReceivableAndAmortizationOnInvestments
-24814000
cytk Interest Receivable And Amortization On Investments
InterestReceivableAndAmortizationOnInvestments
-10634000
us-gaap Paid In Kind Interest
PaidInKindInterest
8027000
us-gaap Paid In Kind Interest
PaidInKindInterest
20950000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1039000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2352000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-6006000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6937000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-10388000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-11194000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4105000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-15026000
cytk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-5219000
cytk Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-272000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-1593000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-6009000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-330320000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-340296000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1172291000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
409096000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
510947000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
726122000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
4977000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2616000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1339000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-663960000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
320664000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
696000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
636000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6008000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0
cytk Proceeds From Rpi Transactions Agreement
ProceedsFromRPITransactionsAgreement
200000000
cytk Proceeds From Rpi Transactions Agreement
ProceedsFromRPITransactionsAgreement
50000000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
50000000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
46536000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
12358000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
18449000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10517000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
928227000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
52517000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-83000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-66136000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
32885000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
113399000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
67182000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47263000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
100067000
us-gaap Interest Paid Net
InterestPaidNet
25334000
us-gaap Interest Paid Net
InterestPaidNet
9978000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
509000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
462000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2600000000
us-gaap Net Income Loss
NetIncomeLoss
-439500000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-330300000
CY2024Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
1300000000
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
700000000
cytk Cash Requirements Term
CashRequirementsTerm
P12M
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:5%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. We evaluate our estimates on an ongoing basis. We base our estimates on our historical experience and also on assumptions that we believe are reasonable; however, actual results could significantly differ from those estimates</span>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25184000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26216000
CY2023Q4 cytk Milestone Payments Received Under Arrangements
MilestonePaymentsReceivedUnderArrangements
2500000
us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
0
us-gaap Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
0
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46888000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
113024000
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
375000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
375000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
47263000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
113399000
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
400000
CY2024Q3 cytk Accrued Clinical And Preclinical Costs Current
AccruedClinicalAndPreclinicalCostsCurrent
11257000
CY2023Q4 cytk Accrued Clinical And Preclinical Costs Current
AccruedClinicalAndPreclinicalCostsCurrent
5880000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
27884000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
29255000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10685000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7506000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
49826000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
42641000
CY2022Q1 cytk Arrangement Consideration Of Debt Transaction
ArrangementConsiderationOfDebtTransaction
150000000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
423000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
19745000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
40878000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
558900000
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
619946000
CY2024Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
58813000
CY2024Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
561133000
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
9652000
CY2024Q3 cytk Convertible Notes Net
ConvertibleNotesNet
551481000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25356000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18716000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
71590000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
52578000
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8800000

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