Cytokinetics Inc
CYTKHealthcare|Biotechnology|USA
$84.87
-1.18 (-1.37%)
Financials
Financial Snapshot
Market Cap
$11.52B
Enterprise Value
$-470.2M
Revenue (TTM)
$105.8M
Net Income (TTM)
$-829.6M
Cash & Equivalents
—
Net Cash/Share
$-10.31
Free Cash Flow (TTM)
$-548.9M
Operating CF (TTM)
$-523.8M
Debt/Equity
-1.56
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$131.0M
Monthly Burn
$43.7M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $156.2M | $268.9M | $198.7M | $225.1M | $464.1M | $471.6M | $782.6M | $614.8M | $1.08B | $882.2M | $818.5M | |
| Operating Cash Flow | $37.0M | $-101.8M | $-101.2M | $-90.9M | $8.9M | $-142.5M | $-299.5M | $-414.3M | $-395.9M | $-510.0M | $-523.8M | |
| Free Cash Flow | $35.4M | $-104.6M | $-102.1M | $-93.5M | $-2.1M | $-191.4M | $-310.9M | $-415.7M | $-399.8M | $-534.8M | $-548.9M | |
| Capital Expenditure | $-1.6M | $-2.9M | $-889.0K | $-2.6M | $-11.1M | $-48.9M | $-11.3M | $-1.4M | $-3.9M | $-24.8M | $-25.1M | |
| Financing Cash Flow | $16.9M | $225.9M | $13.1M | $159.8M | $234.1M | $320.0M | $516.2M | $221.3M | $930.6M | $524.5M | $527.5M |
R&D Spending
R&D (TTM)
$411.7M
R&D Intensity
389.1%
R&D Growth YoY
-1.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106.4M | $13.4M | $31.5M | $26.9M | $55.8M | $70.4M | $94.6M | $7.5M | $18.5M | $88.0M | $105.8M | |
| R&D Expense | $59.9M | $90.3M | $89.1M | $86.1M | $97.0M | $159.9M | $240.8M | $330.1M | $339.4M | $416.0M | $411.7M | |
| R&D % of Revenue | 56.3% | 675.5% | 283.0% | 320.5% | 173.7% | 227.1% | 254.6% | 4384.1% | 1837.2% | 472.5% | 389.1% | |
| SG&A | $27.8M | $36.5M | $31.3M | $39.6M | $52.8M | $96.8M | $178.0M | $173.6M | $215.3M | $284.3M | $331.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106.4M | $13.4M | $31.5M | $26.9M | $55.8M | $70.4M | $94.6M | $7.5M | $18.5M | $88.0M | $105.8M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.6M | |
| Gross Profit | $106.4M | $13.4M | $31.5M | $26.9M | $55.8M | $70.4M | $94.6M | $7.5M | $18.5M | $88.0M | $103.3M | |
| R&D | $59.9M | $90.3M | $89.1M | $86.1M | $97.0M | $159.9M | $240.8M | $330.1M | $339.4M | $416.0M | $411.7M | |
| SG&A | $27.8M | $36.5M | $31.3M | $39.6M | $52.8M | $96.8M | $178.0M | $173.6M | $215.3M | $284.3M | $331.8M | |
| Operating Income | $18.7M | $-113.4M | $-88.9M | $-98.9M | $-93.9M | $-186.3M | $-324.2M | $-496.2M | $-536.2M | $-612.3M | $-640.2M | |
| Interest Expense | $-2.7M | $-17.0M | $-21.6M | $-27.4M | $-38.7M | $-29.3M | $-51.2M | $-57.7M | $-86.5M | $-103.9M | $-114.3M | |
| Pretax Income | $16.5M | $-127.8M | $-106.3M | $-121.7M | $-127.3M | $-215.3M | $-389.0M | $-526.2M | $-589.5M | $-785.0M | $-829.6M | |
| Net Income | $16.5M | $-127.8M | $-106.3M | $-121.7M | $-127.3M | $-215.3M | $-389.0M | $-526.2M | $-589.5M | $-785.0M | $-829.6M | |
| EPS (Diluted) | 0.39 | -2.59 | -1.95 | -2.11 | -1.97 | -2.80 | -4.33 | -5.45 | -5.26 | -6.54 | -6.84 | |
| EBITDA | $19.9M | $-108.9M | $-83.5M | $-93.0M | $-86.8M | $-183.7M | $-332.0M | $-456.7M | $-493.5M | $-671.0M | $-704.1M | |
| Shares Out. (M) | 42.56 | 49.40 | 54.42 | 57.58 | 64.52 | 76.89 | 89.83 | 96.52 | 111.98 | 120.10 | 123.27 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $66.9M | $125.2M | $42.3M | $36.4M | $83.0M | $112.7M | $65.6M | $113.0M | $94.9M | $122.5M | $129.8M | |
| Marketable Securities | $89.4M | $143.7M | $156.5M | $188.7M | $381.1M | $359.0M | $717.0M | $501.8M | $981.2M | $759.7M | $688.7M | |
| Total Current Assets | $158.6M | $274.3M | $207.7M | $233.8M | $474.2M | $535.7M | $795.2M | $628.1M | $1.11B | $917.0M | $839.5M | |
| Total Assets | $170.1M | $294.8M | $211.2M | $289.8M | $533.8M | $841.3M | $1.01B | $824.3M | $1.40B | $1.42B | $1.27B | |
| Total Current Liabilities | $33.3M | $32.4M | $22.2M | $26.0M | $31.2M | $71.9M | $84.6M | $102.7M | $179.7M | $202.5M | $199.2M | |
| Long-Term Debt | $27.4M | $31.8M | $39.8M | $129.3M | $135.7M | $142.8M | $609.6M | $607.4M | $645.6M | $1.12B | $1.12B | |
| Total Liabilities | $75.8M | $185.0M | $185.2M | $300.8M | $420.4M | $597.5M | $1.12B | $1.21B | $1.54B | $2.08B | $2.10B | |
| Stockholders' Equity | $94.4M | $109.8M | $25.9M | $-10.9M | $113.4M | $243.9M | $-107.9M | $-386.3M | $-135.4M | $-659.6M | $-826.6M | |
| Retained Earnings | $-518.3M | $-646.1M | $-743.3M | $-865.0M | $-992.3M | $-1.21B | $-1.59B | $-2.11B | $-2.70B | $-3.49B | $-3.69B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $37.0M | $-101.8M | $-101.2M | $-90.9M | $8.9M | $-142.5M | $-299.5M | $-414.3M | $-395.9M | $-510.0M | $-523.8M | |
| Capital Expenditure | $-1.6M | $-2.9M | $-889.0K | $-2.6M | $-11.1M | $-48.9M | $-11.3M | $-1.4M | $-3.9M | $-24.8M | $-25.1M | |
| Free Cash Flow | $35.4M | $-104.6M | $-102.1M | $-93.5M | $-2.1M | $-191.4M | $-310.9M | $-415.7M | $-399.8M | $-534.8M | $-548.9M | |
| Investing Cash Flow | $-52.1M | $-65.8M | $5.1M | $-74.7M | $-196.5M | $-147.8M | $-262.1M | $239.3M | $-553.1M | $16.7M | $56.2M | |
| Financing Cash Flow | $16.9M | $225.9M | $13.1M | $159.8M | $234.1M | $320.0M | $516.2M | $221.3M | $930.6M | $524.5M | $527.5M | |
| Issuance of Stock | $0.00 | $119.8M | $0.00 | $36.2M | $225.1M | $312.0M | $0.00 | $164.2M | $706.8M | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $15.0M | $1.3M | $9.9M | $135.6M | $0.00 | $0.00 | $523.6M | $0.00 | $0.00 | $729.5M | $729.5M | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-188.9M | $-858.0K | $-9.6M | $-413.5M | $-413.4M | |
| Stock Based Comp. | $7.1M | $9.0M | $9.8M | $10.8M | $17.6M | $26.8M | $47.9M | $72.1M | $97.8M | $112.3M | $119.1M | |
| Net Change in Cash | $1.8M | $58.3M | $-83.0M | $-5.8M | $46.6M | $29.7M | $-45.5M | $46.2M | $-18.2M | $30.4M | $58.9M |
Dilution Tracker
Shares outstanding grew 60.3% over 5 years — significant dilution
Shares Outstanding
123M
5-Year Share Growth
+60.3%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 42.56 | 49.40 | 54.42 | 57.58 | 64.52 | 76.89 | 89.83 | 96.52 | 111.98 | 120.10 | 123.27 | |
| YoY Change % | — | 16.1% | 10.2% | 5.8% | 12.1% | 19.2% | 16.8% | 7.5% | 16.0% | 7.3% | 2.6% | |
| Stock Issuance | $0.00 | $119.8M | $0.00 | $36.2M | $225.1M | $312.0M | $0.00 | $164.2M | $706.8M | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $7.1M | $9.0M | $9.8M | $10.8M | $17.6M | $26.8M | $47.9M | $72.1M | $97.8M | $112.3M | $119.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 97.6% | |
| Operating Margin % | 17.6% | -848.3% | -282.3% | -368.0% | -168.3% | -264.5% | -342.8% | -6589.7% | -2902.7% | -695.4% | -605.1% | |
| Net Margin % | 15.5% | -955.9% | -337.4% | -452.9% | -228.0% | -305.7% | -411.2% | -6988.6% | -3191.1% | -891.6% | -784.0% | |
| EBITDA Margin % | 18.7% | -814.4% | -265.0% | -346.3% | -155.4% | -260.8% | -351.0% | -6064.9% | -2671.2% | -762.1% | -665.5% | |
| FCF Margin % | 33.3% | -782.7% | -324.1% | -348.1% | -3.8% | -271.8% | -328.6% | -5521.2% | -2164.1% | -607.5% | -518.8% | |
| ROE % | 20.2% | -125.2% | -156.6% | -1622.9% | -248.5% | -120.5% | -572.1% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROA % | 11.5% | -55.0% | -42.0% | -48.6% | -30.9% | -31.3% | -41.9% | -57.2% | -53.0% | -55.5% | -62.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / 571.25 / 820.00
Industry Med.27.41
P/S96.77
Historical4.10 / 31.92 / 1925.48
Industry Med.9.51
P/B—
Historical2.78 / 9.74 / 184.43
Industry Med.2.93
EV/EBITDA-17.03
Historical-102.46 / -10.62 / 163.77
Industry Med.13.14
EV/Revenue113.34
Historical2.82 / 29.36 / 2050.73
Industry Med.8.71
P/FCF—
Historical13.69 / 41.81 / 163.16
Industry Med.27.54
Intrinsic Value Models
Median P/S Value
$27.25
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 31.15 | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 4.86 | 30.07 | 10.92 | 22.72 | 24.02 | 49.76 | 43.51 | 1070.38 | 285.09 | 86.68 | 96.77 | |
| PB Ratio | 5.23 | 4.00 | 13.33 | 0.00 | 13.01 | 15.85 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EV/EBITDA | 18.47 | -1.86 | -2.28 | -5.79 | -13.26 | -19.94 | -12.99 | -18.89 | -10.69 | -12.24 | -17.03 | |
| EV/Revenue | 3.45 | 15.16 | 6.04 | 20.05 | 20.61 | 52.02 | 45.60 | 1145.64 | 285.44 | 93.30 | 113.34 |
Analyst Estimates & Quality
Altman Z-Score
-1.93
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
0.69
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $113.8M | $399.5M | $865.5M |
| Net Income | $-826.5M | $-634.3M | $-345.7M |
| EPS | -6.30 | -4.64 | -2.27 |
| Book Value per Share | -1.72 | -0.52 | 4.19 |
| Operating Cash Flow per Share | -4.44 | -2.45 | -0.69 |
| Operating CF | $-547.74M | $-302.02M | $-85.06M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single segment | $88.0M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $88.0M |