Cytokinetics raises $60M as it advances PhII skeletal muscle activator as ALS candidate
This article was originally published in Scrip
Cytokinetics, a clinical-stage company based in South San Francisco, has raised approximately $60 million through concurrent, separate offerings of 55.9 million common shares at $0.76 and 23,026 shares of Series B convertible preferred stock at $760. The Series B is non-voting and the shares convert into 1,000 common shares. There are also accompanying warrants. Since the announced pricing, the share price has dropped $0.4 to $0.60.