Cytokinetics’ CK-274 Appears To Upstage BMS’s Newly Acquired Mavacamten
Phase III Trial To Start By Year’s End
The REDWOOD-HCM study showed early, sustained efficacy and no serious adverse events with a drug Cytokinetics designed to be superior to mavacamten, a drug it spun out via BMS-acquired MyoKardia.
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ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on.
Long-term results from the EXPLORER-HCM extension study are consistent with the pivotal trial in obstructive hypertrophic cardiomyopathy, while data from VALOR may support a supplemental filing.
Public Company Edition: While panelists at Biotech Showcase argued merging with a special purpose acquisition corporation is not as attractive as it used to be, firms continue to pursue this go-public alternative. Also, Hillstream launched a small IPO and Cytokinetics accessed cash from Royalty Pharma.