Seeking Alpha

Cytokinetics punished, but omecamtiv mecarbil results not surprising

  • Shares of Cytokinetics (CYTK -20.8%) are getting punished today after omecamtiv mecarbil — developed with Amgen (AMGN +1.4%) — missed its primary endpoint in a Phase 2 acute heart failure trial.
  • Investors shouldn't necessarily be surprised, theStreet's Adam Feuerstein writes, noting that both companies "had been warning investors not to expect a statistically significant improvement in overall dypsnea response because the lowest dose of omecamtiv mecarbil tested was thought to be sub-therapeutic."
  • Leerink agrees. "These results are in line with our expectations since the study was underpowered to hit its primary endpoint," analyst Joseph Schwartz says.
  • Both Leerink and Feuerstein point out that the highest dose of omecamtiv mecarbil performed better.
  • While investors await data from COSMIC, it's worth noting the following comment from CYTK CEO Robert Blum: "We're impressed and pleased with the study results because the drug behaved consistent with what we've seen in previous studies."
Comments (3)
  • pagreen1966
    , contributor
    Comments (596) | Send Message
     
    Good opportunity to add to my holding.

     

    Thanks guys for selling them to me!
    3 Sep 2013, 10:33 AM Reply Like
  • Crash survivor87
    , contributor
    Comments (88) | Send Message
     
    Yeah, a pretty good day to add big time. As both companies didn't expect the lowest dose to have an effect and were not expecting to reach the primary endpoint nothing has changed but the price.
    Great luck that some biotech freaks only read the headlines instead of doing some DD.
    3 Sep 2013, 01:41 PM Reply Like
  • Scrying Biotech
    , contributor
    Comments (1628) | Send Message
     
    "I'm now going to give investors a look ahead at that Omecamtiv Phase III readout. It won't be good! Try though they may to make the numbers look their best the truth will surface. Omecamtiv won't work as a therapy over the extended duration of time this trial requires"

     

    From an article found here:
    http://seekingalpha.co... dated June 13, 2013.

     

    Scrying Biotech: Foretell the Future
    3 Sep 2013, 02:23 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector