- 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."
at Zacks.com (Nov 11, 2014)