On June 30, 2023, Cytokinesis, Inc. (Nasdaq: CYTK) granted 77,450 stock options to five new hires as an incentive to join their team. The options have an exercise price of $32.62 per share, the same as the closing price of Cytokinetics’ common stock on that date, and will vest over four years with one-quarter of the shares becoming available after one year and the rest monthly over the following 36 months, subject to the new employee’s ongoing service with the company. Each option has a ten-year term and is covered by Cytokinetics’ Amended and Restated 2004 Equity Incentive Plan and a stock option agreement. These options were granted to provide a material inducement to employment in compliance with Nasdaq Listing Rule 5635(c)(4).
Cytokinetics is celebrating its 25th anniversary of leading innovation in muscle biology! As a late-stage, specialty cardiovascular biopharmaceutical company, they are committed to discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors – potential treatments for debilitating diseases in which cardiac muscle performance is compromised.
Aficamten, a next-in-class cardiac myosin inhibitor, is currently being evaluated in clinical trials in order to assess its effectiveness for hypertrophic cardiomyopathy. Further compounds under development by the company are omecamtiv mecarbil, a cardiac muscle activator, CK-136 – a cardiac troponin activator for the potential treatment of HFrEF, and CK-586, a cardiac myosin inhibitor with a unique mechanism of action. Join Cytokinetics on this groundbreaking journey to find life-changing treatments which can improve and advance our lives.
Cytokinetics has released a forward-looking statement for the purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Although we are confident in our plans and progress, we recognize that there are potential obstacles and risks that may shape the future of our business potential. We have acknowledged these risks and prospects outlined in our most recent Quarterly Report on Form 10-Q under the “Risk Factors” section. Nevertheless, our research and development efforts continue to make strides and our commitment to developing our product candidates persists. We remain optimistic about the potential of our products and their impact here in the near future.