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Cytokinetics, Incorporated

CYTK
19
Biotechnology · Healthcare
Price
$76.84
-0.34 (-0.44%)
Market Cap
$9.56B
Exchange
NASDAQ
Winston Score
19
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Weak
Cash Flow
Weak
Stability
Data not available
Valuation
Data not available

Share count rising — dilution

+56.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 76.9M (2021) → 120.1M (2025)

Winston Score History

The full picture

Cytokinetics is a biotechnology company focused on developing drugs that target the muscles of the heart. Its lead drug, aficamten, is designed to treat a serious heart condition called hypertrophic cardiomyopathy (HCM), where the heart muscle becomes abnormally thick and makes it hard to pump blood. The company sells to patients and works with cardiologists and hospitals, and its entire pipeline is built around muscle biology.

Cytokinetics earns money by developing drugs and eventually selling or licensing them to patients and healthcare systems, though it is not yet consistently profitable. It operates primarily in the United States but has run clinical trials globally. The company's scientific focus on cardiac muscle mechanics gives it a specialized position in a competitive but growing heart disease market. The key growth driver is regulatory approval and commercial launch of aficamten, but the main risk is that the company depends heavily on that single drug — any clinical or regulatory setback could significantly impact the business.

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2 Congressional buys and 0 sells on CYTK in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-52.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-33.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$406M/ year

Rising (+20% vs prior year)

461.0% of revenue

25.6x the sector average (18%)

Investing heavily in future products and technology

Insider Activity

4.2%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~16 months

$1.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Heavy R&D investment

Cytokinetics, Incorporated is putting 461% of revenue into R&D and that number is rising. That's 25.6x the sector average.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
91.4%
Premium pricing power — 91.4% gross margin
Profit after running costs
Operating Margin
-551.1%
Losing money on operations — -551.1%
Return on the money invested
ROCE
-18.1%
Weak — -18.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-17.2%
Shrinking sales (-17.2% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-1031.7%
Burning cash (-1031.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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