Peninsula biotech gets $100M royalty deal for drug that won't hit market for at least 4 years

Cytokinetics Inc. landed a $100 million upfront royalty and equity deal, the company said Thursday, for an experimental heart failure drug that could be four to five years away from hitting the market and generating royalties. The transaction with Royalty Pharma is big for Cytokinetics (NASDAQ: CYTK), which in its 20-year history has lost more than a half-billion dollars and not yet produced a drug. In part, the deal is significant because the South San Francisco company flipped $40 million it received…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news