GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS AGAINST OFFICERS OF CYTOKINETICS, INC. (NASDAQ: CYTK)
Grabar Law Office is investigating claims on behalf of shareholders of Cytokinetics, Inc. (NASDAQ: CYTK). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.
Cytokinetics, Incorporated is a late-stage, specialty cardiovascular biopharmaceutical company focused on discovering, developing and commercializing muscle biology-directed drug candidates as potential treatments for debilitating diseases in which cardiac muscle performance is compromised. The Company is engaged in the commercialization of aficamten, a cardiac myosin inhibitor, and is being evaluated in additional clinical trials enrolling patients with obstructive and non-obstructive hypertrophic cardiomyopathy. The Company is also developing omecamtiv mecarbil, a cardiac myosin activator, in patients with heart failure with severely reduced ejection fraction (HFrEF); CK-586, a cardiac myosin inhibitor for the potential treatment of heart failure with preserved ejection fraction (HFpEF) and CK-089, a fast skeletal muscle troponin activator with potential therapeutic application to a specific type of muscular dystrophy and other conditions of impaired skeletal muscle function.
As alleged in a recently filed federal securities fraud class action complaint, Cytokinetics, Inc. (NASDAQ: CYTK), through certain of its officers made materially false and misleading statements on to the market, Specifically, on March 10, 2025, Cytokinetics disclosed that the U.S. Food and Drug Administration ("FDA") had decided not to convene an advisory committee meeting to review the Company's New Drug Application ("NDA") for aficamten. On May 1, 2025, Cytokinetics announced that the FDA had extended the Prescription Drug User Fee Act action date for aficamten's NDA from September 26, 2025 to December 26, 2025 in order to review a Risk Evaluation and Mitigation Strategy ("REMS") submitted at the FDA's request after the initial NDA filing, thereby disclosing that the Company had not included a REMS in the original NDA. Then, on May 6, 2025, Chief Executive Officer Robert I. Blum acknowledged that Cytokinetics had multiple pre-NDA meetings with the FDA to discuss safety monitoring and risk mitigation but chose to submit the NDA without a REMS, relying on labeling and voluntary education materials. These misleading statements and delayed disclosures caused the company and its shareholders significant harm.
WHAT YOU CAN DO NOW: If you purchased Cytokinetics, Inc. (NASDAQ: CYTK) shares prior to December 27, 2023, and still hold shares today, you are encouraged to contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. Alternatively, if you purchased Cytokinetics shares between December 27, 2023 and May 6, 2025, you can participate in the class action.