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Cytokinetics (CYTK) Stock Falls 11.9% on Q3 Results
Cytokinetics Q3 results: MYQORZO sales reached $44.5 million and net loss was $190.1 million as CYTK stock fell 11.9% in trading on November 5, 2026.
Cytokinetics (NASDAQ: CYTK) shares were down 11.9% in trading on November 5, 2026, the session after the company released its Cytokinetics Q3 results. Its heart drug MYQORZO (aficamten) brought in $44.5 million in net product revenue in the quarter, while the company posted a net loss of $190.1 million.
What Cytokinetics reported in Q3 results
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Total revenue | $47.6 million | $1.9 million | up $45.7 million |
| R&D expenses | $99.3 million | $97.3 million | up 2% |
| SG&A expenses | $113.1 million | $69.5 million | up 63% |
| Net loss | $190.1 million | $306.2 million | 38% smaller |
| Loss per share | $1.37 | $2.55 | $1.18 smaller |
Of the MYQORZO revenue, $43.1 million came from the U.S. and $1.4 million from Germany. SG&A (selling, general and administrative costs, the spending on sales teams and overhead) rose mainly because of external costs tied to the drug's commercial launch and higher personnel costs.
The company reaffirmed its full-year 2026 guidance (its own forecast) for combined R&D and SG&A expenses of $860 million to $890 million. Cash, cash equivalents and investments stood at about $1.6 billion on September 30, down from $1.7 billion at June 30.
Why the stock fell 11.9%
The drop was roughly five and a half times the size of a typical day's swing for the stock. The release showed a company still spending well beyond its sales: launch costs pushed SG&A up 63%, and the quarter's loss of $190.1 million was about four times total revenue. The cash balance also fell by roughly $100 million in three months.
What to watch next
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A planned Supplemental New Drug Application (a request to the FDA to add a new use) for aficamten in non-obstructive HCM in Q4 2026.
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The UK launch of MYQORZO in Q4 2026, with more countries planned for 2027.
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A Type II Variation filing (an application to extend the existing approval) in the European Union in early 2027.
FAQ
What is MYQORZO used for?
MYQORZO is a cardiac myosin inhibitor approved in the U.S., China, the European Union, the United Kingdom and Canada for adults with symptomatic obstructive hypertrophic cardiomyopathy, a condition where thickened heart muscle blocks blood flow. A Phase 3 trial called ACACIA-HCM produced positive results in the non-obstructive form of the disease and was published in the New England Journal of Medicine.
How many patients are taking MYQORZO?
In 2026 through September 30, over 2,800 patients had been dispensed MYQORZO and nearly 1,100 healthcare providers had prescribed it. Health Canada and the UK regulator MHRA also granted authorization during the period.
Sources
This article is for information only and is not investment advice.