Cytokinetics, Inc. (NASDAQ: CYTK) is engaged as a late-stage biopharmaceutical company, which is focused on the research, development, and commercialization of muscle-based debilitating diseases. Shares of the biopharma company are rallying 52% through early trading on Monday, July 19, 2021. Over the past three months, Cytokinetics has seen average daily volume of 766,180 shares. However, volume of 22.64 million shares or dollar volume of $663.8 million, has already exchanged hands through Monday’s early trading.
Cytokinetics Reports Strong Phase 2 Results For CK-274
Shares of Cytokinetics are climbing after the company announced positive topline results from the Phase 2 clinical trial of CK-274, a potential treatment for hypertrophic cardiomyopathy (HCM). The Phase 2 clinical data shows meaningful reductions in left ventricular outflow in patients suffering from obstructive hypertrophic cardiomyopathy in just two weeks. That clinical data was strong enough for Cytokinetics to begin planning for Phase 3 clinical trials, which are estimated to begin prior to the end of 2021.
During the Phase 2 trials, patients from Cohorts 1 & 2 that were treated with CK-274 for a 10-week period showed statistically significant reductions compared to the placebo group. CK-274 was generally well-tolerated by the trial group. No serious adverse events or treatment interruptions occurred with CK-274.
Heart Disease: Leading Cause of Death Globally
According to the Centers for Disease Control (CDC), heart disease is the leading cause of death in the United States. Roughly one in four Americans die from heart disease every year, which equates to around 655,000 people.
Heart disease is not just the leading killer in the United States. It is also one of the leading causes of death across the world. The World Health Organization (WHO) estimates 17.9 million people die each year from heart-related illnesses, which represents an estimated 32% of all global deaths.
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