Cytokinetics Still A Buy After Phase 2 SMA Data

Data presented by Cytokinetics, Inc. CYTK showed CK-107 has the ability to positively impact two different animal models of spinal muscular atrophy.

Rodman & Renshaw’s Joseph Pantginis reiterated a Buy rating on the company, with a price target of $25.

Positive Indications

The analyst mentioned the animal models for CK-107 mimic both adult-onset and intermediate iterations of SMA, with both experiments revealing statistically significant impact on muscular force improvement.

Pantginis believes the data presented is “important in supporting the underlying mechanism of action for CK-107.”

Phase 2 Study

Following this preclinical data, Cytokinetics is scheduled to report data on its Phase 2 SMA study in mid-2017.

“Regarding expectations, this is not a typical black and white Phase 2 study with definitive endpoints. Rather it is geared toward generating hypothesis based on the experimental endpoints in the study in order to help define next steps,” the analyst explained.

The endpoints are meant to assess several metrics associated with muscle function and fatigability, with Pantginis believing the preliminary data suggests these measures would be important for the path ahead.

Following recent approvals for SMA drugs by other pharma companies, the analyst expressed optimism CK-107 had “significant potential” to “work in a complementary manner to these therapies and should not be viewed in a competitive fashion.”

Other Data

Cytokinetics also announced additional positive data from its COSMIC-HF study at the ACC 2017, with the data revealing the first echocardiographic evidence omecamtiv mecarbil might have a statistically significant positive impact on left ventricular, myocardial deformation, one of the factors associated with outcomes in heart failure patients.

Related Link:

Cytokinetics Announces Preclinical Data for CK-2127107 Presented at MDA Scientific Conference

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