Cytokinetics CEO stresses company can launch heart drug on its own
As Cytokinetics faces pressure to sell itself to a large pharma company following positive late-stage results of its heart drug, CEO Robert Blum maintains that the biotech can launch the treatment — what would be its first approved medication — on its own.
Cytokinetics reported top-line results of its drug, aficamten, in obstructive hypertrophic cardiomyopathy, or oHCM, last December, sending its shares up on speculation the company would get acquired. Full Phase 3 results released this week further suggest the drug could be used more flexibly than a similar treatment sold by Bristol Myers Squibb, but investors have questioned whether the biotech has the resources and salesforce to compete with a large pharma company.
Blum, speaking Thursday at a talk during STAT’s Breakthrough Summit West, said that if prospective buyers approach the company, he will talk to them, but “at the same time, we’re pushing forward, as we always have, with the original intention to build a commercial business. And that’s not something new. That’s not something that’s a result of a failed M&A dialogue.”
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