RPRX - Heart Disease-Focused Cytokinetics Operations Are On Track Despite Acquisition Uncertainty Analysts Observe | Benzinga
On Wednesday, Royalty Pharma plc (NASDAQ:RPRX) and Cytokinetics Incorporated (NASDAQ:CYTK) entered into a strategic funding collaboration providing capital to support the commercialization of aficamten and advance the company’s expanding cardiovascular pipeline.
The transaction includes funding for planned commercialization, development funding, royalty restructuring, revenue sharing, and the purchase of Cytokinetics equity.
Together, these provide Cytokinetics with $250 million on closing and up to a total of $575 million to support the company’s further maturation and corporate development.
Cytokinetics also priced a public offering of 9.8 million shares at $51/share, with gross proceeds of approximately $500 million.
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