CYTK - Why Cytokinetics (CYTK) Shares Are Falling | Benzinga

Cytokinetics, Inc. (NASDAQ:CYTK) shares are trading lower by 17.6% to $48.83 during Thursday’s session after the company announced the pricing of a public offering of 9,803,922 shares of its common stock at $51.00 per share, expecting to raise approximately $500 million before expenses.

The offering is set to close on May 28, 2024, pending standard conditions. Additionally, Cytokinetics has granted the underwriters a 30-day option to buy up to an extra 1,470,588 shares at the same price.

J.P. Morgan, Goldman Sachs and Morgan Stanley are managing the offering.

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