Cytokinetics CEO Sells 7,500 Shares for $575,700 After Exercising $10.60 Options
Updated
Updated · Yahoo Finance · Aug 22
Cytokinetics CEO Sells 7,500 Shares for $575,700 After Exercising $10.60 Options
3 articles · Updated · Yahoo Finance · Aug 22
Summary
$575,700 of Cytokinetics stock was sold by CEO Robert Blum on Aug. 10 after he exercised 7,500 options and immediately sold the shares at a weighted average $76.76.
The transaction locked in gains from a $10.60 strike price while leaving Blum with 377,820 directly held shares, 4,166 indirectly held shares and about 172,000 derivative securities.
Cytokinetics had a market value of about $9.6 billion on the transaction date, but its financial profile remained lossmaking, with roughly $71 million in trailing revenue against a net loss near $894 million.
The biotech markets MYQORZO for obstructive hypertrophic cardiomyopathy and is still investing heavily in pipeline candidates including aficamten and omecamtiv mecarbil.