Heart Disease New Drug Phase 3 Breakthrough... US Nasdaq Biotech Stocks Surge 2.5 Trillion Won in a Day

Cytokinetics Inc. (NASDAQ: CYTK) closed at $76.50 on the Nasdaq, marking a single-day gain of over 15%. Trading volume exceeded 12.8 million shares, lifting the company’s market capitalization to approximately $1.8 billion (about KRW 2.5 trillion).

The stock surge followed the announcement of statistically significant, positive topline results from the pivotal Phase 3 ACACIA-HCM trial of aficamten, Cytokinetics’ treatment candidate for non-obstructive hypertrophic cardiomyopathy patients. At the same time, the company reported its first-quarter 2026 financial results and disclosed initial commercial sales of MYQORZO—its approved therapy for obstructive hypertrophic cardiomyopathy—heightening growth expectations. Plans to raise up to $650 million through a common stock offering, coupled with news of the chief financial officer selling shares, contributed to increased short-term share-price volatility.

Headquartered in South San Francisco, California, Cytokinetics is a biotechnology firm specializing in cardiovascular and muscle diseases by targeting cardiac contractile proteins. The company has focused its development efforts on therapies for hypertrophic cardiomyopathy and heart failure. With MYQORZO already approved in the U.S. and Europe for obstructive hypertrophic cardiomyopathy, the successful Phase 3 results in non-obstructive patients significantly expand aficamten’s market potential.