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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2595)	9/21/2009 5:25:45 PM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

CYTK also continues its UT without closing its May 26 UG The stock still closed up 20% with volume > 3,500,500 which is > 10x its ADV bigcharts.marketwatch.com Last week it announced data fron two PIIas evaluating omecamtiv mecarbil (formerly CK-1827452), one in stable heart failure patients and one in patients with ischemic cardiomyopathy and angina,that were presented in 3 poster presentations at the 2009 Heart Failure Society of America Annual Meeting in Boston. The stock has had a 150% gain since the up-move started on May. Revenues on the 2ndQ were up to $71.9M from the $3.1M in 2008, but $50M was related to AMGN's payment for the exercise of its option to an exclusive worldwide license (excluding Japan) to omecamtiv mecarbil, and $21.4M was related to the recognition of the remaining deferred revenue associated with AMGN's December 2006 non-exclusive license and technology access fee under the parties' collaboration and option agreement. Net income for the Q was also much better, $0.98 on the black, vs. loss of $0.31 in 2008, and as of June 30, cash, cash equivalents and investments, excluding restricted cash and the put option on the company's auction rate securities, totaled $132M <g> The pending 2Qs results are not expected to show as spectacular % gains on revenue and earnings.<g> The stock is just starting to get off from its longer term DT coming from its May 2004 H at $17.90 The ACTAY is $7.60, but I think I will put my 'target' at the Oct 2007 H of $6.41 and if the general market's environment improves, will increase it to the Jan 2007 H at $9.50 <g> bigcharts.marketwatch.com Bernard