Investors say 'no bueno' as Cytokinetics stymies M&A prospects with complex Royalty deal

Long thought to be a target for a big M&A deal, Cytokinetics has taken a step toward going it alone for the commercialization of the heart drug aficamten by securing a $575 million funding deal with Royalty Pharma.

The complicated strategic funding deal drew the ire of investors, who sent the stock down 14% in premarket trading Thursday morning. The stock fell 17% when the markets opened on Thursday to $48.62, compared to $59.23 at close.