Dallas, Texas 07/10/2013 (Financialstrend) – The shares of Cytokinetics, Inc. (NASDAQ:CYTK) are currently trading at $13.30, up by 2.86%. The stock opened at $12.89.
There was a noticeable fall in the price of the stock of Cytokinetics, Inc. (NASDAQ:CYTK) subsequent to the news that outcomes from a research of medicine for Lou Gehrig’s disease, also known as amyotrophiclateral sclerosis, may be deferred following the instance that fifty eight patients were given placebos by mistake. Afterwards, the losses were trimmed by the company after mentioning that steps have been taken to avert further erroneous study of drug assignments. Cytokinetics, Inc. (NASDAQ:CYTK) also specified that the error pertaining to the electronic data capture system programming was corrected.
A biopharmaceutical company, Cytokinetics, Inc. (NASDAQ:CYTK), has its entire focus on the finding and improvement of therapeutics of small molecule which adjusts function of muscle for the possible healing of the grave ailments and medical state of affairs. The research and development programs of the Cytokinetics, Inc. (NASDAQ:CYTK) that relate to the muscle function biology are aimed at modulators of small molecule of the cardiac contractility, smooth and skeletal muscle. The program – cardiac muscle contractility has its focus on cardiac sarcomere which is the heart’s fundamental muscle contraction unit. The primary candidate of drug of Cytokinetics, Inc. (NASDAQ:CYTK), CK-2017357 is Phase IIa clinical trials program’s subject. Another drug, CK-2017357 effectively treats medical conditions or diseases connected with wasting or weakness of the skeletal muscle. CK-2017357 obtained designation of an orphan drug in March 2010 for the amyotrophic lateral sclerosis’s treatment from the FDA.