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Cytokinetics CYTK License And Milestone Revenues — Milestone Revenue Recognized

Discontinued — last reported Q2 '25

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INCYMilestone and contract revenues — Total revenues
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AXSMRoyalty And Milestone Revenue — Revenue
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INCYMilestone And Contract Revenue — Revenue
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NTRADevelopmental Performance Milestones — Proceeds From License Agreement
$3M+300%

Other financials

Income statement

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Revenue$19.4M+1,126%
Operating income-$183.6M-18.0%
Net income-$206.0M-27.7%
EPS (diluted)-$1.67-22.8%

Balance sheet

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Cash & equivalents$129.8M+76.2%
Total debt$418.2M+75.8%
Total equity-$826.6M-210%
Total assets$1.3B+0.7%

Cash flow

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Operating cash flow-$145.5M-10.5%
CapEx$5.9M+4.7%
Free cash flow-$151.4M-10.3%

Valuation

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Market cap$10.7B+70.6%
Enterprise value$10.98B+70.7%
P/S101.1×-225×

Profitability

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Operating margin-605.1%-268pp
Net margin-784%-337pp
FCF margin-518.8%-223pp

Returns & leverage

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Return on equity-337.6%—
Debt / equity2.2×—
Current ratio4.2×-1.8×

Where this comes from

Reported directly by Cytokinetics in its filing.

Tagged under the XBRL concept cytk:MilestoneRevenueRecognized.

The official record: Cytokinetics’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cytokinetics's license and milestone revenues — milestone revenue recognized?
Cytokinetics (CYTK) reported license and milestone revenues — milestone revenue recognized of $5.9M in Q2 2025.
What does license and milestone revenues — milestone revenue recognized mean?
Revenue recognized specifically when contractual development or regulatory milestones are successfully achieved.
How do you interpret license and milestone revenues — milestone revenue recognized?
An increase signals significant progress in the drug development pipeline and successful validation of the company's research, whereas a decrease reflects a lack of near-term development successes.
How does license and milestone revenues — milestone revenue recognized compare across companies?
Peers in the pharmaceutical and biotech sector report this as 'Milestone Payments' or 'Development Milestone Revenue', which are inherently 'lumpy' due to the nature of clinical development timelines.