Cytokinetics CEO Robert Blum disclosed publicly for the first time rumors of a potential buyout that fell through late last year, according to a new securities filing. The rumors first arose during the JP Morgan Annual Healthcare Conference in January, with the Wall Street Journal reporting Novartis was in discussions for an acquisition, pushing Cytokinetics’ market value past $10 billion. But the talks reportedly broke off a few days later, and the company opted instead to raise money through a deal with Royalty Pharma last month — a move Blum defended after claiming a “hijacked” narrative about his management.
Read the full article: Cytokinetics CEO Addresses Acquisition Rumors, Says Buyer Walked Away, SEC Filing Shows //
Source: https://endpts.com/cytokinetics-ceo-addresses-acquisition-rumors-says-buyer-walked-away-sec-filing-shows/