Cytokinetics rises as Bristol Myers flags 'steady growth' for rival drug

Heart disease drugmaker Cytokinetics' shares CYTK.O rise 5.7% to $40.17

Rival Bristol Myers Squibb BMY.N stressed that it expects steady growth of heart drug Camzyos in 2025

Says it is observing "strong global demand, high persistency and new patients coming on to therapy each week," especially after a recent update to its prescribing information

The update allows for less frequent monitoring and simplifies treatment process for patients and doctors, J.P. Morgan analysts say

"We also think the label update bodes well for the overall class and could expand the hypertrophic cardiomyopathy (HCM) market," — brokerage

CYTK is developing a rival heart drug, aficamten, to treat non-obstructive form of HCM, an inherited condition characterized by thickening of heart muscles

CYTK is expected to report Q1 results on May 6

As of last close, CYTK has fallen 14.7% YTD