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Cytokinetics (CYTK) Drops on $650-Million Debt Issuance

We recently published 10 Big Names Investors Are Dumping. Cytokinetics, Inc. (NASDAQ:CYTK) is one of the worst performers on Wednesday. Shares of Cytokinetics dropped by 4.42 percent on Wednesday to end at 47.56apieceafterupsizingitsseniorconvertiblenotesissuanceto47.56 apiece after upsizing its senior convertible notes issuance to 650 million. In a statement, Cytokinetics, Inc. (NASDAQ:CYTK) said it aimed to raise 650millionfromtheoffer,anincreasefromthe650 million from the offer, an increase from the 550 million targeted initially. The notes carry a yield rate of 1.75 percent until 2031 and will ...