April 28, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Cytokinetics, Inc. (NASDAQ:CYTK) shares over potential securities laws violations by Cytokinetics and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cytokinetics, Inc. (NASDAQ:CYTK) concerning whether a series of statements Cytokinetics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cytokinetics, Inc. reported that its annual Total Revenue increased from $2.58 million in 2010 to $30.65 million in 2013 and that its respective Net Loss declined from $49.29 million to $33.72 million.

Shares of Cytokinetics, Inc. (NASDAQ:CYTK) grew from $6.08 per share in December 2013 to as high as $13.15 per share on April 24, 2014.
Then on April 25, 2014, Cytokinetics, Inc announced the results of BENEFIT-ALS (Blinded Evaluation ofNeuromuscular Effects and Functional Improvement with Tirasemtiv in ALS). Cytokinetics, Inc said that BENEFIT-ALS did not achieve its primary efficacy endpoint, the mean change from baseline in the ALS Functional Rating Scale.

Shares of Cytokinetics, Inc dropped from over $13 per share on April 24, 2014, to a close of $4.59 per share on April 25, 2014 and closed on April 28, 2014 at $4.46 per share.