Stock Analysis on Net
Stock Analysis on Net

Cytokinetics Inc. (NASDAQ:CYTK)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 3, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Cytokinetics Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable
Accrued liabilities
Contract liabilities
Current deferred revenue
Current portion of long-term debt
Short-term operating lease liabilities
Other current liabilities
Current liabilities
Term loan, net, excluding current portion
Convertible notes, net
Liabilities related to revenue participation right purchase agreements, net
Long-term deferred revenue
Long-term operating lease liabilities
Other non-current liabilities
Non-current liabilities
Total liabilities
Preferred stock, $0.001 par value
Common stock, $0.001 par value
Additional paid-in capital
Accumulated other comprehensive income (loss)
Accumulated deficit
Stockholders’ equity (deficit)
Total liabilities and stockholders’ equity (deficit)

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Accounts Payable
Accounts payable as a percentage of total liabilities and stockholders’ equity fluctuated moderately over the periods, with values generally ranging between approximately 0.5% and 2.8%. Peaks were recorded in December 2018, June 2019, and December 2019, followed by some declines and subsequent increases toward the end of the observed timeframe in 2023.
Accrued Liabilities
Accrued liabilities exhibited variability throughout the quarters. Initially increasing from 5.55% in March 2018 to a high of 7.46% at the end of 2018, then declined to a low of 2.57% in March 2021. Afterward, the ratio generally remained between roughly 3% and 5%, indicating some cyclical changes but no consistent upward or downward long-term trend.
Contract Liabilities and Current Deferred Revenue
Data for contract liabilities and current deferred revenue were limited and only presented for early periods. Contract liabilities dropped from 5.66% in March 2018 to 3.29% in June 2018, with no further data. Current deferred revenue was recorded only once at 1.61% in March 2018.
Current Portion of Long-Term Debt
Current portion of long-term debt showed sporadic presence, with values initially appearing in June 2018, rising to a peak of 3.13% in March 2019, then discontinuously reported in later years with minor percentages around 1-2%, indicating potential debt repayments or refinancing activity during the period.
Short-Term Operating Lease Liabilities
This liability category was absent until September 2018, after which it fluctuated between approximately 0.5% and 2.5%, peaking mostly in late 2019 and then modestly rising again in later 2022 and 2023, suggesting leasing commitments that varied but maintained a significant portion within liabilities.
Other Current Liabilities
Other current liabilities remained minimal but showed a tendency to increase towards the later periods, rising from near zero in early years to peaks close to 1.85% by September 2023, indicating growing unspecified current obligations.
Current Liabilities
Current liabilities as a whole exhibited some volatility, starting at 13.77% in early 2018, dipping to a low of 5.82% in September 2020, then gradually increasing again up to above 10% by September 2023. This indicates fluctuations in short-term obligations but an overall recovery in their relative weight in recent years.
Term Loan, Net (Excluding Current Portion)
The term loan balance relative to total liabilities and equity showed significant changes. It grew from 11.42% in March 2018 to a peak of 23.89% in September 2019, followed by a sharp decline to single-digit percentages around 3-8% from late 2020 onwards, possibly reflecting debt repayments or refinancing during that period.
Convertible Notes, Net
Convertible notes were introduced in December 2019 at 29.05% and showed a steady increase across subsequent periods, reaching 74.01% in September 2023. This indicates a substantial rise in financing through convertible debt instruments, representing a growing component of the company’s capital structure.
Liabilities Related to Revenue Participation Right Purchase Agreements, Net
This liability grew from 38.86% in March 2018 to a peak of 73.5% in September 2019, then declined sharply in late 2020 to the low 20% range. From 2021 onwards, it fluctuated around 30-40%, ending near 50% in September 2023, suggesting significant changes in the structuring or repayment of such agreements over time.
Long-Term Deferred Revenue
Long-term deferred revenue appeared only sporadically from 2020 to 2021, moving from 16.3% in September 2020 down to 10.16% by December 2021, indicating a reduction in deferred income obligations over this period.
Long-Term Operating Lease Liabilities
Data for long-term operating lease liabilities began appearing in late 2018, ranging from around 2.65% to low levels under 1% by late 2020. However, starting in March 2021, values rose sharply again, reaching over 16% by June 2021 and remaining elevated around 10-16% through 2023, indicating changes in lease accounting or additional long-term lease commitments recognized in later periods.
Other Non-Current Liabilities
Other non-current liabilities were consistently minimal, generally below 1%, and showing a slight reduction trend from mid-2021 onward, indicating stable or diminishing miscellaneous long-term obligations.
Non-Current Liabilities
Non-current liabilities as a whole increased steadily from 50.65% of total liabilities and equity in March 2018 to 148.75% in September 2023, more than doubling over the period. This significant rise reflects increased long-term obligations, particularly driven by the growth in convertible notes and other long-term financing instruments.
Total Liabilities
Total liabilities increased from 64.42% of the combined total in March 2018 to 159.25% by September 2023, indicating that liabilities have grown substantially relative to the company's overall capital base, with a marked shift toward greater leverage.
Common Stock
The common stock percentage remained stable and negligible throughout the timeframe, fluctuating around 0.01-0.03%, reflecting limited impact on the capital structure by changes in common stock par value or issuance.
Additional Paid-In Capital
Additional paid-in capital started at 270.57% in March 2018 and generally declined over time, falling to 133.66% by March 2023 before rebounding slightly to 207.57% in September 2023. This suggests substantial changes in contributed capital, potentially through share repurchases, issuances, or accounting adjustments.
Accumulated Other Comprehensive Income (Loss)
This component remained close to zero, fluctuating modestly between minor gains and losses. From small positive values in early years, it shifted toward slight negative values starting in 2021, remaining under 1% in magnitude, indicating limited effect on overall equity from unrealized gains or losses.
Accumulated Deficit
The accumulated deficit was consistently negative and large in absolute terms, starting at -235.19% in March 2018 and exhibiting significant oscillations. It deepened to as much as -445.25% in September 2019, then improved dramatically to around -134.63% by March 2022 before deteriorating again to -266.72% in September 2023. These large negative values imply ongoing net losses and retained earnings deficits over the entire timeframe.
Stockholders’ Equity (Deficit)
Stockholders’ equity was positive but declining through the initial periods, turning negative (-10.6%) in September 2019 and reaching a low of -42.71% by June 2023. Some recoveries were observed intermittently such as 30.09% in March 2021, but overall the trend indicates persistent equity deficits relative to total liabilities and equity, confirming a precarious financial position concerning equity capitalization.