Shares of Cytokinetics (CYTK) blasted off Wednesday after the firm announced positive results in a study of its experimentalꦺ h🔯eart treatment.

The drug, Aficamten, treats symptomatic obstructive hypertrophic cardiomyopathy (HCM), a condition in which heart muscles thicken, become stiff, and can cause cardiac arrest. Cytokinetics said in a key Phase 3 study, Aficamten “significantly improved exercise capacity compared to placebo,” by boosting peak oxygen uptake.

Fady Malik, executive vice president of research and development at Cytokinetics, sꦜaid in a statement that the result🔜s are consistent with those from an early study, and could make Aficamten the drug of choice among physicians and patients requiring medications like it.

The company is l🍌ooking to receive marketing approval from regulators in the U.S. and Europe in the seco💜nd half of next year.

Aficamten is seen as a potential challenger to Bristol Myers Squibb Co.’s (BMY) Camzyos, which also treats HCM and was approved by the 澳洲幸运5官方开奖结果体彩网:Food and Drug Administration (FDA) last year.

Bristol Myers Squibb has made headlines of its own over the past couple of days, 澳洲幸运5官方开奖结果体彩网:spending $18.1 billion to purchase Karuna Therapeutics Inc. (KRTX) and RayzeBio Inc. (RYZB) to b♉oost its neuroscience and oncological portfol🤡ios. 

Cytokinetics shares skyrocketed to a 19-year high, advancing more than 80% in late Wednesday tradin🧔g to about $82.50.