Cytokinetics, a late-stage biopharmaceutical company focused on muscle function, saw a 30% stock increase this year, outperforming the S&P 500. Despite success in China, legal issues in the US may impact short-term stock performance. Director B. Lynne Parshall recently sold 5,000 shares worth ~$323,650, reducing direct ownership to 22,933 shares.

Parshall’s transaction represented 17.9% of her direct ownership prior to the sale. The stock’s value post-transaction is around $1.49 million. The sale matches her historical median transaction size, reflecting a decreased share base. Cytokinetics’ stock has shown a 27.36% return over the last year, surpassing the S&P 500.

Cytokinetics achieved a $7.5 million milestone payment from Sanofi after China’s approval of Myqorzo. The FDA decision for aficamten, scheduled for Dec. 26, could be significant as the company faces a class-action lawsuit alleging misleading statements. This news may lead to stock volatility in an already risky sector.

Read more at Yahoo Finance: This Cytokinetics Director Sold 5,000 Shares in November. Is It Time to Dump the Biopharmaceutical Stock?