Here’s why Cytokinetics stock tumbled 42% Thursday

Days before Cytokinetics Inc. and giant biotech partner Amgen Inc. disclosed the results of their late-stage clinical trial of a heart failure drug, Cytokinetics CEO Robert Blum was ready for anything. "It's potentially transformational for the company" and patients, Blum said. But, he added, "It would be devastating if it fails. It will be the biggest punch in the stomach that I can imagine." The companies said Thursday that top-line results of the 8,256-patient, 35-country Phase III trial indicated…

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