Royalty Pharma plc Announces FDA Approval of MYQORZO (aficamten)

Royalty Pharma plc has announced that the U.S. Food and Drug Administration has approved a New Drug Application for MYQORZO (aficamten). This cardiac myosin inhibitor is indicated for adult patients with symptomatic obstructive hypertrophic cardiomyopathy (oHCM) to improve functional capacity and symptoms. Royalty Pharma is entitled to a royalty of 4.5% on MYQORZO sales up to $5 billion, decreasing to 1% on sales above $5 billion, based on prior funding agreements. Additionally, Royalty Pharma provided Cytokinetics capital totaling up to $225 million in 2022 and an additional $225 million in 2024 for MYQORZO, of which $50 million has been drawn. Based on amounts drawn to date, Royalty Pharma will receive $523 million in quarterly repayments over 10 years, with $20 million already repaid as of September 30, 2025. Cytokinetics is also eligible to draw an additional $175 million within the next 12 months, which will be repaid to Royalty Pharma over 10 years at 1.9x the drawn amount.