Cytokinetics (CYTK) is expected to launch aficamten in 2026 with a potentially differentiated risk evaluation and mitigation strategy that could boost demand, RBC Capital Markets said in a Monday note.

RBC lowered its 2026 US revenue forecast for aficamten to $90 million from $142 million, citing a partial Q1 following a possible December 2025 approval.

The investment firm now expects launch pricing of $115,000, slightly above Camzyos' projected $108,000, reflecting aficamten's anticipated advantages.

Expected gross-to-net was raised to 30% to 40%, factoring in a payer mix dominated by Medicare, with minor contributions from Medicaid and commercial plans, according to the note.

RBC analysts maintained its long-term US peak sales projection above $3.7 billion and raised its EU forecast to $700 million in 2034, reflecting updated pricing assumptions and a 2026 launch.

Operating expense projections were cut to $846 million from $929 million, with research and development expected to level off and selling, general, and administrative investments projected at around $450 million in 2026.

RBC reiterated an outperform rating for Cytokinetics and raised its price target to $87 from $82.

Shares of the company were up about 4% in recent trading.

Price: 64.52, Change: +2.32, Percent Change: +3.72