Cytokinetics Deal Rumors Take Traders on White-Knuckle Ride (1)

Traders expecting to make good on Cytokinetics Inc. takeover bets found themselves on a white-knuckle ride as prospects for a deal whipsawed shares.

Cytokinetics was already a takeover favorite when a batch of positive trial data hit in December. In the weeks that followed, shares soared nearly 200% amid multiple reports of buyer interest. But when a key meeting — the JPMorgan Healthcare Conference, a mecca for deals — opened with a flurry of transactions but no bid for Cytokinetics, shares started to fade only to be reignited by new rumors before hopes were dashed again.

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