Biotech Cytokinetics Jumps After Report of Takeover Interest

Shares of Cytokinetics Inc. jumped the most in more than two years after a report that two large drugmakers are considering buying the biotech firm.

The company is seeing takeover interest from Novartis AG and AstraZeneca Plc, according to Dealreporter. The South San Francisco-based company has attracted interest from at least one major drugmaker in recent months, Bloomberg News reported in October.

Shares of Cytokinetics rose as much as 20% in early trading in New York Thursday, their biggest increase since July 2021. Its stock was down 22% this year as of Wednesday’s close. The company has a market ...