(Bloomberg) -- Cytokinetics Inc., a late-stage biotech firm developing cardiovascular treatments, is exploring options after receiving takeover interest, people with knowledge of the matter said. 

The South San Francisco-based company has attracted interest from at least one major drugmaker in recent months, the people said, asking not to be identified because the information is private. It’s now evaluating its next steps, according to the people. 

Shares of Cytokinetics rose as much as 14% on Tuesday. They were up 6.1% to $34.03 at 12:41 p.m. in New York trading, giving the company a market value of about $3.3 billion. 

Potential suitors may wait until an upcoming data release from Cytokinetics before pursuing any formal bids, some of the people said. Cytokinetics is expecting the topline results of an important Phase 3 trial at the end of the year. 

The trial is looking at a drug called Aficamten, which offers a potential treatment for a heart condition known as hypertrophic cardiomyopathy. If approved, it would be the company’s first commercial product.

Deliberations are still in the early stages, and there’s no certainty they will lead to a transaction.

A representative for Cytokinetics declined to comment. The Betaville blog wrote last week about rumors that Cytokinetics was receiving takeover interest, citing market gossip.

--With assistance from Gerry Smith, Vinicy Chan, Swetha Gopinath and Yiqin Shen.

(Updates with share gain in third paragraph.)

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