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Fly News Breaks for August 5, 2019
PFE, GLYC
Aug 5, 2019 | 09:07 EDT
Following Pfizer's (PFE) disclosure of "unambiguously negative" top-line results from the Phase 3 RESET trial of rivipansel, Stifel analyst Stephen Willey removed all rivipansel-related milestones and royalties from his model for GlycoMimetics (GLYC) and cut his price target on the latter stock to $14 from $21. However, he'd argue "a lot of this negativity" about rivipansel appeared to be already priced into the stock and he remains positive on the prospects of uproleselan in AML. Willey keeps a Buy rating on GlycoMimetics shares.
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