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Fly News Breaks for June 28, 2019
GLYC
Jun 28, 2019 | 08:21 EDT
Pfizer (PFE) is expecting data from Phase 3 testing of rivipansel, a treatment for sickle cell patients experiencing vaso-occlusive crises, in the July/August timeframe, Jefferies analyst Biren Amin tells investors in a research note. Given that GlycoMimetics (GLYC) would receive royalties on worldwide sales, the stock may move 50% on positive data and drop 40% on a negative outcome, says the analyst. He believes that while the trial is difficult to predict, the design and the enrollment of younger patients "provide some confidence of a positive outcome." Amin keeps a Buy rating on GlycoMimetics shares with a $19 price target.
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