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INCY

Incyte

$99.85

1.41 (1.43%)

, SYRS

Syros Pharmaceuticals

$9.95

-0.1 (-1.00%)

08:06
01/08/18
01/08
08:06
01/08/18
08:06

Incyte, Syros Pharmaceuticals announce research collaboration

Incyte Corporation (INCY) and Syros Pharmaceuticals (SYRS) announced that the companies have entered into a target discovery, research collaboration and option agreement. Under the agreement, Syros will use its proprietary gene control platform to identify novel therapeutic targets with a focus in myeloproliferative neoplasms (MPNs), and Incyte will receive options to obtain exclusive worldwide rights to intellectual property resulting from the collaboration for up to seven validated targets. Incyte will have exclusive worldwide rights to develop and commercialize any therapies under the collaboration that modulate those validated targets. Under the terms of the agreement, Incyte will pay Syros $10 million upfront - including $2.5 million in cash and $7.5 million in prepaid research and development - and purchase a total of $10 million in Syros common stock at $12.61 per share. Should Incyte exercise all of its options under the agreement, Syros could receive up to $54 million from Incyte in target selection and option exercise fees. For products resulting from the collaboration against each of the up to seven selected and validated targets, Syros could receive up to $50 million in development and regulatory milestones, as well as up to $65 million in commercial milestones. Syros would also be eligible to receive low single-digit royalties on sales of products resulting from the collaboration. The transaction is effective immediately.

INCY

Incyte

$99.85

1.41 (1.43%)

SYRS

Syros Pharmaceuticals

$9.95

-0.1 (-1.00%)

  • 08

    Jan

  • 18

    Jan

INCY Incyte
$99.85

1.41 (1.43%)

12/18/17
LEER
12/18/17
NO CHANGE
LEER
Puma Biotechnology, Clovis top picks in biotech for 2018 at Leerink
Leerink analyst Michael Schmidt expects oncology to remain an attractive area within Biotech in 2018. Key product launches, a rich set of pivotal trial results, and pending regulatory decisions among stocks he covers make 2018 a catalyst-rich year, particularly in the first half of 2018, the analyst contends. Puma Biotechnology (PBYI) and Clovis (CLVS) are Schmidt's top-picks with Incyte (INCY) as a close third. Additionally, he sees ImmunoGen (IMGN) and Karyopharm (KPTI) as attractive emerging small-caps for 2018.
01/02/18
RBCM
01/02/18
UPGRADE
RBCM
Outperform
Incyte upgraded to Outperform from Sector Perform at RBC Capital
01/02/18
RBCM
01/02/18
UPGRADE
RBCM
Outperform
Incyte upgraded to Outperform at RBC Capital on improved risk-reward
As reported earlier, RBC Capital analyst Brian Abrahams upgraded Incyte to Outperform from Sector Perform. Abrahams says the 31% decline in the stock price from the September high makes for more substantially improved risk-reward profile as expectations for the phase 3 epa melanoma readout have come down. The analyst says he remains bullish on the long-term growth prospects for Jakafi, modeling its undiscounted, taxed cash flows through end-2026 patent expiry of about $14B.
01/02/18
OPCO
01/02/18
NO CHANGE
Target $120
OPCO
Perform
Incyte price target lowered to $120 from $135 at Oppenheimer
Oppenheimer analyst Jay Olson lowered his price target for Incyte to $120 from $135, citing share underperformed following the presentation of updated ECHO-202 data for epacadostat+Keytruda in advanced melanoma at ESMO. The analyst believes the Incyte share price decline was driven by loss of M&A premium as investors became disappointed by limited Biotech deal activity, concern about potential share price impact of ECHO-301 results in 1H18, and nervousness about the data at ESMO. Olson reiterates an Perform rating on the shares.
SYRS Syros Pharmaceuticals
$9.95

-0.1 (-1.00%)

09/28/17
JMPS
09/28/17
UPGRADE
Target $33
JMPS
Outperform
Syros Pharmaceuticals upgraded to Outperform at JMP Securities
JMP Securities analyst Michael King upgraded Syros Pharmaceuticals to Outperform from Market Perform, noting shares have declined 50% since early August and he believes the recent selloff has been overdone. The company expects to report initial clinical data from its ongoing Phase 2 trial of SY-1425 in patients with acute myeloid leukemia and myelodysplastic syndrome in Q4, noted King, who set a $33 price target on Syros shares.
10/23/17
ROTH
10/23/17
INITIATION
Target $15
ROTH
Neutral
Syros Pharmaceuticals initiated with a Neutral at Roth Capital
Roth Capital analyst Jotin Marango started Syros Pharmaceuticals with a Neutral rating and $15 price target saying it is maturing into a solid company, but value-driving proof-of-concept may take a little longer.
10/31/17
PIPR
10/31/17
INITIATION
Target $30
PIPR
Overweight
Syros Pharmaceuticals assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff assumed coverage of Syros Pharmaceuticals with an Overweight rating and raised his price target for the shares to $30 from $20. The analyst sees the company creating value by expanding its clinical pipeline and signing new partnerships.
11/01/17
PIPR
11/01/17
NO CHANGE
PIPR
Overweight
Syros trading lower on lack of data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff attributes the pullback today in shares of Syros Pharmaceuticals to the lack of clinical data in the online abstract, but the analyst notes this is just a placeholder. Syros will report Phase II data on SY-1425 monotherapy in biomarker-selected relapsed/refractory Acute Myeloid Leukemia and higher-risk Myelodysplastic Syndromes patients, as well as lower-risk, transfusion-dependent MDS patients in a poster at the American Society of Hematology meeting on December 10, Tenthoff tells investors in a research note. He reiterates an Overweight rating on the shares with a $30 price target.

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