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Fly News Breaks for November 7, 2019
Nov 7, 2019 | 13:21 EDT
Piper Jaffray analyst Danielle Brill maintained a Neutral rating on GlycoMimetics but cut her price target on the shares to $5 from $6, saying that the company's "key focus" is on getting uproleselan "across the finish line" and approved for acute myeloid leukemia. The analyst said that the company will present further analysis on uproeselan's efficacy at The American Society of Hematology's 2019 Annual Meeting, as abstract data looked "encouraging" but were difficult to interpret given differences in disease severity across groups. Brill added she still sees readthrough from the recent rivipansel failure to uproleselan, given the mechanism of action is less intuitive in AML. The analyst added she needs more clinical evidence ti restore her confidence in the program.
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