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Fly News Breaks for December 18, 2019
SYRS, GBT
Dec 18, 2019 | 10:04 EDT
Roth Capital analyst Zegbeh Jallah views the sickle cell disease and beta thalassemia partnership with Global Blood Therapeutics (GBT) as an "excellent move" for Syros Pharmaceuticals (SYRS). The deal brings in more capital, allows Syros to leverage Global Blood's clinical development and regulatory landscape expertise, and maintains the company's focus on key ongoing programs, Jallah tells investors in a research note. Further, the upfront and milestone payments "seems impressive, and a likely positive for investors," adds the analyst. Jallah reiterates a Buy rating on Syros Pharmaceuticals with a $17 price target. The stock in morning trading is up 17% to $5.39.
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