Cyteir Therapeutics downgraded to Neutral at BofA after strategic prioritization

As previously reported, BofA analyst Tazeen Ahmad downgraded Cyteir Therapeutics to Neutral from Buy with a price target of $2, down from $4, following the company’s announcement of strategic prioritization plans to focus on ‘0851 combinations in OC and discontinue its hematology programs. The company’s decision to end all monotherapy studies and focus on combination trials in pancreatic cancer, breast cancer, and colorectal cancer has prompted the firm to remove DLBCL and PC from its valuation and reduce the OC addressable population based on the company’s focus on third-line and later therapy.