Cyteir Therapeutics downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Anupam Rama downgraded Cyteir Therapeutics to Neutral from Overweight with no price target after the company announced the strategic prioritization of clinical development of CYT-0851 as a potential combination therapy for the treatment of ovarian cancer and plans to reduce its workforce to extend its cash runway into 2026. While there appears to be some combination activity of CYT-0851 in ovarian cancer, this will likely have to be proven out in later-stage trials before substantial credit can be ascribed, Rama tells investors.