NASDAQ:CYT - Nasdaq - US23284P1030 - Common Stock - Currency: USD
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 1.5% on Friday. The Dow traded up 0.93% to 34,439.75 while the NASDAQ rose 1.54% to 13,800.92. The S&P 500, also rose, gaining, 1.32% to 4,454.48.
A little-known biotech company, Cyteir Therapeutics Inc., is about to notch its best day ever — on the back of plans to dissolve the company.
BofA Securities has downgraded Cyteir Therapeutics (CYT) to neutral from buy citing the company's recent decision on a pipeline prioritization to focus on combination therapies.
Cyteir Therapeutics (CYT) will prioritize clinical development of CYT-0851 and reduce its workforce as part of the prioritization. Read more here.