Piper Sandler last night downgraded Kronos Bio (KRON) to Neutral from Overweight with a price target of $1, down from $6. The company is discontinuing development of istisociclib due to adverse events in five of seven ovarian cancer patients and exploring strategic alternatives, the analyst tells investors in a research note. The firm believes the company will implement cost-cutting initiatives to preserve cash.
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Read More on KRON:
- Kronos Bio downgraded to Neutral from Overweight at Piper Sandler
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- KRON Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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