Ideas Elsewhere: Cyteir Therapeutics (CYT)



Cyteir Therapeutics (CYT) has been recently covered on Clark Street Value and Generals and Workouts as an interesting liquidation play that is expected to work out this year. The company has already decided to liquidate and shareholders are set to approve the decision in the second half of the year. Management will unveil their liquidation distribution range estimates in the upcoming proxy, shortly before the meeting date.

The remaining balance sheet is relatively straightforward and the initial distribution should be paid soon after shareholder approval is received. Clark Street Value estimates the liquidation value of CYT at $3/share (9% upside), while Generals and Workouts sees a $3.07/share target (12% upside). Additionally, there may be some incremental upside from the sale of the company’s discontinued development program.

Note: The ‘Ideas Elsewhere’ section is intended to highlight interesting event-driven investment ideas by other authors. These ideas are not my own, and I am simply summarizing them to bring attention of SSI subscribers. I do not intend to actively follow the developments of these ideas, so you should expect limited updates or follow-ups in the comments section.


2 thoughts on “Ideas Elsewhere: Cyteir Therapeutics (CYT)”

  1. A preliminary proxy has been released, setting the liquidation value range between $2.92/share and $3.31/share. There might be some incremental upside on top from the potential sale of the remaining drug development asset. CYT currently trades 3% above the lower limit, with approximately 10% potential upside to the upper limit.

    Interesting that the contingency reserve is only $0.5m, significantly lower than in the other biopharma liquidations we’ve recently seen.


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