Syncona shares slump as Novartis ends eye treatment development
Syncona shares fell as the UK healthcare investment firm said Novartis had stopped the development of experimental eye treatment, GT005, resulting in milestone payments write-off of £54.5m for Gyroscope Holdings in which Syncona once held a 54% stake.
Equity Investment Instruments
12,191.67
12:54 24/12/24
0.73%
88.04
FTSE 250
20,571.51
13:00 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
Novartis AG
€0.00
10:20 20/12/24
0.00%
€0.00
Syncona Limited NPV
102.60p
12:40 24/12/24
1.58%
1.60p
Gyroscope was sold to Novartis in February last year in $1.5bn deal, with Syncona receiving $442m (£326m) for its stake.