Welcome to our dedicated page for Syros Pharmaceut news (Ticker: SYRS), a resource for investors and traders seeking the latest updates and insights on Syros Pharmaceut stock.
Syros Pharmaceuticals, Inc. (SYRS) has been a biopharmaceutical company focused on developing tamibarotene, an oral, selective retinoic acid receptor alpha (RARα) agonist, for the frontline treatment of hematologic malignancies. Company news has centered on higher-risk myelodysplastic syndrome (HR-MDS) and acute myeloid leukemia (AML) in patients whose disease exhibits RARA gene overexpression.
News coverage for Syros includes clinical trial updates from key studies such as the Phase 3 SELECT-MDS-1 trial in HR-MDS and the Phase 2 SELECT-AML-1 trial in AML. These announcements have detailed trial designs, interim analyses, complete response (CR) and CRi rates, and decisions to continue or discontinue enrollment based on prespecified futility analyses. Press releases have also discussed the safety profile of tamibarotene in combination regimens and the company’s interpretation of clinical data.
Financial and corporate updates form another important category of news for SYRS. Syros has reported quarterly financial results, described its cash position and operating expense trends, and outlined expectations for how long existing cash and cash equivalents may fund operations. The company has also provided business updates around pre-commercial activities, conference presentations, and webcast events focused on HR-MDS disease biology and the treatment landscape.
More recent news has highlighted material corporate developments, including the failure of the SELECT-MDS-1 trial to meet its primary endpoint, the resulting event of default under Syros’ loan agreement, and the company’s decision to operate as a wind-down. Additional announcements describe the Board’s approval of a voluntary delisting from Nasdaq, plans to deregister the common stock, and the sale of tamibarotene-related clinical and non-clinical assets to Rege Nephro Co., Ltd. Investors and observers can use the SYRS news stream to follow this transition from late-stage clinical development activities to an orderly wind down of operations.
Syros Pharmaceuticals (NASDAQ:SYRS) announces participation in three investor conferences. The Cowen and Company 41st Annual Health Care Conference on March 1 will feature a panel titled Novel Oncology Targets at 1:20 p.m. ET. The 33rd Annual Roth Conference on March 15 will discuss Navigating Clinical Development in RARE Hematologic & Inflammatory Disease at 10:00 a.m. ET. Lastly, the Oppenheimer 31st Annual Healthcare Conference will occur on March 16, starting at 8:40 a.m. ET. Live webcasts will be available on the Syros website.
Syros Pharmaceuticals (NASDAQ: SYRS) has priced an underwritten public offering of 5,400,000 shares at $14.00 each, resulting in gross proceeds of approximately $75.6 million. Funds will support ongoing clinical and preclinical programs, along with general corporate purposes. The offering is expected to close on January 22, 2021, pending customary conditions. Underwriters have a 30-day option to purchase an additional 810,000 shares. The offering is made under a shelf registration effective from June 2020, with details available via the SEC.
Syros Pharmaceuticals (NASDAQ:SYRS) announced a public offering of common stock, aiming to generate funds for its clinical and preclinical programs, alongside general corporate purposes. The offering may include up to an additional 15% of shares through underwriter options. Joint book-running managers Cowen and Piper Sandler are overseeing the offering, which is subject to market conditions and regulatory approval. A preliminary prospectus will be filed with the SEC, detailing the terms of the offering. This initiative reflects Syros' commitment to advancing its innovative cancer treatments.
Syros Pharmaceuticals (NASDAQ:SYRS) is advancing towards becoming a commercial-stage company through strategic initiatives in targeted hematology and selective CDK inhibition. CEO Nancy Simonian highlighted plans to launch three clinical trials for higher-risk MDS, AML, and APL, aiming to set new care standards. Notably, Syros is on track to report Phase 1 trial data for SY-5609 in Q3 2021. The company ended 2020 with approximately $174 million in cash, believed sufficient to fund operations into H2 2022.
Summary not available.
Syros Pharmaceuticals (NASDAQ:SYRS) will have its CEO, Nancy Simonian, M.D., present at the 39th Annual J.P. Morgan Healthcare Conference on January 7 at 2:50 p.m. ET. The presentation will be accessible via a live webcast on the Syros website, with an archived replay available for 30 days post-event. Syros is focused on developing medicines to control gene expression and has a clinical-stage pipeline, including innovative treatments for myelodysplastic syndrome, acute myeloid leukemia, and solid tumors. For more details, visit www.syros.com.
Syros Pharmaceuticals (NASDAQ:SYRS) announced the closure of a $90.5 million private financing deal with institutional investors, including Bain Capital Life Sciences. The financing included the sale of 10,312,500 shares of common stock and pre-funded warrants for an additional 1,000,000 shares, priced at $8.00 each. Proceeds will support Syros' clinical development pipeline and general corporate purposes. The securities are unregistered and will require a registration statement to be filed with the SEC within 30 days.
Syros Pharmaceuticals (NASDAQ:SYRS) has acquired all assets related to SY-2101, an oral form of arsenic trioxide, from Orsenix. This drug is targeted for newly diagnosed acute promyelocytic leukemia (APL) and aims to reduce treatment burden compared to the current IV formulation. Syros plans to initiate a Phase 3 trial by 2022, with potential FDA submission in 2024. The acquisition includes a $12 million upfront payment and additional milestone payments. Syros also announced a private placement, providing $90.5 million to advance its portfolio.
Syros Pharmaceuticals (NASDAQ:SYRS) announced compelling clinical data from its Phase 2 trial of SY-1425, a selective RARα agonist, at the 62nd American Society of Hematology Annual Meeting. The trial demonstrated an overall response rate (ORR) of 67% in newly diagnosed unfit acute myeloid leukemia (AML) patients, with a median overall survival of 18 months for responding patients. Syros plans to initiate a Phase 3 trial for SY-1425 in higher-risk myelodysplastic syndrome (MDS) and continues to evaluate its use with venetoclax in unfit AML patients. The results support SY-1425's potential as a new standard of care.
Syros Pharmaceuticals (NASDAQ:SYRS) reported its Q3 2020 financial results, highlighting a net loss of $19.5 million or $0.43 per share, slightly improved from $19.8 million or $0.47 per share in Q3 2019. Revenues surged to $3.8 million, up from $0.6 million a year earlier, driven mainly by collaborations with Global Blood Therapeutics and Incyte Corporation. The cash position stood at $93.1 million as of September 30, 2020, sufficient to fund operations into 2022. Syros continues to advance clinical trials, notably for SY-1425 and SY-5609, with significant data presentations expected at the upcoming ASH Annual Meeting.