Syros Pharmaceut Stock Price, News & Analysis

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.

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.