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.
Overview of Syros Pharmaceuticals
Syros Pharmaceuticals (SYRS) is a biopharmaceutical company that leverages advanced gene regulatory circuits, drug discovery, and genomics research to develop novel therapeutic approaches. The company is renowned for its pioneering work in mapping gene expression and modulating the factors that regulate it, providing a fresh perspective in pharmaceutical R&D. By integrating a proprietary platform that combines assay technologies, sophisticated bioinformatics, and biologic insights, Syros has established an innovative method to address complex disease biology.
Innovative Scientific Approach
Central to Syros Pharmaceuticals is its proprietary platform, which integrates multiple domains of scientific investigation to unlock the intricacies of gene control. This platform encompasses carefully integrated assay technologies that evaluate gene activity, advanced computational methods for analyzing genomic data, and profound biologic insights provided by experienced leadership. The strength of this approach lies in its capacity to decipher the regulatory circuits that underpin gene expression, thereby identifying therapeutic targets that were previously difficult to discern.
Focus on Therapeutic Areas
While the scientific methodology developed by Syros has broad applications, the company has focused its early efforts on addressing unmet needs in oncology. The in‐depth understanding of gene regulation provides a foundation for developing new therapies that target cancer at its biological roots. In addition, Syros has committed resources to the development of novel therapies for hematologic malignancies, aiming to redefine treatment standards in conditions that affect blood and lymphatic systems. This dual focus underpins the company's mission to elevate treatment paradigms in life-threatening diseases.
Integrated Technology and Data-Driven Insights
Syros Pharmaceuticals distinguishes itself through its inventive combination of technologies and data-driven insights. The assay technologies allow for precise measurement of gene activity while the integrated bioinformatics systems enable a comprehensive analysis of genomic patterns. This well-rounded methodology permits the translation of complex biological data into actionable insights, providing a robust foundation for therapeutic development. Through this synergy, the company effectively bridges the gap between cutting-edge scientific research and practical drug discovery applications.
Business Model and Competitive Positioning
The operational model of Syros Pharmaceuticals is rooted in scientific innovation and precision research. The company generates value by leveraging its proprietary research to explore and validate new therapeutic targets, particularly in oncology and hematologic malignancies. By capitalizing on its unique capabilities in gene regulation and genomic data integration, Syros is positioned within a competitive landscape where deep scientific insight is critical. The company's methodical approach to drug discovery differentiates it from traditional pharmaceutical R&D models, emphasizing the importance of integrating disease biology with modern analytical techniques.
Expertise and Industry Knowledge
With a leadership team composed of experts in genomics, assay development, and bioinformatics, Syros Pharmaceuticals has rooted its expertise in the convergence of technology and biology. This deep industry knowledge is reflected in the company's commitment to precision medicine, offering a paradigm shift in addressing complex diseases. The scientific rigor and integrated approach not only underpin the company's research initiatives but also enhance its credibility and authority in the competitive biopharmaceutical sector.
Addressing Market Needs with Innovation
Syros Pharmaceuticals has positioned itself to address longstanding challenges in treating complex diseases by transforming scientific discovery into clinical advancements. Its model of combining state-of-the-art technology, robust data analysis, and biological insight ensures that each step in the drug discovery process is both rigorous and innovative. This commitment to excellence has made Syros a significant contributor to advancing therapeutic standards, particularly for patients facing serious health conditions such as cancers and hematologic malignancies.
Conclusion
In summary, Syros Pharmaceuticals stands out for its integrated approach to drug discovery, sophisticated platform for decoding gene regulatory circuits, and its targeted focus on oncology and hematologic malignancies. The company's methodology is built on a fusion of advanced scientific technologies and deep biological insights, reaffirming its role as a knowledgeable and innovative entity within the global biopharmaceutical landscape.
Syros Pharmaceuticals (NASDAQ:SYRS) has announced its intention to voluntarily delist from the Nasdaq Stock Market and deregister its common stock. The company plans to file Form 25 with the SEC around March 10, 2025, with delisting expected to take effect near March 20, 2025.
This decision follows multiple Nasdaq compliance issues, including the stock trading below $1.00, falling below the $50 million minimum value requirement, and having market value of publicly held shares below $15 million. The critical factor driving this decision was the failure of the company's SELECT-MDS-1 Phase 3 trial for tamibarotene, which triggered a default under their Oxford Finance loan agreement.
The company will operate under a wind-down budget approved by Oxford Finance, with the Board determining these actions necessary to preserve cash for an orderly wind-down of operations and maximize remaining value for stakeholders.
Syros Pharmaceuticals (NASDAQ:SYRS) announced that its SELECT-MDS-1 Phase 3 trial of tamibarotene combined with azacitidine for newly diagnosed higher-risk myelodysplastic syndrome (HR-MDS) patients with RARA gene overexpression failed to meet its primary endpoint. The complete response rate in the treatment arm was 23.8% compared to 18.8% in the control arm, which was not statistically significant. The safety profile was generally well-tolerated. The company will discontinue the study and evaluate next steps. The trial failure triggers a default event under Syros' secured loan facility with Oxford Finance
Syros Pharmaceuticals reported Q3 2024 financial results, highlighting zero revenue compared to $3.8M in Q3 2023 due to Pfizer collaboration termination. R&D expenses decreased to $20.5M from $28.3M, while G&A expenses reduced to $5.7M from $7.8M. The company reported a net loss of $6.4M ($0.16 per share) versus $40.1M ($1.43 per share) in Q3 2023. Cash position stands at $58.3M, expected to fund operations into Q3 2025. Pivotal Complete Response data from SELECT-MDS-1 Phase 3 trial for tamibarotene in HR-MDS patients is expected mid-November 2024.
Syros Pharmaceuticals (NASDAQ:SYRS) has scheduled its third quarter 2024 financial results announcement and business update for Thursday, October 31, 2024, at 8:30 a.m. ET. The company will host a live conference call and webcast accessible via phone at (800) 549-8228 (domestic) or (289) 819-1520 (international) using conference ID 07454. A webcast replay will be available for approximately 30 days on the company's website.
Syros Pharmaceuticals (NASDAQ:SYRS) has announced its participation in two upcoming events. At the Society of Hematologic Oncology (SOHO) Annual Meeting from September 4-7 in Houston, Texas, Syros will present additional data from the randomized portion of the SELECT-AML-1 Phase 2 clinical trial. The presentation, titled 'SELECT-AML-1: Phase 2 Randomized Trial of Tamibarotene in Combination With Venetoclax and Azacitidine in Adult Patients With Previously Untreated AML With RARA Overexpression, Who Are Ineligible for Standard Induction Therapy', is scheduled for September 4, 2024, at 5:15-6:30 PM CT.
Additionally, Syros management will participate in the H.C. Wainwright 26th Annual Global Investment Conference on September 9, 2024, at 11:30 AM ET in New York City. A live webcast of this presentation will be available on the company's website, with an archived replay accessible for approximately 30 days afterward.
Syros Pharmaceuticals (NASDAQ:SYRS) announced the discontinuation of enrollment in its SELECT-AML-1 Phase 2 clinical trial for acute myeloid leukemia (AML) treatment. The trial compared a triplet regimen (tamibarotene, venetoclax, and azacitidine) to a doublet regimen (venetoclax and azacitidine) in newly diagnosed, unfit AML patients with RARA gene overexpression.
The decision was based on a prespecified interim analysis of 51 patients, which showed similar complete response rates in both arms (65% triplet vs. 70% doublet). No new safety concerns were identified. Syros will present the trial data at the SOHO Annual Meeting in September 2024.
Despite this setback, Syros remains committed to evaluating tamibarotene in combination with azacitidine for higher-risk myelodysplastic syndrome (MDS) in the ongoing SELECT-MDS-1 Phase 3 trial, with pivotal data expected by mid-fourth quarter 2024.
Syros Pharmaceuticals (NASDAQ: SYRS) reported Q2 2024 financial results and provided a business update. Key highlights include:
1. Pivotal Complete Response (CR) data from SELECT-MDS-1 Phase 3 trial expected by mid-Q4 2024.
2. Additional data from SELECT-AML-1 Phase 2 trial expected in September 2024.
3. Q2 2024 net loss of $23.3 million, or $0.59 per share, compared to $36.3 million, or $1.30 per share, in Q2 2023.
4. Cash, cash equivalents, and marketable securities of $79.0 million as of June 30, 2024.
5. Current funds expected to support operations into Q3 2025, beyond pivotal Phase 3 data readouts.
Syros Pharmaceuticals (NASDAQ:SYRS), a biopharmaceutical company focusing on hematologic malignancies, has announced its upcoming second quarter 2024 financial results report. The company will host a live conference call and webcast on Wednesday, July 31, 2024, at 8:30 a.m. ET to present the results and provide a business update. Interested parties can access the call via phone or webcast, with details available on the company's website. An archived replay of the webcast will be accessible for approximately 30 days after the call.
Syros Pharmaceuticals (NASDAQ:SYRS) will host a webcast on June 25, 2024, from 11:00 a.m. to 12:30 p.m. ET to discuss higher-risk myelodysplastic syndrome (HR-MDS) and the potential of tamibarotene as a new frontline treatment for patients with RARA gene overexpression. Three medical experts will join Syros’ leadership to provide an overview of patient management, current and future treatment landscapes, and tamibarotene's opportunity. Syros is evaluating tamibarotene in pivotal Phase 3 SELECT-MDS-1 and Phase 2 SELECT-AML-1 trials, with pivotal data expected by mid-Q4 2024 and clinical activity and tolerability data by Q3 2024. The event will include presentations on HR-MDS disease overview, current therapies, trial outcomes, and tamibarotene’s mechanism of action.
Syros Pharmaceuticals (SYRS) reported its first-quarter 2024 financial results and provided a corporate update. The company highlighted passing an interim futility analysis in the Phase 3 SELECT-MDS-1 trial, with pivotal CR data expected by mid-Q4 2024. Additionally, the FDA granted Fast Track designation for Tamibarotene in unfit AML. Financially, Syros recorded no revenue compared to $3 million in Q1 2023, and a net loss of $3.7 million, significantly reduced from $23.8 million the previous year. R&D expenses were $24.7 million, down from $28.8 million, while G&A expenses also decreased from $7.4 million to $6.3 million. The company’s cash position was $108.3 million as of March 31, 2024, sufficient to fund operations into Q3 2025.
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