Syros Pharmaceuticals, Inc. - SYRS STOCK NEWS

Syros Pharmaceuticals (NASDAQ:SYRS) announced that CEO Nancy Simonian, M.D., will speak at the Piper Sandler 34th Annual Healthcare Conference on November 30 at 4:00 p.m. ET, held at The Lotte New York Palace. Management will also engage in one-on-one meetings. A live webcast of the presentation will be accessible on the Syros website, with an archived replay available for 30 days. Syros focuses on innovative small molecules for gene expression control and is advancing a clinical-stage pipeline that includes therapies for various cancers.

Syros Pharmaceuticals (SYRS) has successfully closed a merger with TYME Technologies, raising approximately $190 million, enhancing its cash balance to $245 million, which extends its cash runway into 2025. The company reported third-quarter revenues of $3.9 million, down from $5.7 million year-over-year, with a net loss of $30.3 million. Encouraging data from the safety lead-in portion of its SELECT-AML-1 Phase 2 trial and initial results from the SY-5609 trial in pancreatic cancer patients were announced, reinforcing the potential of its therapies.

Syros Pharmaceuticals (NASDAQ:SYRS) plans to host a live conference call and webcast on November 14, 2022, at 8:30 a.m. ET, to discuss its third quarter 2022 financial results. The call will provide updates on the company's clinical-stage pipeline, including treatments for conditions such as myelodysplastic syndrome and acute myeloid leukemia. Participants can register for the call here and access the webcast on Syros' website.

Syros Pharmaceuticals (NASDAQ:SYRS) announced the grant of restricted stock unit (RSU) awards totaling 22,610 shares to three new employees as part of their inducement to employment. These RSUs were granted on October 31, 2022 and will vest in four equal annual installments, contingent upon continued employment. This move is in compliance with Nasdaq Listing Rule 5635(c)(4). Syros is focused on developing medicines for gene expression control and has a strong clinical pipeline, including treatments for various cancers.

Syros Pharmaceuticals (NASDAQ:SYRS) announced the presentation of initial data from the SELECT-AML-1 Phase 2 clinical trial at the ASH Annual Meeting on December 10, 2022. The trial assesses the safety of tamibarotene, a selective RARα agonist, combined with venetoclax and azacitidine in newly diagnosed acute myeloid leukemia (AML) patients exhibiting RARA gene overexpression. This trial aims to address the treatment needs of patients ineligible for standard chemotherapy, reinforcing Syros' commitment to innovative cancer therapies.

Syros Pharmaceuticals (NASDAQ: SYRS) announced the grant of 1,260 restricted stock units (RSUs) to a new employee as an inducement for employment, in compliance with Nasdaq listing rules. These RSUs were awarded on September 30, 2022, with a vesting schedule of one-quarter on September 30, 2023, and the remainder vesting annually thereafter, contingent on continued service. Syros is focused on developing gene expression medicines, with candidates targeting myelodysplastic syndrome, acute myeloid leukemia, and solid tumors.

Syros Pharmaceuticals has successfully completed its merger with Tyme Technologies, bringing in approximately $60 million in net cash. Following the merger, Syros has raised $130 million through a private investment in public equity (PIPE) financing, resulting in about $240 million in cash and resources available to fund operations through 2025. The company is set to initiate several clinical trials and has executed a 1-for-10 reverse stock split, now trading under the ticker symbol SYRS. Two new members have joined the board of directors.

Syros Pharmaceuticals and Tyme Technologies announced the approval of their merger on September 15, 2022. The merger will result in Tyme being a wholly owned subsidiary of Syros, with trading expected to commence under the ticker symbol 'SYRS' on Nasdaq. Syros also confirmed a 1-for-10 reverse stock split effective September 16, which will reduce issued shares from approximately 63 million to about 6.3 million. The reverse split is designed to enhance share price and maintain compliance with listing requirements.

Syros Pharmaceuticals (NASDAQ:SYRS) has received orphan drug designation from the FDA for its drug SY-5609, targeting pancreatic cancer. This potent oral CDK7 inhibitor is being tested in combination with chemotherapy for patients with relapsed metastatic pancreatic cancer. The designation highlights the critical need for effective treatments in this challenging area and offers benefits like potential market exclusivity and tax credits.

Initial safety and efficacy results from the ongoing Phase 1 study are expected to be shared later this year.