Syros Pharmaceut - SYRS STOCK NEWS

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.

Syros Pharmaceuticals (NASDAQ:SYRS) announced that CEO Nancy Simonian will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14 at 10:00 a.m. ET in New York. The company's innovations focus on controlling gene expression with a clinical-stage pipeline that includes treatments for higher-risk myelodysplastic syndrome, acute myeloid leukemia, and acute promyelocytic leukemia. A live webcast will be available on their website, with an archived replay accessible for 30 days post-event.

Syros Pharmaceuticals (NASDAQ: SYRS) has announced the grant of restricted stock unit (RSU) awards totaling 8,200 shares to two new employees, effective August 30, 2022. These awards serve as material inducements for employment under Nasdaq Listing Rule 5635(c)(4). The vesting schedule includes one award vesting quarterly starting from March 31, 2023, and an additional award beginning August 31, 2023, contingent upon continued service with the company. Syros is focused on developing gene expression medicines targeting various cancers.

Syros Pharmaceuticals (SYRS) announced promising preliminary pharmacokinetic data for SY-2101, an oral form of arsenic trioxide, showing comparable exposure to IV ATO. The company plans to initiate a Phase 3 trial for SY-2101 in APL by late 2023. Following a merger with TYME Technologies, expected to close in the second half of 2022, Syros anticipates raising ~$190 million, extending its cash runway into 2025. Financial results showed a revenue of $6.3 million for Q2 2022, up from $5.2 million in 2021, but with a net loss of $34.5 million. Cash reserves were $86.3 million as of June 30, 2022.

Syros Pharmaceuticals (NASDAQ: SYRS) announced a grant of 31,000 restricted stock units (RSUs) to a newly hired employee as an inducement for employment. This grant aligns with Nasdaq rule 5635(c)(4) and was awarded on July 29, 2022. The RSUs vest in four increments, with the first quarter vesting on March 31, 2023, and subsequent quarters annually, contingent on continued employment. Syros is focused on developing gene expression control medicines, with a pipeline that includes treatments for acute myeloid leukemia and solid tumors.