Syros falls after blood cancer drug fails in late-stage trial

Syros Pharmaceuticals

13/11/2024 14:02

** Shares of Syros Pharmaceuticals Inc  SYRS.O  fall 84.5%
to 42 cents premarket
    ** Co on Tuesday said its drug, tamibarotene, did not meet
main goal of treating a high-risk form of a type of rare blood
cancer called myelodysplastic syndrome in a late-stage trial
    ** SYRS' trial failure leads to loan default with Oxford
Finance, co said
    ** Tamibarotene, when combined with azacitidine, showed a
complete response rate of 23.8% vs 18.8% for combination of
placebo and azacitidine, but data was not statistically
significant
    ** Azacitidine is used to treat certain types of blood
cancer, including myelodysplastic syndrome
    ** As of last close, stock has fallen ~65% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com))