Syros Pharma gains as FDA grants orphan drug tag to pancreatic cancer treatment

Syros Pharmaceuticals

13/09/2022 22:16

** Drug Developer Syros Pharmaceuticals' shares  SYRS  up
3.4% at $0.79 in aftermarket trade
    ** Co says FDA has granted orphan drug designation (ODD) to
SY-5609 for treatment of pancreatic cancer  urn:newsml:reuters.com:*:nBw953dgya
    ** Co expects to report safety and clinical activity data
from the safety lead-in portion of its early-stage trial in the
second half of 2022
    ** Under an existing clinical supply agreement with Roche
Holding AG  ROG.S , Syros is supplying SY-5609 for a combination
dosing cohort in Roche's ongoing early-stage INTRINSIC trial 
    ** Orphan drug status is given by FDA to drugs which treat
rare conditions and are protected through a series of government
incentives once in market
    ** More than 886,500 shares changed hands in aftermarket
trade, 1.1 times stock's 25-day average moving volume
    ** Up to last close, stock had fallen 76.5% YTD

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))