Syros Pharma rises on 'fast-track' tag for blood disorder drug

Syros Pharmaceuticals

26/01/2023 13:51

** Shares of drug developer Syros Pharmaceuticals Inc
 SYRS.O  rise 5.2% to $4.67 premarket
    ** Company says U.S. FDA has granted "fast-track" status to
its drug candidate being developed to treat a type of blood
disorder
    ** The experimental drug tamibarotene, in combination with
another drug azacitidine, is being tested for the treatment of
higher-risk myelodysplastic syndrome (HR-MDS)
    ** HR-MDS is caused by blood cells that are poorly formed or
are defective, resulting in fatigue, shortness of breath,
bruising and bleeding, among other symptoms
    ** SYRS says it is testing the therapy in an ongoing
late-stage study, with pivotal data expected in Q3 2024
    ** Fast-track designation is granted by the FDA to
facilitate development and expedite review of therapies with
potential to treat a serious condition where there is an unmet
medical need
    ** Stock fell 79.7% in the past 12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com))