Syros Pharma slumps as blood cancer therapy combo 'unlikely to succeed' in study

Syros Pharmaceuticals

13/08/2024 13:27

** Shares of Syros Pharmaceuticals  SYRS.O  decline ~64% to
$1.83 premarket 
    ** Late on Monday, SYRS said that an interim analysis of
data from a mid-stage study for its blood cancer therapy showed
a low probability of success for the trial 
    ** Co said it plans to stop enrolling patients in the study
testing its therapy, tamibarotenein, in combination with AbbVie
 ABBV.N  and partner Roche's  ROG.S  Venclexta and azacitidine
in newly diagnosed, unfit patients with a type of acute myeloid
leukemia (AML)
    ** AML is a rare and aggressive type of blood cancer that
starts in the bone marrow and can spread to other types of the
body  
    ** SYRS said patients currently enrolled in the study will
have the opportunity to remain part of the trial at the
discretion of investigators
    ** SYRS is also testing the therapy in patients with
myelodysplastic syndrome, a group of cancers that occur when the
blood-forming cells in the bone marrow become abnormal
    ** As of last close, SYRS down ~36% YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))