TYME Technologies jumps after premium buyout offer from Syros Pharma

Syros Pharmaceuticals

05/07/2022 18:52

** Shares of biotechnology firm TYME Technologies  TYME.O 
up 11% at 30 cents in afternoon trade after Syros  SYRS.O  to
acquire co
    ** Buyout offer includes TYME's pipeline assets, net cash
and represents ~60% premium to stock's closing price  
    ** TYME stockholders are expected to receive about 0.4312
shares of Syros common stock for each share of TYME common stock
 urn:newsml:reuters.com:*:nBwbrfpgCa
    ** Nancy Simonian will serve as chief executive officer and
Jason Haas as chief financial officer of combined company
    ** Upon closing of the merger, TYME will become a wholly
owned subsidiary of Syros
    ** Shares of Syros Pharmaceuticals last down 5.4% at $0.86 
    ** TYME shares down ~49% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((Aatrayee.Chatterjee@thomsonreuters.com;))