Syros Pharmaceuticals

Syros Pharmaceuticals, SEC File No. 001-37813, sells securities for Flagship Ventures Fund IV, LP, an affiliate. Sales include 216,590 common shares via J.P. Morgan Securities LLC, with an approximate sale date of 12/13/2024 on Nasdaq. No securities sold in the past 3 months. The seller represents no undisclosed material adverse information.

The SELECT-MDS-1 trial found tamibarotene plus azacitidine did not significantly improve CR rate over azacitidine alone in HR-MDS patients with RARA overexpression. The CR rate was 23.8% vs 18.8%, not statistically significant. The combination was generally well-tolerated. Syros Pharmaceuticals will discontinue the trial and review data.

Syros Pharmaceuticals' stock declines sharply as its Phase III trial with lead cancer therapy, tamibarotene, fails to meet primary endpoint in higher-risk myelodysplastic syndrome patients. This follows a similar outcome in a Phase II trial for acute myeloid leukaemia, leading to a 76% drop in stock. The trial's failure also constitutes a default event under Syros' secured loan facility with Oxford Finance.

Syros Pharmaceuticals' Q3 2023 report highlights $0 million revenue, $26.2 million operating expenses, and a $6.4 million net loss. The company advances tamibarotene for HR-MDS and AML, with SELECT-MDS-1 trial enrollment complete and pivotal CR data expected in mid-November 2024. Syros realigned its strategy, reducing employee base by 35% and discontinuing SELECT-AML-1 trial. The company faces substantial doubt about its ability to continue as a going concern, needing additional capital for operations.