Syros Pharmaceutics (SYRS) Jumps 18% After Announcing Clinical Updates and 2023 Strategy

Syros Pharmaceuticals (SYRS), a leader in advancing new standards of care for the frontline treatment of hematologic malignancies, jumped 18% shortly after providing clinical updates on their pipeline, and strategic priorities for 2023.

Among the key critical updates were:

— Expect to Complete Enrollment in SELECT-MDS-1 Phase 3 Trial in 4Q 2023; Data Expected in 3Q 2024 —
— On Track to Initiate Randomized Portion of SELECT-AML-1 Phase 2 Trial in 1Q 2023; Initial Data Expected 4Q 2023 —
— Entering 2023 in Strong Financial Position, with Cash into 2Q 2025 —

“We are entering 2023 with a singular focus on developing and delivering new standards of care for the frontline treatment of hematologic malignancies,” said Nancy Simonian, M.D., Chief Executive Officer of Syros Pharmaceuticals. “We recently shared encouraging data from the safety lead-in portion of SELECT-AML-1, demonstrating that tamibarotene can combine with existing treatments with the goal of delivering better outcomes to newly diagnosed unfit AML patients positive for RARA gene overexpression, including those with a disease phenotype that may be resistant to venetoclax. These results support our advancement into the randomized portion of SELECT-AML-1, which we expect to initiate in the first quarter of 2023, and give us growing confidence in the potential for tamibarotene to provide clinical benefit to AML and MDS patients with RARA overexpression. We are on track to report initial data from this study in the fourth quarter of 2023.”