On 17 Jan 2020, Syros Pharmaceuticals, Inc. stock identified change of 91.12% away from 52-week low price and recently located move of -28.71% off 52-week high price. SYRS stock has been recorded 44.47% away from 50 day moving average and 13.40% away from 200 day moving average. Moving closer, we can see that shares have been trading 14.42% off 20-day moving average.
Syros Pharmaceuticals (SYRS) recently stated financial results for the quarter ended September 30, 2019, and provided an update on recent accomplishments and upcoming events.
“At Syros, we are focused where we believe we have the greatest potential to make a profound difference for patients by developing small-molecule medicines to control the expression of genes,” stated Nancy Simonian, M.D., Chief Executive Officer of Syros. “This quarter, we made important strides on that front. We stated strong clinical data from our Phase 2 trial of SY-1425 in RARA-positive newly diagnosed unfit AML patients, showing that our discovery of this novel patient subset is translating into clinical benefit. Building on our leadership in selective CDK7 inhibition, we presented new preclinical data on SY-5609 in models of difficult-to-treat solid tumors, highlighting its best-in-class potential as an oral CDK7 inhibitor. These data inform our clinical development plans for both programs and provide us a clear path to make meaningful progress across our pipeline next year. We look forward to reporting potential proof-of-concept data in 2020 for SY-1425 in relapsed or refractory RARA-positive AML patients and to initiating a Phase 1 study of SY-5609 in select solid tumors in the first quarter of 2020.”
Third Quarter 2019 Financial Results:
Syros had cash, cash equivalents and marketable securities of $108.1M as of September 30, 2019, as contrast with $99.7M in December 31, 2018. This increase in cash reflects aggregate net proceeds of about $65.0M from Syros’ two concurrent underwritten public offerings, which closed in April 2019.
For the third quarter of 2019, Syros stated a net loss of $19.8M, or $0.47 per share, contrast to a net loss of $15.7M, or $0.47 per share, for the same period in 2018.
Revenues were $0.6M for the third quarter of 2019, as contrast to $0.4M for the third quarter of 2018. Revenues in both the third quarter of 2019 and the third quarter of 2018 were earned under Syros’ alliance with Incyte Corporation.
Research and development (R&D) expenses were $15.9M for the third quarter of 2019, as contrast to $12.9M for the same period in 2018. This increase was primarily attributable to continued advancement of the Company’s existing clinical trials and advancement of its preclinical programs, including completing SY-5609 IND-enabling studies.
General and administrative (G&A) expenses were $5.0M for the third quarter of 2019, as contrast to $3.9M for the same period in 2018. This increase was primarily attributable to a raise in employee-related expenses.
Syros Pharmaceuticals, Inc. noticed change of -7.55% to $8.51 along volume of 630493 shares in recent session compared to an average volume of 496.06K. SYRS’s shares are at 22.20% for the quarter and driving a 26.94% return over the course of the past year and is now at 23.08% since this point in 2018. The average volatility for the week at 9.13% and for month was at 10.18%. There are 42.39M shares outstanding and 38.28M shares are floated in market.