Syros Stock Plunges as Lead Cancer Study Fails to Meet Primary Goal

Zacks11-14

Shares of Syros Pharmaceuticals SYRS plunged 86.9% on Wednesday after a late-stage study of its only pipeline candidate, tamibarotene, for treating higher-risk myelodysplastic syndrome (HR-MDS) failed...

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Moreover, the treatment-related adverse events were similar to those observed in earlier company-sponsored studies.Year to date, shares of SYRS have plunged 95.4% compared with theindustry’s 3.8% decline.Based on the disappointing outcome, Syros has decided to stop the HR-MDS study followed by a thorough review of the clinical data to evaluate the next steps. This is a huge setback for the company, leaving SYRS without a pipeline candidate. In the same press release, the company also stated that the failure of the SELECT-MDS-1 study to meet its primary endpoint constitutes an event of default under its secured loan facility with Oxford Finance.SYRS’ Termination of Mid-Stage Leukemia Study in August. The latest stock price drop marks the second pipeline setback for Syros in around three months. In August 2024, Syros stock plummeted after it discontinu","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","ALLO":"Allogene Therapeutics Inc.","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1267930573.SGD":"TEMPLETON GLOBAL \"AA\" (SGD) ACC A","LU0882574055.USD":"富达全球健康医疗A ACC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","SYRS":"Syros Pharmaceuticals Inc.","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4505":"高瓴资本持仓","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0708994859.HKD":"TEMPLETON GLOBAL \"A\" (HKD) ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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Tamibarotene is Syros’ proprietary, oral, selective RARα agonist.\nThe phase III SELECT-MDS-1 study evaluated tamibarotene in combination with azacitidine, a chemotherapy, in newly diagnosed HR-MDS patients with RARα gene overexpression. Per the data readout, the CR rate in the first 190 enrolled patients in the tamibarotene/azacitidine treatment arm was 23.8%, which failed to demonstrate statistical significance over the CR rate of 18.8% observed in the placebo/azacitidine control arm.\nHowever, Syros reported that the combo drug was well-tolerated by the total enrolled HR-MDS patient population in the SELECT-MDS-1 study. Moreover, the treatment-related adverse events were similar to those observed in earlier company-sponsored studies.\nYear to date, shares of SYRS have plunged 95.4% compared with the industry’s 3.8% decline.\nImage Source: Zacks Investment Research\nBased on the disappointing outcome, Syros has decided to stop the HR-MDS study followed by a thorough review of the clinical data to evaluate the next steps. This is a huge setback for the company, leaving SYRS without a pipeline candidate. In the same press release, the company also stated that the failure of the SELECT-MDS-1 study to meet its primary endpoint constitutes an event of default under its secured loan facility with Oxford Finance.\nSYRS’ Termination of Mid-Stage Leukemia Study in August\nThe latest stock price drop marks the second pipeline setback for Syros in around three months. In August 2024, Syros stock plummeted after it discontinued enrollment in the mid-stage acute myeloid leukemia (AML) study of tamibarotene based on poor results from a prespecified interim analysis.\nThe phase II SELECT-AML-1 study evaluated the triple therapy of tamibarotene in combination with AbbVie’s ABBV Venclexta (venetoclax) and azacitidine compared with the doublet regimen of Venclexta and azacitidine in newly diagnosed, unfit AML patients with RARα gene overexpression.\nThe study observed similar CR/CR with incomplete hematologic recovery rates of 65% and 70% between the triplet and doublet arms, respectively. Based on such findings, Syros concluded that the likelihood of the study demonstrating superiority at the final analysis in 80 patients is low, leading to the decision to halt enrollment.\nAbbVie’s Venclexta is currently approved in the United States to treat adult patients with chronic lymphocytic leukemia and AML. The drug is also approved in the EU for the same indications under the brand name, Venclyxto.\n\nSyros Pharmaceuticals, Inc. Price and Consensus\n\nSyros Pharmaceuticals, Inc. price-consensus-chart | Syros Pharmaceuticals, Inc. Quote\n\nSYRS’ Zacks Rank & Stocks to Consider\nSyros currently carries a Zacks Rank #3 (Hold). \nSome better-ranked pharma stocks are Allogene Therapeutics ALLO and Biogen BIIB, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nAllogene Therapeutics’ loss estimates per share have narrowed from $1.40 to $1.35 for 2024 over the past 60 days, while that for 2025 has narrowed from $1.46 to $1.35 per share. ALLO’s shares have lost 15.3% year to date.\nAllogene Therapeutics’ earnings beat estimates in three of the trailing four quarters and matched once, delivering an average surprise of 9.42%.\nBiogen’s earnings estimates have risen from $16.12 to $16.38 per share for 2024 over the past 60 days, while that for 2025 has increased from $17.09 to $17.16. BIIB’s shares have lost 35.9% year to date.\nBiogen’s earnings beat estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 9.99%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBiogen Inc. (BIIB) : Free Stock Analysis Report\nAbbVie Inc. (ABBV) : Free Stock Analysis Report\nSyros Pharmaceuticals, Inc. (SYRS) : Free Stock Analysis Report\nAllogene Therapeutics, Inc. (ALLO) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483382416"}