BUZZ-Syros falls after blood cancer drug fails in late-stage trial

Reuters11-13

** Shares of Syros Pharmaceuticals Inc fall 84.5% to 42 cents premarket

** Co on Tuesday said its drug, tamibarotene, did not meet main goal of treating a high-risk form of a type of rare blood cancer called myelodysplastic syndrome in a late-stage trial

** SYRS' trial failure leads to loan default with Oxford Finance, co said

** Tamibarotene, when combined with azacitidine, showed a complete response rate of 23.8% vs 18.8% for combination of placebo and azacitidine, but data was not statistically significant

** Azacitidine is used to treat certain types of blood cancer, including myelodysplastic syndrome

** As of last close, stock has fallen ~65% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com))

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