Syros Pharmaceuticals reports Q2 EPS (59c), consensus (77c)

Reports Syros (SYRS) did not recognize revenue in the second quarter of 2024, as compared to $2.8 million for the second quarter of 2023. The decrease reflects last year’s termination of Syros’ collaboration agreement with Pfizer.(PFE) …”Syros is well-positioned heading into key clinical data readouts expected in the second half of 2024, including pivotal complete response (CR) data from the Phase 3 SELECT-MDS-1 trial by mid-fourth quarter. In addition, we will present clinical activity and tolerability data from over 40 patients from the SELECT-AML-1 Phase 2 trial at the SOHO 2024 annual meeting in September,” said Conley Chee, Chief Executive Officer of Syros. “We are keenly focused on execution across our late-stage clinical development programs and pre-commercial activities in support of our mission to provide tamibarotene as a new frontline standard-of-care for patients with RARA overexpression. “Supported by compelling, consistent clinical data generated to-date across multiple trials, we believe our differentiated and biologically-targeted approach with tamibarotene provides a meaningful opportunity to address the approximately 50% of higher-risk MDS and 30% of AML patients with RARA overexpression. There is a significant unmet need in these two closely related diseases, with patients and physicians looking for new, convenient, and well-tolerated options that enhance clinical outcomes while maintaining quality of life. As we approach two critical data readouts, we are working diligently to prepare for our first New Drug Application NDA filing and launch, so that we can effectively deliver tamibarotene to the thousands of HR-MDS patients in need of new treatment options. We look forward to an exciting second half of the year and remain committed in our pursuit to provide profound benefit to patients in need,” Mr. Chee continued.