Syros Pharmaceuticals: Despite High-Demand Treatments, We Remain Cautious

Based in Watertown, Massachusetts, Syros Pharmaceuticals (Nasdaq: SYRS) is a biopharmaceutical company that is developing treatments to control genes in patients with cancer, immune-mediated diseases, and other illnesses.

SYRS initially offered 4.0 million shares at an expected price range of $14 to $16.

Lead Underwriters: Cowen & Company and Piper Jaffray

Underwriters: JMP Securities and Wedbush Securities

Business Summary: Biopharmaceutical Developing Treatments to Control Genes in Certain Diseases

Syros Pharmaceuticals is a biopharmaceutical company that is developing treatments, which control genes involved in cancer and additional immune-mediated diseases. Its proprietary platform identifies gene control targets, which have been linked to genomically-defined patient segments. The platform also identifies potential new drug targets in a range of diseases, allows users to advance a wave of medications with a potential to affect multiple drivers of disease via a single target, and provides a lens for diagnosing and categorizing patients, including those with multi-factorial and complex diseases.

The company's drug pipeline includes sY-145, a selective RARa agonist for subsets of patients who suffer from acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (MDS). The pipeline also includes SY-1365, a selective CDK7 inhibitor for acute leukemia.

Source: Syros

As an alternative to many current treatments, gene control therapies target alterations in the cell's underlying gene expression.

Use of Proceeds: Primarily For Additional Clinical Trials

Syros Pharmaceuticals intends to use the net proceeds from the IPO to fund a Phase 2 clinical trial for SY-1425 in AML and MDS, a Phase ½ clinical trial for SY1365, and preclinical programs. Any remaining funds will be used for working capital and general corporate purposes.

Executive Management: Impressive Academic, Industry Credentials

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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the ...

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