Syros Pharmaceuticals, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 06:53 am EDT
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Syros Pharmaceuticals, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2.83 million compared to USD 6.28 million a year ago. Net loss was USD 36.26 million compared to USD 34.48 million a year ago. Basic loss per share from continuing operations was USD 1.3 compared to USD 5.4 a year ago. Diluted loss per share from continuing operations was USD 1.3 compared to USD 5.4 a year ago.
For the six months, sales was USD 5.79 million compared to USD 11.74 million a year ago. Net loss was USD 60.05 million compared to USD 59.63 million a year ago. Basic loss per share from continuing operations was USD 2.15 compared to USD 9.4 a year ago. Diluted loss per share from continuing operations was USD 2.15 compared to USD 9.4 a year ago.
Syros Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on developing new standards of care for the frontline treatment of patients with hematologic malignancies. The Company is advancing Tamibarotene, a selective retinoic acid receptor alpha (RARα), agonist for which the Company is conducting SELECT-MDS-1, a Phase III clinical trial evaluating tamibarotene in combination with azacitidine in a genomically defined subset of patients with higher-risk myelodysplastic syndrome (HR-MDS), and for which it is conducting SELECT-AML-1, a randomized Phase II clinical trial evaluating tamibarotene in combination with venetoclax and azacitidine in a genomically defined subset of newly diagnosed patients with acute myeloid leukemia (AML). Its other assets include SY-2101 and SY-5609. The Company is seeking out-licensing opportunities for the further development of SY-5609, its highly selective and potent inhibitor of cyclin dependent kinase 7 (CDK7).