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NetworkNewsBreaks – Syros Pharmaceuticals (NASDAQ: SYRS) Closes Underwritten Public Offering of $75.6 Million

Company: Syros Pharmaceuticals (SYRS)
Category: News

Syros Pharmaceuticals (NASDAQ: SYRS), a leader in the development of medicines that control the expression of genes, announced that it has closed its underwritten public offering. The offering was comprised of 5,400,000 shares of common stock that were sold at $14 per share. In the announcement, the company noted that the public offering resulted in the gross proceeds of approximately $75.6 million, which Syros anticipates it will use to fund the development of its ongoing clinical and preclinical programs; the company may also use the monies for working capital and other general corporate purposes. Along with the closing, Syros noted that it had granted the underwriters a 30-day option to purchase an additional 810,000 shares of common stock. Co-manager for the offering was Roth Capital Partners.

For more information, visit the company’s website at www.Syros.com.

About Syros Pharmaceuticals

Syros is redefining the power of small molecules to control the expression of genes. Based on its unique ability to elucidate regulatory regions of the genome, Syros aims to develop medicines that provide a profound benefit for patients with diseases that have eluded other genomics-based approaches. Syros is advancing a robust clinical-stage pipeline, including SY-1425, a first-in-class oral selective RARα agonist in RARA-positive patients with higher-risk myelodysplastic syndrome and acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide in patients with acute promyelocytic leukemia; and SY-5609, a highly selective and potent oral CDK7 inhibitor in patients with select solid tumors. Syros also has multiple preclinical and discovery programs in oncology and monogenic diseases.

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