Syros Pharmaceuticals, Inc. (SYRS) Bundle
Ever heard of Syros Pharmaceuticals, Inc. (SYRS) and wondered what they're all about? This biopharmaceutical company, once traded on the NASDAQ, aimed to revolutionize the treatment of hematologic malignancies by targeting gene control. But with a recent market cap of just $643.98K and a stock price hovering around $0.024USD as of April 2025, what exactly did they do, and how did they plan to make money? Keep reading to find out about their history, ownership, mission, and business model.
Syros Pharmaceuticals, Inc. (SYRS) History
Syros Pharmaceuticals, Inc. Founding Timeline
Year established
Syros Pharmaceuticals was founded in 2011.
Original location
The company is based in Cambridge, Massachusetts.
Founding team members
The founding team included:
- James Bradner
- Kevin Lee
- Richard A. Young
Initial capital/funding
Syros Pharmaceuticals launched with $43 million in financing from Third Rock Ventures.
Syros Pharmaceuticals, Inc. Evolution Milestones
| Year | Key Event | Significance |
|---|---|---|
| 2011 | Company Founded | Syros Pharmaceuticals was established with $43 million in funding from Third Rock Ventures, focusing on gene control to develop new medicines. |
| 2016 | Entered Collaboration with Celgene | Syros entered into a collaboration with Celgene potentially worth over $600 million to discover, develop, and commercialize novel therapies for blood cancers. |
| 2016 | Completed IPO | Syros Pharmaceuticals completed its initial public offering (IPO), raising $58 million. |
| 2017 | Announced preclinical data on SY-1425 | Syros announced positive preclinical data on SY-1425, a selective RARα agonist, for the treatment of acute myeloid leukemia (AML) and other cancers. |
| 2018 | Initiated Phase 3 Trial of Tamibarotene in RARA-positive AML | Syros initiated a Phase 3 trial evaluating tamibarotene in patients with newly diagnosed RARA-positive acute myeloid leukemia (AML). |
| 2022 | Announced positive topline results from SELECT-AML-1 | Syros announced positive topline results from its SELECT-AML-1 trial evaluating Tamibarotene in RARA-positive AML. |
| 2023 | FDA grants Orphan Drug Designation to Tamibarotene | The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation to Tamibarotene for the treatment of acute promyelocytic leukemia (APL). |
| 2024 | Submitted NDA for Tamibarotene in RARA+ AML | Syros announced the submission of a New Drug Application (NDA) to the FDA for tamibarotene for patients with RARA-positive AML. |
Syros Pharmaceuticals, Inc. Transformative Moments
- Focus on Gene Control: From its inception, Syros adopted a pioneering approach by focusing on gene control mechanisms to create novel medicines, differentiating itself from traditional pharmaceutical companies.
- Strategic Collaborations: The collaboration with Celgene in 2016, with a potential value exceeding $600 million, marked a significant endorsement of Syros's platform and capabilities in developing therapies for blood cancers.
- Advancement of Tamibarotene: The development and clinical advancement of tamibarotene, particularly its Phase 3 trial and subsequent NDA submission, underscored Syros's commitment to addressing unmet needs in RARA-positive AML.
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Syros Pharmaceuticals, Inc. (SYRS) Ownership Structure
Syros Pharmaceuticals, Inc. operates with a mixed ownership structure, encompassing individual investors, institutional shareholders, and potentially some level of employee stock ownership.
Syros Pharmaceuticals, Inc. Current Status
Syros Pharmaceuticals is a publicly traded company, listed on the NASDAQ under the ticker symbol SYRS. As a publicly traded entity, its shares are available for purchase by the general public, and the company is subject to regulations and reporting requirements set forth by the U.S. Securities and Exchange Commission (SEC).
Syros Pharmaceuticals, Inc. Ownership Breakdown
The ownership of Syros Pharmaceuticals is distributed among various shareholders, including institutional investors, individual shareholders, and potentially company insiders. The following table provides an overview of the estimated ownership percentages as of fiscal year 2024:
| Shareholder Type | Ownership, % | Notes |
|---|---|---|
| Institutional Investors | 70% | Includes investment firms, mutual funds, and hedge funds. |
| Individual Investors | 25% | Represents retail investors who hold shares. |
| Insiders (Officers and Directors) | 5% | Shares held by the company's executives and board members. |
Syros Pharmaceuticals, Inc. Leadership
The leadership team of Syros Pharmaceuticals is responsible for the strategic direction and operational management of the company. Key members of the leadership team as of April 2025 include:
- Nancy Simonian, M.D.: Chief Executive Officer
- Kristen Knox: Chief Legal Officer
- Davidsteller: Chief Financial Officer
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Syros Pharmaceuticals, Inc. (SYRS) Mission and Values
Syros Pharmaceuticals is dedicated to developing new medicines that redefine treatment paradigms for cancer and blood disorders. The company's core values reflect a commitment to innovation, patient-centricity, and scientific excellence.
Syros Pharmaceuticals' Core Purpose
Official mission statement
Syros Pharmaceuticals' mission statement is: 'To harness the power of gene control to revolutionize the lives of patients with cancer and other diseases.'
- Syros aims to develop groundbreaking therapies by targeting the fundamental mechanisms that control gene expression.
- The company is focused on addressing significant unmet needs in oncology and other therapeutic areas.
- Syros is committed to advancing scientific understanding and translating discoveries into innovative medicines.
Vision statement
Syros Pharmaceuticals envisions a future where gene control medicines transform the treatment of cancer and other diseases, providing patients with more effective and durable outcomes.
- Syros strives to be a leader in the field of gene control, pioneering new approaches to drug discovery and development.
- The company aims to build a portfolio of transformative medicines that address a wide range of diseases.
- Syros is dedicated to collaborating with researchers, clinicians, and patient communities to advance its mission.
Company slogan/tagline
While Syros Pharmaceuticals does not have a formal, publicly advertised slogan or tagline, their focus on 'harnessing the power of gene control' effectively communicates their innovative approach and core scientific focus.
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Syros Pharmaceuticals, Inc. (SYRS) How It Works
Syros Pharmaceuticals is a biopharmaceutical company focused on developing gene control medicines. These medicines are designed to control the expression of genes to treat diseases, particularly cancers and blood disorders.
Syros Pharmaceuticals' Product/Service Portfolio
| Product/Service | Target Market | Key Features |
|---|---|---|
| Tamibarotene (TAMIBARO) | Acute Promyelocytic Leukemia (APL) |
|
| SY-2101 | Acute Promyelocytic Leukemia (APL) |
|
| LA-HA-101 | Relapsed or Refractory Myelodysplastic Syndrome (MDS) |
|
Syros Pharmaceuticals' Operational Framework
Syros operates through a focused approach to research and clinical development. Key aspects of their operational framework include:
- Drug Discovery and Development: Syros utilizes its gene control platform to identify novel targets and develop proprietary drug candidates.
- Clinical Trials: The company conducts clinical trials to evaluate the safety and efficacy of its drug candidates. For instance, Tamibarotene has undergone Phase 3 trials.
- Partnerships: Syros collaborates with other pharmaceutical companies and research institutions to expand its capabilities and accelerate drug development.
- Regulatory Approval: A key operational goal is to obtain regulatory approvals, such as from the FDA, to commercialize its products.
Syros Pharmaceuticals' Strategic Advantages
Syros Pharmaceuticals has several strategic advantages that contribute to its market success:
- Gene Control Platform: Their proprietary platform provides a unique approach to drug discovery, targeting the genetic drivers of diseases.
- Targeted Therapies: Syros focuses on developing therapies for specific patient populations, increasing the likelihood of clinical success and market adoption.
- Experienced Management Team: A strong leadership team with expertise in drug development and commercialization guides the company's strategic direction.
- Financial Resources: Effective capital management and strategic investments support ongoing research and development efforts. As of the fiscal year 2024, Syros reported having sufficient capital to fund operations into the second quarter of 2026.
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Syros Pharmaceuticals, Inc. (SYRS) How It Makes Money
Syros Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing treatments for cancer and blood disorders. They primarily generate revenue through strategic collaborations and licensing agreements related to their drug development programs, as they do not currently have products on the market.
Syros Pharmaceuticals, Inc. (SYRS) Revenue Breakdown
As a clinical-stage company, revenue streams are subject to variability based on partnership agreements and clinical trial milestones. The following table represents a generalized estimation based on available information regarding typical revenue sources for similar companies.
| Revenue Stream | % of Total | Growth Trend |
|---|---|---|
| Collaboration Revenue | 95% | Variable, dependent on new and ongoing partnerships |
| Licensing Fees | 5% | Variable, dependent on new licensing agreements |
Syros Pharmaceuticals, Inc. (SYRS) Business Economics
The economics of Syros Pharmaceuticals, Inc. are driven by:
- Research and Development (R&D) Costs: A significant portion of their expenses is allocated to R&D, essential for advancing their pipeline of drug candidates.
- Clinical Trial Expenses: Conducting clinical trials represents a major cost, influencing the pace of drug development and potential revenue generation.
- Partnerships and Licensing: Strategic alliances can provide upfront payments, milestone payments, and royalties, affecting their short-term and long-term financial outlook.
- Intellectual Property: Protecting their drug candidates with patents is crucial for maintaining a competitive advantage and potential future revenue.
Syros Pharmaceuticals, Inc. (SYRS) Financial Performance
Key aspects of Syros Pharmaceuticals, Inc.'s financial performance include:
- Cash Runway: Monitoring their cash reserves is vital, as it indicates how long they can fund operations before needing additional financing. For example, on March 21, 2024, Syros announced a public offering of common stock, estimating gross proceeds of approximately $75.0 million.
- Operating Expenses: Analyzing operating expenses, including R&D and general administrative costs, provides insights into their spending efficiency. For the year ended December 31, 2023, Research and development expenses were $79.1 million, and general and administrative expenses were $25.4 million.
- Net Loss: As a development-stage company, they typically incur net losses as they invest heavily in R&D. The net loss for the year ended December 31, 2023, was $99.2 million, compared to a net loss of $123.1 million for the year ended December 31, 2022.
- Revenue Recognition: Revenue is primarily recognized through collaboration agreements. Total revenue for the year ended December 31, 2023, was $5.3 million, compared to $25.6 million for the year ended December 31, 2022.
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Syros Pharmaceuticals, Inc. (SYRS) Market Position & Future Outlook
Syros Pharmaceuticals is navigating a dynamic landscape in the biotechnology sector, focusing on the development of novel therapies for cancer and blood disorders. Their future success hinges on clinical trial outcomes, regulatory approvals, and strategic partnerships.
Competitive Landscape
| Company | Market Share, % | Key Advantage |
|---|---|---|
| Syros Pharmaceuticals | Less than 1% | Focus on gene control therapies with a pipeline targeting hematologic malignancies and solid tumors. |
| Novartis | Approximately 15% | Broad portfolio of oncology products and established global presence. |
| Bristol Myers Squibb | Approximately 18% | Leading immuno-oncology therapies and a strong track record in drug development. |
Opportunities & Challenges
| Opportunities | Risks |
|---|---|
| Positive clinical trial results for tamibarotene in acute myeloid leukemia (AML) could drive significant market value. | Clinical trial failures or delays could significantly impact investor confidence and stock value. |
| Potential partnerships with larger pharmaceutical companies to accelerate drug development and commercialization. | Regulatory hurdles and the need for FDA approval can delay or prevent drug launches. |
| Expansion of the pipeline to include new indications and therapeutic areas. | Competition from established pharmaceutical companies with greater resources and market presence. |
Industry Position
Syros Pharmaceuticals holds a niche position within the competitive biotechnology industry, characterized by:
- A focus on developing innovative gene control therapies.
- A pipeline targeting specific genetic drivers of disease.
- A need to establish strategic partnerships to enhance its market reach and resources.
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