Syros Pharmaceuticals (NASDAQ:SYRS) Reports Negative Phase 2 Results, Leading to Stock Drop

Phase 2 Trial Results Disappoint, Causing Stock Decline

Syros Pharmaceuticals (NASDAQ: SYRS) stock fell sharply on Tuesday following the company's release of an update on the SELECT-AML-1 Phase 2 trial. The trial enrolled 105 patients with relapsed or refractory acute myeloid leukemia (AML), and the results did not meet the primary endpoint of complete remission (CR) or complete remission with incomplete blood count recovery (CRi) at 24 weeks.

The trial's safety profile was consistent with previous studies of SY-5609, with no new safety signals identified. The company plans to continue evaluating the safety and efficacy data from the SELECT-AML-1 trial to determine next steps for the SY-5609 program.

Disappointing Results Reverse Earlier Gains

The stock's decline stands in contrast to its upward trajectory last December, when Syros shared initial positive data from the Phase II trial. However, the latest results have led to a sharp reversal, indicating that investors are concerned about the drug's potential efficacy and the company's future prospects.

Key Findings from Phase 2 Trial:

• Did not meet primary endpoint of complete remission (CR) or complete remission with incomplete blood count recovery (CRi) at 24 weeks
• Safety profile was consistent with previous studies of SY-5609
• Company plans to continue evaluating data to determine next steps for SY-5609 program

Conclusion: Uncertain Future for Syros Pharmaceuticals

The disappointing results from the SELECT-AML-1 Phase 2 trial have raised concerns about the potential of SY-5609 and the future of Syros Pharmaceuticals. Investors will be closely monitoring the company's next steps as it evaluates the data and makes decisions about the future of the drug program.