Syros Pharmaceuticals Shares Rise After Supply Agreement With Roche

By Chris Wack

Syros Pharmaceuticals Inc. shares were up 7% to $4.82 Thursday after the company said it entered into a clinical supply agreement with Roche Holding AG.

Under the agreement, Syros said it would supply SY-5609, its oral inhibitor of cyclin-dependent kinase 7, for a combination dosing cohort in Roche's ongoing Phase 1/1b trial, which is evaluating multiple targeted therapies or immunotherapy as single agents or in rational specified combinations in molecularly defined subsets of colorectal cancer patients.

Under the terms of the agreement, Roche would sponsor and conduct the Phase 1/1b study to evaluate the safety, tolerability and preliminary efficacy of the combination and will assume all costs associated with the study. In exchange for providing SY-5609, Syros would receive access to the data on SY-5609 in combination with atezolizumab. Syros said it retains all rights to SY-5609.

Syros also reported a second-quarter loss of 36 cents a share on revenue of $5.2 million. Analysts polled by FactSet were looking for a loss of 36 cents a share and revenue of $4.1 million.

The stock hit its 52-week low of $4.35 last week.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

August 05, 2021 13:09 ET (17:09 GMT)

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