Syros announces strategic priorities, milestones ahead of JPMorgan conference
Syros Pharmaceuticals outlined its strategic priorities and expected upcoming milestones. The Company will review these priorities in a presentation at the 37th Annual JPMorgan Healthcare Conference on Thursday, January 10, 2019. The company expects to complete enrollment in mid-2019 in the ongoing Phase 2 study cohort evaluating the safety and efficacy of SY-1425 in combination with azacitidine in RARA and IRF8 biomarker-positive patients with newly diagnosed acute myeloid leukemia who are not suitable candidates for standard chemotherapy. Syros also expects to report updated clinical data in the second half of 2019 on SY-1425 in combination with azacitidine, and report initial clinical data in the fourth quarter of 2019 from the expansion portion of the ongoing Phase 1 trial, which is assessing SY-1365 as a single agent and in combination with standard-of-care therapies in multiple ovarian and breast cancer patient populations. Additionally, the company expects to complete IND-enabling studies to support initiation of a Phase 1 oncology trial in early 2020. Syros also announced that it has made a portfolio prioritization decision not to pursue further development of SY-1425 in combination with daratumumab beyond completion of the ongoing pilot cohort in the Phase 2 trial. Based on its current operating plans, Syros expects that its existing cash, cash equivalents and marketable securities will enable it to fund its anticipated operating expenses and capital expenditure requirements into 2020. Syros had approximately $113.2M in cash, cash equivalents and marketable securities as of September 30, 2018.