Syros Pharmaceuticals Shares Rise After Supply Agreement With Roche
August 05 2021 - 1:22PM
Dow Jones News
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 chris.wack@wsj.com
(END) Dow Jones Newswires
August 05, 2021 13:09 ET (17:09 GMT)
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