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Syros Pharmaceuticals (SYRS) Tops Q1 EPS by 8c, Revenues Beat

May 1, 2019 7:40 AM EDT

Syros Pharmaceuticals (NASDAQ: SYRS) reported Q1 EPS of ($0.49), $0.08 better than the analyst estimate of ($0.57). Revenue for the quarter came in at $454 thousand versus the consensus estimate of $430 thousand.

“Our first quarter accomplishments mark important progress against our strategic priorities for 2019,” said Nancy Simonian, M.D., Chief Executive Officer of Syros. “We refined our clinical development strategies for SY-1425 and SY-1365 with the aim of achieving proof-of-concept as soon as 2020 in three patient populations with high unmet needs that we believe offer opportunities for accelerated development. We presented new preclinical data supporting our mechanistic rationale for the ongoing development of SY-1365 in ovarian and breast cancers and highlighted the potency, selectivity and anti-tumor activity of SY-5609, our oral CDK7 inhibitor, further demonstrating our leadership in CDK7 inhibition. Following our successful financing in April, we believe we have sufficient funds to advance our clinical programs beyond potential proof-of-concept readouts, while continuing to execute on our long-term vision of building a fully integrated company with medicines that provide a profound benefit for patients.”

Financial Guidance

Based on its current plans, Syros believes that its existing cash, cash equivalents and marketable securities will be sufficient to fund its planned operating expenses and capital expenditure requirements to the end of the first quarter of 2021.

For earnings history and earnings-related data on Syros Pharmaceuticals (SYRS) click here.



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