Syros Pharmaceuticals (SYRS) IPO Opens Up 20%

Today's IPO for Syros Pharmaceuticals (Nasdaq: SYRS) opened for trading at $15 after pricing its initial public offering of 4,000,000 shares of its common stock at a public offering price of $12.50 per share. The company was previously expecting the IPO to price from $14 to $16 per share.

Cowen and Company and Piper Jaffray & Co. are acting as joint book-running managers for the offering. JMP Securities is acting as lead manager for the offering, and Wedbush PacGrow is acting as co-manager for the offering.

Syros Pharmaceuticals is pioneering the understanding of the non-coding region of the genome to advance a new wave of medicines that control expression of disease-driving genes. Syros has built a proprietary platform that is designed to systematically and efficiently analyze this unexploited region of DNA in human disease tissue to identify and drug novel targets linked to genomically defined patient populations.

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