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Syros (SYRS) Stock Rises More Than 35% in 3 Months: Here's Why
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Syros Pharmaceuticals, Inc. (SYRS - Free Report) is developing its pipeline candidate, tamibarotene, an oral, selective, retinoic acid receptor alpha or RARα agonist as a frontline treatment of acute myeloid leukemia (AML) and higher-risk myelodysplastic syndrome (HR-MDS).
The FDA granted a Fast Track designation to tamibarotene for the treatment of AML in April 2024.
The regulatory body granted the prestigious tag to tamibarotene in combination with azacitidine and Roche (RHHBY - Free Report) /AbbVie’s (ABBV - Free Report) cancer drug Venclexta (venetoclax) for treating newly diagnosed AML with RARA gene overexpression in adult patients aged more than 75 years or who have comorbidities that preclude the use of intensive induction chemotherapy.
This was one of the factors driving the stock’s rise in the said time frame. Shares of Syros have rallied 38.1% in the past three months compared with the industry’s increase of 10.8%.
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The FDA had also previously granted a Fast Track designation to tamibarotene in combination with azacitidine for the treatment of adults with HR-MDS and RARA overexpression.
The phase II SELECT-AML-1 study is currently evaluating tamibarotene in combination with Roche/AbbVie’s Venclexta and azacitidine in newly diagnosed patients with AML and RARA gene overexpression. The primary endpoint of the study is to check the complete response rate (CR)/complete response with incomplete hematologic recovery (Cri).
Venclexta is being jointly commercialized by ABBV and RHHBY in the United States.
Previously, initial data from the SELECT-AML-1 study showed that patients treated with the combo of tamibarotene plus Venclexta and azacytidine had a 100% CR/CRi rate compared with 70% for patients who were treated with Venclexta and azacytidine alone.
Additional data from the SELECT-AML-1 study is expected later in the third quarter of 2024.
The phase III SELECT-MDS-1 study is evaluating tamibarotene in combination with azacitidine in newly diagnosed patients with HR -MDS with RARA overexpression. Pivotal CR data from the study is expected by mid-fourth quarter of 2024.
Syros is currently preparing for the new drug application for tamibarotene in HR-MDS. The company plans to establish tamibarotene as the new frontline standard of care for patients with HR-MDS with RARA overexpression.
The two data readouts expected later in the year will be an important catalyst for the stock.
In the past 60 days, estimates for ANI Pharmaceuticals 2024 earnings per share have improved from $4.41 to $4.44. Earnings per share estimates for 2025 have improved from $4.85 to $5.42. Shares of ANIP have jumped 16.5% year to date.
ANIP’s earnings beat estimates in each of the trailing four quarters, the average surprise being 53.90%.
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Syros (SYRS) Stock Rises More Than 35% in 3 Months: Here's Why
Syros Pharmaceuticals, Inc. (SYRS - Free Report) is developing its pipeline candidate, tamibarotene, an oral, selective, retinoic acid receptor alpha or RARα agonist as a frontline treatment of acute myeloid leukemia (AML) and higher-risk myelodysplastic syndrome (HR-MDS).
The FDA granted a Fast Track designation to tamibarotene for the treatment of AML in April 2024.
The regulatory body granted the prestigious tag to tamibarotene in combination with azacitidine and Roche (RHHBY - Free Report) /AbbVie’s (ABBV - Free Report) cancer drug Venclexta (venetoclax) for treating newly diagnosed AML with RARA gene overexpression in adult patients aged more than 75 years or who have comorbidities that preclude the use of intensive induction chemotherapy.
This was one of the factors driving the stock’s rise in the said time frame. Shares of Syros have rallied 38.1% in the past three months compared with the industry’s increase of 10.8%.
Image Source: Zacks Investment Research
The FDA had also previously granted a Fast Track designation to tamibarotene in combination with azacitidine for the treatment of adults with HR-MDS and RARA overexpression.
The phase II SELECT-AML-1 study is currently evaluating tamibarotene in combination with Roche/AbbVie’s Venclexta and azacitidine in newly diagnosed patients with AML and RARA gene overexpression. The primary endpoint of the study is to check the complete response rate (CR)/complete response with incomplete hematologic recovery (Cri).
Venclexta is being jointly commercialized by ABBV and RHHBY in the United States.
Previously, initial data from the SELECT-AML-1 study showed that patients treated with the combo of tamibarotene plus Venclexta and azacytidine had a 100% CR/CRi rate compared with 70% for patients who were treated with Venclexta and azacytidine alone.
Additional data from the SELECT-AML-1 study is expected later in the third quarter of 2024.
The phase III SELECT-MDS-1 study is evaluating tamibarotene in combination with azacitidine in newly diagnosed patients with HR -MDS with RARA overexpression. Pivotal CR data from the study is expected by mid-fourth quarter of 2024.
Syros is currently preparing for the new drug application for tamibarotene in HR-MDS. The company plans to establish tamibarotene as the new frontline standard of care for patients with HR-MDS with RARA overexpression.
The two data readouts expected later in the year will be an important catalyst for the stock.
Syros Pharmaceuticals, Inc. Price
Syros Pharmaceuticals, Inc. price | Syros Pharmaceuticals, Inc. Quote
Zacks Rank & Stock to Consider
Syros currently carries a Zacks Rank #3 (Hold).
A better-ranked stock in the biotech sector is ANI Pharmaceuticals, Inc. (ANIP - Free Report) , carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for ANI Pharmaceuticals 2024 earnings per share have improved from $4.41 to $4.44. Earnings per share estimates for 2025 have improved from $4.85 to $5.42. Shares of ANIP have jumped 16.5% year to date.
ANIP’s earnings beat estimates in each of the trailing four quarters, the average surprise being 53.90%.