Syros’ stock up almost 30% after positive early PhII data for blood cancer drug

Sy­ros Phar­ma­ceu­ti­cals’ drug can­di­date for hema­to­log­i­cal ma­lig­nan­cies saw an in­creased com­plete re­sponse rate ver­sus stan­dard of care in a mid-stage acute myeloid leukemia tri­al, mark­ing a pos­i­tive change for the com­pa­ny af­ter months of set­backs.

The biotech’s stock price $SYRS jumped by 29% to $3.65 on Wednes­day in re­sponse to the da­ta re­lease. The Phase II da­ta are a pos­i­tive turn­around for the com­pa­ny af­ter it axed 35% of its work­force and re­placed key mem­bers of its ex­ec­u­tive team in Oc­to­ber. Ear­li­er in the sum­mer, the US biotech lost part­ner­ships with Pfiz­er and In­cyte.

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