5 Keys To Understanding Syros Pharma's ASH Presentation

Syros Pharmaceuticals Inc SYRS reported initial clinical data over the weekend from an ongoing Phase 2 study of its SY-1425 and SY-1365 therapies for the treatment of genetically defined acute myeloid leukemia, or AML, and myelodysplastic syndrome, or MDS. 

The Analyst

Oppenheimer's Leah Rush Cann maintains an Outperform on Syros' stock with an unchanged $28 price target.

The Thesis

Rush Cann presented five key points to better understanding the data release during the ASH conference:

1. SY-1425 is a small molecule agonist to retinoic acid receptor alpha, and it's important to highlight that it is evaluated in a Phase 2 trial with a genetically defined subset of patients.

2. The analysis of SY-1425 includes "48 patients and an overall response rate was 4.3 percent and stable disease of 57 percent," Rush Cann said. Investigator-reported hematologic improvement was observed in 25 percent of patients with relapsed/refractory AML, 43 percent of patients with relapsed/refractory high-risk MDS and 8 percent of patients with low-risk MDS. 

3. "Immunophenotyping of patients' samples pre- and post-SY-1425 treatment demonstrated a strong induction of CD38 protein expression."

4. SY-1365 strongly inhibited the proliferation of hematologic malignancy cell lines in vitro as well as in in vivo animal models.

5. "The demonstration of myeloid differentiation, including CD38 induction, strongly supports the ongoing development of SY-1425 in combination with HMAs and anti-CD38 therapy."

Price Action

Shares of Syros plunged to a new 52-week low of $6.30 before rebounding to $8.07, which implies a decline of nearly 35 percent on the day. Shares were trading down 26.03 percent at $9.15 at the time of publication. 

Related Links:

Jefferies Calls Bluebird Bio The 'Star' Of This Year's ASH Meeting

Morgan Stanley: Global Blood Therapeutics 'Clearly Encouraged' By Sickle Cell Therapy Data

Posted In: AMLASHLeah Rush CannOppenheimerSYSY1425Analyst ColorHealth CarePrice TargetReiterationAnalyst RatingsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.