CAMBRIDGE, Mass.--(BUSINESS WIRE)--Syros Pharmaceuticals (NASDAQ: SYRS), a leader in the development of medicines that control the expression of genes, announced today that it has priced an underwritten public offering of 5,400,000 shares of common stock at a public offering price of $14.00 per share, which would result in gross proceeds of approximately $75.6 million, before underwriting discounts and commissions. The proceeds of the offering are expected to be used to fund the development of Syros’ ongoing clinical and preclinical programs, and for working capital and other general corporate purposes. All shares are being offered by Syros. Closing of the offering is expected to occur on or about January 22, 2021, subject to customary closing conditions. Syros has also granted the underwriters a 30-day option to purchase up to an additional 810,000 shares of common stock offered in the public offering on the same terms and conditions.
Cowen and Piper Sandler & Co. are acting as joint book-running managers for the offering. JMP Securities and Oppenheimer & Co. are acting as lead managers and Roth Capital Partners and Brookline Capital Markets, a division of Arcadia Securities, LLC, are acting as co-managers.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Syros Pharmaceuticals
Syros is redefining the power of small molecules to control the expression of genes. Based on its unique ability to elucidate regulatory regions of the genome, Syros aims to develop medicines that provide a profound benefit for patients with diseases that have eluded other genomics-based approaches. Syros is advancing a robust clinical-stage pipeline, including: SY-1425, a first-in-class oral selective RAR? agonist in RARA-positive patients with higher-risk myelodysplastic syndrome and acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide in patients with acute promyelocytic leukemia; and SY-5609, a highly selective and potent oral CDK7 inhibitor in patients with select solid tumors. Syros also has multiple preclinical and discovery programs in oncology and monogenic diseases.
