Syros Pharmaceuticals, Inc. (SYRS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Syros Pharmaceuticals, Inc. (SYRS) está revolucionando el panorama de la biotecnología con su innovador enfoque terapéutico de regulación génica, colocándose a la vanguardia de la medicina de precisión. Al aprovechar una sofisticada plataforma de control de genes patentados, la compañía está pionera en tratamientos innovadores que se dirigen a cánceres desafiantes y trastornos genéticos con una precisión molecular sin precedentes. Su modelo de negocio único representa una fusión audaz de investigación genómica avanzada, asociaciones estratégicas y desarrollo terapéutico transformador, prometiendo remodelar la forma en que entendemos y combatemos las enfermedades genéticas complejas.

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocios: asociaciones clave

Instituciones de investigación académica

Syros Pharmaceuticals mantiene asociaciones estratégicas con las siguientes instituciones de investigación académica:

Institución	Enfoque de investigación	Estado de colaboración
Instituto del Cáncer Dana-Farber	Regulación génica en oncología	Asociación activa
Instituto de Tecnología de Massachusetts (MIT)	Investigación genómica	Colaboración en curso

Colaboradores farmacéuticos

Syros ha establecido asociaciones farmacéuticas clave para ensayos clínicos y descubrimiento de fármacos:

• Bristol Myers Squibb - Acuerdo de colaboración firmado en 2022
• Roche Pharmaceuticals - Asociación de investigación estratégica

Inversores estratégicos

Syros Pharmaceuticals ha asegurado inversiones de las siguientes empresas de capital de riesgo:

Inversor	Monto de la inversión	Año
Pionero insignia	$ 45 millones	2021
Orbimed Advisors	$ 35 millones	2020

Organizaciones de investigación por contrato

Syros colabora con múltiples CRO para el desarrollo clínico:

• IQVIA - Gestión de ensayos clínicos
• Parexel International - Servicios de desarrollo de medicamentos
• PPD (diagnóstico perceptivo) - Soporte de investigación clínica

Inversiones de asociación total: $ 80 millones

Número de colaboraciones de investigación activa: 7

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: actividades clave

Investigación y desarrollo terapéutico de regulación génica

A partir del cuarto trimestre de 2023, Syros Pharmaceuticals ha invertido $ 86.4 millones en gastos de investigación y desarrollo centrados específicamente en la terapéutica de la regulación génica.

Área de enfoque de investigación	Monto de inversión (2023)	Etapa de investigación
Terapéutica de regulación génica	$ 86.4 millones	Desarrollo avanzado
Plataformas de control de genes de cáncer	$ 42.3 millones	Preclínico/clínico

Descubrimiento de fármacos preclínicos y clínicos

Syros mantiene una tubería activa de descubrimiento de fármacos con múltiples candidatos en varias etapas de desarrollo.

• Candidatos de drogas activas totales: 6
• Candidatos de etapa preclínica: 3
• Candidatos en etapa clínica: 3
• Tiempo de desarrollo promedio por candidato: 4-6 años

Desarrollo de nuevos tratamientos para el cáncer y las enfermedades genéticas

La compañía se enfoca en desarrollar terapias dirigidas con mecanismos moleculares específicos.

Categoría de enfermedades	Número de programas activos	Estado de desarrollo actual
Oncología	4	Ensayos clínicos de fase 1/2
Enfermedades genéticas	2	Investigación preclínica

Realización de investigación molecular y genética avanzada

Syros emplea metodologías de investigación avanzadas con personal científico especializado.

• Personal de investigación total: 127 científicos
• Investigadores a nivel de doctorado: 68
• Instalaciones de investigación: 2 laboratorios de biología molecular dedicados
• Inversión anual de equipos de investigación: $ 5.2 millones

Avance de plataformas de control de genes patentados

La compañía ha desarrollado plataformas especializadas de tecnología de control de genes.

Tecnología de plataforma	Estado de patente	Áreas de aplicación potenciales
SY-5609	Patentado	Oncología
SY-1425	Patentado	Trastornos genéticos

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: recursos clave

Tecnología de la plataforma de control de genes patentados

Syros Pharmaceuticals ha desarrollado un plataforma de control de genes centrado en comprender los mecanismos de regulación génica.

Componente tecnológico	Detalles específicos
Nombre de la plataforma	Synrg (genómica reguladora de ácido nucleico de Syros)
Solicitudes de patentes	12 familias de patentes activas a partir de 2023
Inversión de investigación	$ 24.7 millones gastados en I + D en 2022

Cartera de propiedades intelectuales en la regulación génica

• 12 familias de patentes que cubren las tecnologías de control de genes
• Acuerdos de licencia exclusivos con instituciones de investigación
• Algoritmos propietarios para el análisis de expresión génica

Equipo de investigación científica con experiencia en genómica

Composición del equipo	Número
Personal de investigación total	87 empleados
Investigadores de doctorado	62 investigadores
Especialistas en genómica	45 científicos especializados

Instalaciones avanzadas de investigación de biología molecular

Infraestructura de investigación ubicada en Cambridge, Massachusetts.

Especificación de la instalación	Detalles
Espacio total de laboratorio	22,000 pies cuadrados
Inversión en equipos de investigación	$ 7.3 millones en equipos de biología molecular especializada
Plataformas de secuenciación genómica	3 sistemas de secuenciación de alto rendimiento

Capacidades de desarrollo clínico

• 3 programas terapéuticos activos en etapa clínica
• Oncología y enfoque de enfermedad genética
• Infraestructura de gestión de ensayos clínicos

Métricas de desarrollo clínico	2023 datos
Ensayos clínicos activos	4 pruebas en curso
Gasto de desarrollo clínico	$ 41.2 millones en 2022
Capacidad de inscripción al paciente	Pruebas de fase I/II múltiples

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: propuestas de valor

Enfoque terapéutico innovador de regulación génica

Syros Pharmaceuticals se centra en Terapéutica de regulación génica dirigida al control transcripcional. A partir del cuarto trimestre de 2023, la tubería de investigación de la compañía se concentra en el desarrollo de tratamientos que modulan la expresión génica.

Área de enfoque de investigación	Etapa actual	Indicación del objetivo potencial
Regulación transcriptional	Desarrollo preclínico/clínico	Cáncer, trastornos genéticos
SY-5609 Pequeña molécula	Ensayos clínicos de fase 1/2	Tumores sólidos avanzados

Potencios tratamientos dirigidos para cánceres difíciles de tratar

Syros ha desarrollado estrategias terapéuticas específicas que abordan específicamente los tipos de cáncer desafiantes.

• SY-5609: inhibidor de CDK7 dirigido a tumores sólidos avanzados
• Tamibaroteno: tratamiento de leucemia mieloide aguda (AML)
• Enfoques de oncología de precisión que se centran en las poblaciones de pacientes definidas genéticamente

Medicina de precisión dirigida a mecanismos genéticos específicos

Plataforma terapéutica	Mecanismo genético	Estado de desarrollo
Plataforma de control de genes	Regulación transcriptional	Investigación en curso
Identificación del controlador genético	Perfil genómico del cáncer	Fase de descubrimiento avanzado

Nuevas estrategias terapéuticas para los trastornos genéticos

Syros investiga enfoques innovadores para abordar los desafíos del trastorno genético a través de la modulación transcripcional.

• Tecnologías de regulación génica patentada
• Plataformas de análisis genómico computacional
• Estrategias de intervención terapéutica dirigidas

Desarrollo de tratamiento personalizado utilizando ideas genómicas avanzadas

Área de información genómica	Tecnología utilizada	Aplicación potencial
Perfil transcripcional	Secuenciación avanzada	Oncología de precisión
Análisis de variante genética	Algoritmos de aprendizaje automático	Terapéutica dirigida

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocios: relaciones con los clientes

Compromiso directo con la comunidad de investigación médica

A partir del cuarto trimestre de 2023, Syros Pharmaceuticals mantuvo la participación directa a través de:

Tipo de compromiso	Frecuencia	Público objetivo
Investigar seminarios web	4 por año	Investigadores de oncología
Reuniones de la junta asesora científica	2 por trimestre	Expertos de hematología líderes

Colaboración con socios de desarrollo farmacéutico

Métricas actuales de asociación farmacéutica:

• Asociaciones activas: 3 compañías farmacéuticas
• Acuerdos de investigación colaborativos totales: $ 12.5 millones en 2023
• Duración de la asociación: promedio de 2.5 años

Enfoque de desarrollo terapéutico centrado en el paciente

Las estrategias de participación del paciente incluyen:

Canal de interacción del paciente	Alcance anual
Programas de apoyo al paciente	1.200 pacientes
Sesiones de información de ensayos clínicos	250 participantes

Conferencia científica y participación en eventos de la industria

Datos de participación de la conferencia para 2023:

• CONFERENCIAS TOTALES CONTENIDAS: 7
• Presentaciones entregadas: 12
• Presentaciones de póster científicos: 5

Comunicación transparente sobre el progreso de la investigación

Métricas de transparencia de comunicación:

Canal de comunicación	Frecuencia	Alcance de la audiencia
Actualizaciones de investigación trimestrales	4 veces al año	3.500 partes interesadas
Llamadas de relaciones con los inversores	4 veces al año	250 inversores

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: canales

Comunicaciones científicas directas

Syros Pharmaceuticals utiliza estrategias de comunicación científica específicas con los siguientes canales:

Canal de comunicación	Público objetivo	Frecuencia
Comunicaciones directas por correo electrónico	Investigadores de oncología	Actualizaciones trimestrales
Informes científicos personalizados	Investigadores clínicos	Según sea necesario

Conferencias de la industria biotecnología y farmacéutica

Detalles de participación de la conferencia:

• Reunión anual de la Asociación Americana de Investigación del Cáncer (AACR)
• Congreso de la Sociedad Europea de Oncología Médica (ESMO)
• Conferencia Mundial de Medicina de Precisión

Publicaciones científicas revisadas por pares

Métricas de publicación para 2023:

Tipo de publicación	Número de publicaciones
Artículos de revistas revisados ​​por pares	7
Resúmenes de la conferencia científica	12

Comunicaciones de relaciones con los inversores

Canales de comunicación de inversores:

• Llamadas de ganancias trimestrales
• Reuniones anuales de accionistas
• Mazos de presentación de inversores
• SEC presentando comunicaciones

Plataformas de reclutamiento de ensayos clínicos

Estrategias de reclutamiento de ensayos clínicos:

Plataforma de reclutamiento	Número de pruebas activas
Clinicaltrials.gov	5 pruebas activas
Asociaciones en la red del hospital	12 redes de asociación

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: segmentos de clientes

Centros de tratamiento oncológico

Syros Pharmaceuticals se dirige a centros de tratamiento de oncología especializados que se centran en las terapias de cáncer basadas en genética. A partir del cuarto trimestre de 2023, el segmento principal de clientes de la compañía incluye:

Tipo de centro	Número estimado	Alcance del mercado potencial
Centros de cáncer integrales	51 centros designados por NCI	87% de los ensayos clínicos avanzados del cáncer
Centros de oncología genética especializadas	37 centros especializados	62% centrado en la investigación genética del cáncer

Instituciones de investigación de enfermedades genéticas

Syros se centra en instituciones de investigación especializadas en trastornos genéticos:

• Programas de investigación genética de los Institutos Nacionales de Salud (NIH)
• Top 25 centros de investigación médica académica
• Fundamentos de investigación genética privada

Tipo de institución de investigación	Número de clientes potenciales	Presupuesto de investigación anual
Instituciones de investigación académica	128 principales centros de investigación	$ 3.2 mil millones en fondos de investigación genética

Compañías farmacéuticas

Syros apunta a las compañías farmacéuticas interesadas en el desarrollo terapéutico basado en genética:

Categoría de empresa	Número de socios potenciales	Valor de colaboración potencial
Grandes compañías farmacéuticas	22 empresas farmacéuticas de primer nivel	Valor de colaboración potencial de $ 450 millones
Compañías de biotecnología	87 empresas de biotecnología especializadas	$ 210 millones de posibles inversiones de asociación

Laboratorios de investigación académica

Syros colabora con laboratorios de investigación académica especializados en investigación genética:

• Universidades de investigación de primer nivel
• Departamentos de investigación genética
• Laboratorios de medicina traslacional

Tipo de laboratorio	Número de colaboradores potenciales	Enfoque de investigación
Laboratorios de investigación genética	216 laboratorios especializados	Medicina de precisión y regulación génica

Grupos de pacientes con condiciones genéticas específicas

Syros identifica a los grupos de pacientes para terapias genéticas dirigidas:

Condición genética	Población de pacientes estimada	Mercado potencial de tratamiento
Cáncer de ovario	22,280 casos nuevos anualmente	Mercado potencial de $ 780 millones
Leucemia	60,530 casos nuevos anualmente	Mercado potencial de $ 1.2 mil millones

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Syros Pharmaceuticals reportó gastos totales de investigación y desarrollo de $ 95.3 millones.

Año	Gastos de I + D	Porcentaje de gastos totales
2023	$ 95.3 millones	68.4%
2022	$ 110.5 millones	71.2%

Costos de gestión de ensayos clínicos

Los gastos de ensayos clínicos para Syros Pharmaceuticals en 2023 fueron de aproximadamente $ 42.7 millones.

• Ensayos clínicos de fase 1: $ 18.2 millones
• Ensayos clínicos de fase 2: $ 24.5 millones

Protección de propiedad intelectual

La propiedad intelectual y los gastos relacionados con las patentes para 2023 totalizaron $ 3.6 millones.

Categoría de costos de IP	Cantidad
Presentación de patentes	$ 2.1 millones
Mantenimiento de patentes	$ 1.5 millones

Compensación de personal científico

Los gastos totales de personal para el personal científico en 2023 fueron de $ 52.4 millones.

• Salarios base: $ 38.6 millones
• Compensación basada en acciones: $ 9.2 millones
• Beneficios y otra compensación: $ 4.6 millones

Mantenimiento de la infraestructura tecnológica

Los costos de tecnología y mantenimiento de infraestructura para 2023 fueron de $ 7.2 millones.

Categoría de costos de infraestructura	Cantidad
Equipo de laboratorio	$ 4.5 millones
Sistemas de TI	$ 2.7 millones

Syros Pharmaceuticals, Inc. (SYRS) - Modelo de negocios: flujos de ingresos

Acuerdos potenciales de licencia de medicamentos futuros

A partir del cuarto trimestre de 2023, Syros Pharmaceuticals no tiene acuerdos de licencia de medicamentos activos que generan ingresos.

Asociaciones de colaboración de investigación

Pareja	Tipo de colaboración	Detalles financieros
Bristol Myers Squibb	Colaboración de investigación	Pago por adelantado de $ 50 millones en 2020

Pagos de hitos de socios farmacéuticos

Pagos potenciales de hitos de la colaboración de Bristol Myers Squibb, con cantidades de hitos específicos no revelados públicamente.

Venta de productos terapéuticos potenciales

No hay ventas actuales de productos terapéuticos a partir de 2024. Productos de tuberías en desarrollo:

• SY-5609 (inhibidor de CDK)
• SY-1425 (terapia dirigida)

Subvenciones de investigación gubernamental y privada

Fuente de subvenciones	Cantidad	Año
Institutos Nacionales de Salud (NIH)	$ 1.4 millones	2022

Ingresos totales para Syros Pharmaceuticals en 2022: $ 34.7 millones

Equivalentes en efectivo y efectivo a partir del tercer trimestre de 2023: $ 94.8 millones

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Value Propositions

You're looking at the core value Syros Pharmaceuticals, Inc. (SYRS) brings to the table-it's all about precision medicine driven by their gene control platform. The value proposition isn't just a drug; it's a novel way to attack diseases by modulating gene expression, which is a significant differentiator in oncology.

Novel approach to drug discovery by modulating gene expression (RAR$\alpha$ agonist).

The fundamental value is the proprietary gene control platform. This technology integrates genomics and chemical biology to target previously undruggable noncoding regions of the genome that drive disease. This approach aims to convert those hard-to-target gene drivers into precise medicines. For instance, the lead candidate, Tamibarotene, is an oral, selective retinoic acid receptor alpha (RAR$\alpha$) agonist, which directly addresses a specific genetic dependency in certain cancers.

Potential for new targeted therapies for hematologic malignancies.

The primary value centers on offering new standards of care for hematologic malignancies, specifically targeting patient subsets defined by molecular biomarkers. This precision is key to maximizing clinical benefit. The market potential here is substantial, reflecting a strong unmet need for targeted, well-tolerated options, especially for patients who cannot tolerate standard high-intensity chemotherapy.

Here's a look at the market opportunity that this targeted approach addresses:

Indication Segment	Metric	Value	Source Year/Estimate
Higher-Risk MDS (U.S.)	Total Market Opportunity	$1.6 billion	By 2029
Tamibarotene Potential Capture (HR-MDS)	Estimated Potential Revenue	Over $800 million
RARA-positive AML (Phase 2 Trial)	Complete Remission (CR) Increase (with standard therapy)	48%

Oral selective retinoic acid receptor alpha (RAR$\alpha$) agonist mechanism.

The mechanism itself is a core value driver. Tamibarotene, as an oral selective RAR$\alpha$ agonist, offers a convenient dosing route compared to intravenous treatments. The clinical data, such as the positive signals from the SELECT-AML-1 Phase 2 trial showing a 100% CR/CRi rate in a specific population, underscore the value of this mechanism in RARA-positive AML and HR-MDS. This focus on a specific genetic driver, RARA overexpression, allows for a highly focused development and commercial strategy.

Remaining deprioritized assets (e.g., SY-5609) available for partnering.

Even as the company focuses on its lead asset, the pipeline contains other valuable, de-risked assets that represent potential non-dilutive value through partnerships. SY-5609, a cyclin-dependent kinase 7 (CDK7) inhibitor, is one such asset. It has already achieved Orphan Drug Designation from the FDA for pancreatic cancer. This designation is a tangible value-add, offering market exclusivity incentives. While the company's strategic focus may shift, these assets provide optionality for collaboration or divestiture, helping to manage the burn rate. For context on the financial environment supporting this strategy, consider the recent operating metrics:

• Cash and cash equivalents as of September 30, 2024: $58.3 million.
• Anticipated cash runway extending into Q3 2025.
• Net Loss for Q3 2024: $6.4 million (or $0.16 per share).
• Annual Accounts Payable (latest reported): $11.544M.

The value here is the ability to maintain operations through critical data readouts while potentially offloading development costs for secondary assets. Honestly, managing that cash runway is a huge part of the near-term value proposition for investors.

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Customer Relationships

You're dealing with the aftermath of a pivotal trial failure and a subsequent corporate restructuring, so the nature of customer relationships for Syros Pharmaceuticals, Inc. shifts dramatically from growth-focused engagement to preservation and wind-down management.

High-touch engagement with institutional investors for capital raising

The most recent significant capital raising activity involved securing gross proceeds of approximately $45.0 million via an underwritten offering of common stock and pre-funded warrants, which closed on or about December 21, 2023. This historical engagement was crucial for funding operations, with cash reserves projected to last into the third quarter of 2025 based on September 30, 2024, figures of $58.3 million.

Investor engagement in late 2025 is characterized by managing the fallout from the delisting and the wind-down strategy. Institutional investors saw significant position reductions, with firms like BAIN CAPITAL LIFE SCIENCES INVESTORS, LLC removing 2,750,151 shares (-100.0%) in Q1 2025.

Direct communication with regulatory bodies (FDA) for clinical programs

Direct engagement with the U.S. Food and Drug Administration (FDA) centered on advancing tamibarotene. The FDA had granted Fast Track Designation for tamibarotene in the treatment of Unfit AML and previously for HR-MDS in January 2023. However, the primary relationship focus shifted following the failure of the SELECT-MDS-1 Phase 3 trial in November 2024, which did not meet its primary endpoint.

Communication post-trial failure would involve discussions related to the discontinuation of the SELECT-AML-1 Phase 2 trial and the wind-down plan, which was approved by the Board of Directors to limit expenditures under a budget approved by the secured lender.

Managing relationships with creditors due to loan default status

The failure of the SELECT-MDS-1 trial on November 2024 constituted an event of default under the secured loan facility with Oxford Finance LLC. This triggered a need for immediate, high-stakes management with the creditor. Syros Pharmaceuticals entered an agreement on February 28, 2025, to settle all outstanding debt obligations to Oxford Finance LLC for approximately $6 million, paid via a mix of cash and non-cash assets. This settlement satisfied all debts, though the default could have accelerated repayment of $43.6 million. As part of the agreement, Oxford received a first priority security interest in all intellectual property and Syros agreed to a wind-down budget.

Transparent communication with shareholders during delisting process

Shareholder communication was dominated by the decision to voluntarily delist from the Nasdaq Stock Market, effective on or about March 20, 2025. This followed the company notifying Nasdaq of its intention to file a Form 25 on or about March 10, 2025. The company cited non-compliance with listing standards, including the bid price closing below $1.00 per share for more than 35 consecutive business days. Following delisting, the intent was to file a Form 15 around March 20, 2025, to suspend reporting obligations under the Exchange Act, with deregistration expected 90 days after the Form 15 filing.

The company's stock price fell precipitously, trading at $0.14 on February 28, 2025, and dropping by 44.13% to $0.08 in premarket trading on March 3, 2025.

The key relationships and associated financial context are summarized below:

Relationship Focus	Key Metric/Amount	Date/Period Reference
Capital Raising (Historical)	Gross Proceeds of $45.0 million	December 2023
Creditor Settlement (Oxford Finance)	Settlement Amount of approximately $6 million	February 28, 2025
Loan Default Potential Acceleration	Potential Acceleration of $43.6 million	Post-November 2024 Default
Cash Runway Projection	Expected to fund operations into Q3 2025	Based on September 30, 2024, cash of $58.3 million
Shareholder Communication (Delisting)	Stock price reached $0.08 in premarket trading	March 3, 2025

The company's operational focus shifted to an orderly wind-down, which involved a 94% workforce reduction at one point following the trial failure.

• FDA Fast Track Designation for Tamibarotene in AML.
• Asset transfer of Tamibarotene-related data to Rege Nephro on February 26, 2025.
• Anticipated tax refund of approximately $2.4 million to aid financial strategy.
• The company's market capitalization was reported at $2.2 million around March 2025.

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Channels

You're looking at the channels Syros Pharmaceuticals, Inc. (SYRS) used to reach investors and partners as of late 2025, especially after the significant corporate restructuring following the November 2024 trial update. The shift from a public exchange to over-the-counter (OTC) trading fundamentally changed the investor channel.

Direct-to-investor communications via press releases and SEC filings

The primary channel for official corporate and financial updates remains filings with the Securities and Exchange Commission (SEC) and corresponding press releases. You should note the transition away from the regular quarterly/annual filing cadence following the voluntary delisting.

• The company filed an SC 13D/A on 03/27/2025.
• The last reported earnings date available was for Q3 2024, announced on October 31, 2024.
• Cash, cash equivalents and marketable securities as of June 30, 2024, stood at $79.0 million.
• Syros previously believed its cash position would fund operations into the third quarter of 2025.
• Following the November 2024 trial result, loan obligations totaling approximately $43.7 million were declared immediately due, with a partial repayment of $33.5 million made.

Scientific publications and presentations at medical conferences

Scientific communication channels are critical for validating the underlying science to the medical community and potential future partners. These presentations serve as a key non-financial channel for communicating value.

• Syros Pharmaceuticals presented a poster at the SOHO 12th Annual Meeting on September 4, 2024.
• The company planned to host an HR-MDS-focused Webcast Event on June 25, 2024.
• At the time of the September 2024 presentation, the company's market capitalization was reported as $41.02 million.

Nasdaq Stock Market for public trading (prior to March 2025 delisting)

The public exchange channel ceased to be active for Syros Pharmaceuticals in the first quarter of 2025. This was a deliberate move to reduce regulatory costs while conserving cash.

The voluntary delisting from the Nasdaq Stock Market was expected to become effective on or about March 20, 2025, following a Form 25 filing around March 10, 2025.

The non-compliance issues leading to this action included:

• Bid price closing below $1.00 per share for more than 35 consecutive business days.
• Market value of publicly held shares below the minimum $15M requirement for more than 35 consecutive business days.

The stock price on February 28, 2025, closed at $0.14, dropping to $0.08 in premarket trading on March 3, 2025. Current trading is on OTC Markets, where the market cap was recently cited as US$13.4k and the share price at US$0.000547.

Licensing and collaboration agreements for asset monetization

Asset monetization through partnerships is a core channel for non-revenue generating biotech firms. You can see the channel activity has been focused on winding down past deals and exploring new ones for remaining assets.

Key historical and ongoing partnership channel activities include:

Agreement/Asset Status	Counterparty/Asset	Date/Period	Financial Impact/Action
Collaboration Termination	Pfizer	Q2 2023	Resulted in $2.8 million revenue in Q2 2023; $0 revenue in Q1 2024.
Master Collaboration Agreement Termination	QIAGEN Manchester Limited	Notice on November 13, 2024	Agreement from March 7, 2022.
Asset Acquisition	Rege Nephro (for Tamibarotene-related assets)	April 2025	Acquired assets for U.S. clinical trials.
Business Development Exploration	CDK7 inhibitor asset	Late 2025 focus	Exploring opportunities for asset 5609.

The company is actively exploring business development opportunities for the CDK7 inhibitor asset, 5609, as a key monetization channel moving forward.

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Customer Segments

Biopharmaceutical companies seeking to acquire or license oncology assets

• US market opportunity cited for Tamibarotene in higher-risk MDS with RARA overexpression: over $800 million.
• Lead product candidate Tamibarotene was in Phase III clinical trial for myelodysplastic syndrome and Phase II for acute myeloid leukemia as of late 2024/early 2025.
• SY-5609, a cyclin-dependent kinase 7 inhibitor, was in a Phase I clinical trial in patients with select advanced solid tumors.
• The company announced a voluntary delisting from Nasdaq and SEC deregistration in February 2025.

Institutional and venture capital investors focused on distressed biotech

The investor base structure as of early 2025 showed specific institutional engagement:

Metric	Value
Total Institutional Investors (Pre-Delisting Context)	22
Institutions Filing 13D/G or 13F Forms (Early 2025)	10
Total Shares Held by Filing Institutions (Early 2025)	904
Analyst Coverage (Late 2024/Early 2025)	4

The financial position leading into the wind-down phase included:

• Cash position at end of Q3 2024: $58.3 million.
• Cash runway guided to fund operations into Q3 2025.
• EBITDA (Last Twelve Months, late 2024 context): -$110.18 million.
• Current Ratio (late 2024 context): 2.25.
• Stock price as of March 19, 2025: $0.12 per share.
• Market capitalization following November 13, 2024 trial news: $5.56 million.

Patients with hematologic malignancies (e.g., AML, MDS) (indirectly)

• Lead candidate Tamibarotene targets RARA-positive patients with higher-risk myelodysplastic syndrome (HR-MDS) and acute myeloid leukemia (AML).
• SY-2101 is being developed for the treatment of acute promyelocytic leukemia (APL).
• The company employed 117 full-time employees as of December 31, 2023.

Academic and clinical research collaborators

• Total Funding raised by Syros Pharmaceuticals, Inc. through its history: $124 million over 7 rounds.
• Largest funding round: Post IPO, $130 million in September 2022.
• Annual Revenue as of December 31, 2023: $9.94 million.
• R&D Expenses reported for Q3 2024: $20.5 million.
• G&A Expenses reported for Q3 2024: $5.7 million.

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Cost Structure

You're looking at the cost side of Syros Pharmaceuticals, Inc. (SYRS) as of late 2025, and honestly, the numbers tell a story of intense focus driven by recent, significant financial pressure. The cost structure is dominated by the necessary, high-stakes investment in research and development, coupled with the immediate, sharp costs of a major corporate restructuring.

The primary ongoing operational cost is Research and Development (R&D), which reflects the company's singular focus on advancing tamibarotene. For the third quarter of 2024, R&D expenses were reported at $20.5 million. This was a reduction from $28.3 million in Q3 2023, primarily due to cutting external R&D consulting, contract manufacturing, and headcount reductions. This spending is principally directed toward the advancement of tamibarotene.

General and Administrative (G&A) expenses also saw a reduction, coming in at $5.7 million for Q3 2024, down from $7.8 million the prior year. This decrease was largely driven by lower headcount and related expenses, consulting fees, and facilities costs.

The most dramatic cost event relates to debt and restructuring. Following the failure of the SELECT-MDS-1 Phase 3 trial in November 2024, an event of default was triggered under the loan agreement with Oxford Finance LLC, which initially allowed the lender to declare the repayment of $43.6 million immediately due and payable. This potential liability forced immediate, drastic action.

To manage this, Syros Pharmaceuticals initiated significant workforce reduction and corporate restructuring costs. The response included a drastic workforce reduction of 94% to curb costs and maximize stakeholder value. However, the ultimate financial resolution for the debt was a settlement in early 2025. Here's a quick look at the key cost components and the resulting financial position as of that restructuring period:

Cost Component / Metric	Amount / Value	Period / Date
Research and Development (R&D) Expenses	$20.5 million	Q3 2024
General and Administrative (G&A) Expenses	$5.7 million	Q3 2024
Potential Accelerated Debt Obligation (Upon Default)	$43.6 million	Post-November 2024
Debt Settlement Payment (Cash & Non-Cash Assets)	Approximately $6 million	February 28, 2025
Workforce Reduction Magnitude	94%	Post-Default Restructuring
Cash on Hand (Pre-Settlement Context)	$58.3 million	September 30, 2024

The company's cost-cutting efforts were clearly designed to extend its runway. Based on the cash position as of September 30, 2024, Syros Pharmaceuticals believed its existing cash and cash equivalents would be sufficient to fund anticipated operating expenses and capital expenditure requirements into the third quarter of 2025. The settlement of the debt for approximately $6 million, which included non-cash assets, was a critical step in stabilizing the cost structure following the default event.

The major cost drivers that you need to track going forward are tied to the remaining operational burn rate, which is now significantly leaner due to restructuring. You should keep an eye on these specific areas:

• R&D expenditures, now principally focused on tamibarotene advancement.
• Costs associated with any remaining corporate infrastructure.
• The impact of the 94% workforce reduction on future operational capacity.
• The final cash utilization rate following the debt discharge.

The net loss for Q3 2024 was $6.4 million, a substantial improvement from the $40.1 million net loss in Q3 2023, directly illustrating the impact of reduced operating expenses. Finance: draft 13-week cash view by Friday.

Syros Pharmaceuticals, Inc. (SYRS) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Syros Pharmaceuticals, Inc. (SYRS) as of late 2025, and honestly, the picture is one of transition, moving away from past partnerships toward a potential self-commercialization model for tamibarotene. The immediate past shows a significant drop-off in recognized revenue.

For the trailing twelve months ending September 30, 2024, Syros Pharmaceuticals, Inc. recorded a minimal revenue figure. This low number reflects the structural shift in the company's operational focus and prior agreements. Here's a quick look at the most recent hard numbers we have:

Metric	Amount/Period	Notes
Trailing Twelve-Month (TTM) Revenue	$386.00K	As of September 30, 2024.
Q3 2024 Collaboration Revenue	Zero	Compared to $3.8 million in Q3 2023.
Reason for Zero Collaboration Revenue	Termination of Pfizer collaboration	Reflects the end of the prior partnership.

The zero collaboration revenue in the third quarter of 2024 is a direct consequence of the termination of the collaboration agreement with Pfizer. So, the current revenue generation is not reliant on those prior structures.

One key element that could provide a one-time financial boost relates to the asset divestiture. Syros Pharmaceuticals completed the sale of Tamibarotene-related clinical and non-clinical assets to Rege Nephro Co., Ltd. on February 26, 2025. This transaction included human safety study data for an NDA, contracts with a contract manufacturing organization (CMO), and the Tamibarotene active pharmaceutical ingredient (API) and drug products. While the specific one-time payment amount isn't public, this deal represents a potential, non-recurring revenue event that has already been executed.

Looking forward, the revenue model is heavily weighted toward the potential success of tamibarotene as a frontline treatment for higher-risk myelodysplastic syndrome (HR-MDS) patients with RARA gene overexpression. The company plans for an independent U.S. launch upon NDA approval, which shifts the revenue potential from milestone/royalty structures to direct product sales, though future out-licensing deals remain a possibility for other pipeline assets.

The streams that could materialize from out-licensed programs, should any future deals be struck or existing ones have residual value, include:

• Future milestone payments from successful development or regulatory achievements on out-licensed programs.
• Royalty payments based on net sales of any successfully commercialized, out-licensed products.

To be fair, the current strategy is centered on capturing the full commercial upside of tamibarotene, which has a projected U.S. market opportunity of over $800 million by 2029 for the RARA-overexpressing patient segment alone. Finance: draft the pro-forma revenue model incorporating the Rege Nephro payment by next Tuesday.