Syros Pharmaceuticals, Inc. (SYRS): Business Model Canvas [Jan-2025 Mis à jour]

Syros Pharmaceuticals, Inc. (SYRS) révolutionne le paysage biotechnologique avec son approche thérapeutique révolutionnaire de la régulation des gènes, se positionnant à la pointe de la médecine de précision. En tirant parti d'une plate-forme de contrôle des gènes propriétaire sophistiqué, la société est un pionnier des traitements innovants qui ciblent les cancers et les troubles génétiques difficiles avec une précision moléculaire sans précédent. Leur modèle commercial unique représente une fusion audacieuse de la recherche génomique avancée, des partenariats stratégiques et du développement thérapeutique transformateur, promettant de remodeler la façon dont nous comprenons et combattons les maladies génétiques complexes.

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: partenariats clés

Établissements de recherche universitaire

Syros Pharmaceuticals maintient des partenariats stratégiques avec les établissements de recherche universitaires suivants:

Institution	Focus de recherche	Statut de collaboration
Dana-Farber Cancer Institute	Régulation des gènes en oncologie	Partenariat actif
Institut de technologie du Massachusetts (MIT)	Recherche génomique	Collaboration continue

Collaborateurs pharmaceutiques

Syros a établi des partenariats pharmaceutiques clés pour les essais cliniques et la découverte de médicaments:

• Bristol Myers Squibb - Contrat de collaboration signé en 2022
• Roche Pharmaceuticals - Partenariat de recherche stratégique

Investisseurs stratégiques

Syros Pharmaceuticals a obtenu des investissements des sociétés de capital-risque suivantes:

Investisseur	Montant d'investissement	Année
Pionnier phare	45 millions de dollars	2021
Conseillers orbimés	35 millions de dollars	2020

Organisations de recherche contractuelle

Syros collabore avec plusieurs CRO pour le développement clinique:

• IQVIA - Gestion des essais cliniques
• Parexel International - Services de développement des médicaments
• PPD (Diagnostics perspicace) - soutien de la recherche clinique

Investissements totaux de partenariat: 80 millions de dollars

Nombre de collaborations de recherche active: 7

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: activités clés

Régulation des gènes Recherche et développement thérapeutiques

Au quatrième trimestre 2023, Syros Pharmaceuticals a investi 86,4 millions de dollars dans les dépenses de recherche et développement spécifiquement axées sur la thérapeutique de la régulation des gènes.

Domaine de mise au point de recherche	Montant d'investissement (2023)	Étape de recherche
Thérapeutique de régulation des gènes	86,4 millions de dollars	Développement avancé
Plateformes de contrôle des gènes du cancer	42,3 millions de dollars	Préclinique / clinique

Découverte de médicaments à stade préclinique et clinique

Syros maintient un pipeline de découverte de médicaments actif avec plusieurs candidats à divers stades de développement.

• Total des candidats en médicament actif: 6
• Candidats de la scène préclinique: 3
• Candidats à la scène clinique: 3
• Temps de développement moyen par candidat: 4-6 ans

Développer de nouveaux traitements pour le cancer et les maladies génétiques

L'entreprise se concentre sur le développement de thérapies ciblées avec des mécanismes moléculaires spécifiques.

Catégorie de maladie	Nombre de programmes actifs	État de développement actuel
Oncologie	4	Essais cliniques de phase 1/2
Maladies génétiques	2	Recherche préclinique

Effectuer une recherche moléculaire et génétique avancée

Syros utilise des méthodologies de recherche avancées avec du personnel scientifique spécialisé.

• Personnel de recherche total: 127 scientifiques
• Chercheurs au niveau du doctorat: 68
• Installations de recherche: 2 laboratoires de biologie moléculaire dédiés
• Investissement annuel d'équipement de recherche: 5,2 millions de dollars

Plateformes de contrôle des gènes propriétaires avancées

L'entreprise a développé des plateformes de technologie de contrôle des gènes spécialisées.

Technologie de plate-forme	Statut de brevet	Zones d'application potentielles
SY-5609	Breveté	Oncologie
SY-1425	Breveté	Troubles génétiques

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: Ressources clés

Technologie de plate-forme de contrôle des gènes propriétaire

Syros Pharmaceuticals a développé un plate-forme de contrôle des gènes axé sur la compréhension des mécanismes de régulation des gènes.

Composant technologique	Détails spécifiques
Nom de la plate-forme	Synrg (génomique régulateur de l'acide nucléique Syros)
Demandes de brevet	12 familles de brevets actives à partir de 2023
Investissement en recherche	24,7 millions de dollars dépensés en R&D en 2022

Portfolio de propriété intellectuelle dans la régulation des gènes

• 12 familles de brevets couvrant les technologies de contrôle des gènes
• Accords de licence exclusifs avec des institutions de recherche
• Algorithmes propriétaires pour l'analyse de l'expression des gènes

Équipe de recherche scientifique avec une expertise en génomique

Composition de l'équipe	Nombre
Personnel de recherche total	87 employés
Chercheurs de doctorat	62 chercheurs
Spécialistes de la génomique	45 scientifiques spécialisés

Installations de recherche de biologie moléculaire avancée

Infrastructure de recherche située à Cambridge, Massachusetts.

Spécification de l'installation	Détails
Espace de laboratoire total	22 000 pieds carrés
Investissement de l'équipement de recherche	7,3 millions de dollars en équipement de biologie moléculaire spécialisée
Plates-formes de séquençage génomique	3 systèmes de séquençage à haut débit

Capacités de développement clinique

• 3 programmes thérapeutiques à stade clinique actif
• L'oncologie et les maladies génétiques se concentrent
• Infrastructure de gestion des essais cliniques

Métriques de développement clinique	2023 données
Essais cliniques actifs	4 essais en cours
Dépenses de développement clinique	41,2 millions de dollars en 2022
Capacité d'inscription des patients	Essais multiples de phase I / II

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: propositions de valeur

Approche thérapeutique de la régulation des gènes innovantes

Syros Pharmaceuticals se concentre sur Régulation des gènes thérapeutiques ciblant le contrôle transcriptionnel. Depuis le quatrième trimestre 2023, le pipeline de recherche de l'entreprise se concentre sur le développement de traitements qui modulent l'expression des gènes.

Domaine de mise au point de recherche	Étape actuelle	Indication cible potentielle
Régulation transcriptionnelle	Développement préclinique / clinique	Cancer, troubles génétiques
SY-5609 petite molécule	Essais cliniques de phase 1/2	Tumeurs solides avancées

Traitements ciblés potentiels pour les cancers difficiles à traiter

Syros a développé des stratégies thérapeutiques ciblées abordées spécifiquement des types de cancer difficiles.

• SY-5609: inhibiteur de CDK7 ciblant les tumeurs solides avancées
• Tamibarotène: Traitement de leucémie myéloïde aiguë (LMA)
• Approches en oncologie de précision axées sur les populations de patients définis génétiquement

Médecine de précision ciblant les mécanismes génétiques spécifiques

Plate-forme thérapeutique	Mécanisme génétique	Statut de développement
Plate-forme de contrôle des gènes	Régulation transcriptionnelle	Recherche en cours
Identification génétique du conducteur	Profilage génomique du cancer	Phase de découverte avancée

Nouvelles stratégies thérapeutiques pour les troubles génétiques

Syros étudie les approches innovantes pour relever les défis des troubles génétiques grâce à la modulation transcriptionnelle.

• Technologies de régulation des gènes propriétaires
• Plateformes d'analyse génomique informatique
• Stratégies d'intervention thérapeutique ciblées

Développement du traitement personnalisé à l'aide de perspectives génomiques avancées

Zone de perspicacité génomique	Technologie utilisée	Application potentielle
Profilage transcriptionnel	Séquençage avancé	Oncologie de précision
Analyse de variantes génétiques	Algorithmes d'apprentissage automatique	Thérapeutique ciblée

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: relations avec les clients

Engagement direct avec la communauté de la recherche médicale

Depuis le quatrième trimestre 2023, Syros Pharmaceuticals a maintenu un engagement direct à travers:

Type d'engagement	Fréquence	Public cible
Webinaires de recherche	4 par an	Chercheurs en oncologie
Réunions du conseil consultatif scientifique	2 par trimestre	Experts en hématologie de premier plan

Collaboration avec des partenaires de développement pharmaceutique

Métriques actuelles de partenariat pharmaceutique:

• Partenariats actifs: 3 sociétés pharmaceutiques
• Accords de recherche collaborative totale: 12,5 millions de dollars en 2023
• Durée du partenariat: moyenne 2,5 ans

Approche de développement thérapeutique axé sur les patients

Les stratégies d'engagement des patients comprennent:

Canal d'interaction du patient	Portée annuelle
Programmes de soutien aux patients	1 200 patients
Séances d'information sur les essais cliniques	250 participants

Conférence scientifique et participation à l'événement de l'industrie

Données d'engagement de la conférence pour 2023:

• Conférences totales présentes: 7
• Présentations livrées: 12
• Présentations des affiches scientifiques: 5

Communication transparente sur les progrès de la recherche

Métriques de transparence de la communication:

Canal de communication	Fréquence	Poutenir
Mises à jour de la recherche trimestrielle	4 fois par an	3 500 parties prenantes
Appels de relations avec les investisseurs	4 fois par an	250 investisseurs

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: canaux

Communications scientifiques directes

Syros Pharmaceuticals utilise des stratégies de communication scientifiques ciblées avec les canaux suivants:

Canal de communication	Public cible	Fréquence
Communications par e-mail directes	Chercheurs en oncologie	Mises à jour trimestrielles
Briefings scientifiques personnalisés	Enquêteurs cliniques	Au besoin

Conférences de la biotechnologie et de l'industrie pharmaceutique

Détails de la participation de la conférence:

• Réunion annuelle de l'American Association for Cancer Research (AACR)
• Congrès de la Société européenne pour l'oncologie médicale (ESMO)
• Conférence du monde de la médecine de précision

Publications scientifiques évaluées par des pairs

Métriques de publication pour 2023:

Type de publication	Nombre de publications
Articles de revues évaluées par des pairs	7
Résumés de la conférence scientifique	12

Communications des relations avec les investisseurs

Canaux de communication des investisseurs:

• Appels de résultats trimestriels
• Réunions annuelles des actionnaires
• Disques de présentation des investisseurs
• Communications de classement SEC

Plateformes de recrutement d'essais cliniques

Stratégies de recrutement des essais cliniques:

Plate-forme de recrutement	Nombre d'essais actifs
ClinicalTrials.gov	5 essais actifs
Partenariats de réseaux hospitaliers	12 réseaux de partenariat

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: segments de clients

Centres de traitement en oncologie

Syros Pharmaceuticals cible des centres de traitement en oncologie spécialisés axés sur les thérapies par cancer à base de génétique. Depuis le quatrième trimestre 2023, le principal segment de clientèle de l'entreprise comprend:

Type de centre	Nombre estimé	Portée du marché potentiel
Centres de cancer complets	51 centres désignés par le NCI	87% des essais cliniques du cancer avancé
Centres d'oncologie génétique spécialisés	37 centres spécialisés	62% axés sur la recherche sur le cancer génétique

Institutions de recherche sur les maladies génétiques

Syros se concentre sur les institutions de recherche spécialisées dans les troubles génétiques:

• Programmes de recherche génétique des National Institutes of Health (NIH)
• Top 25 des centres de recherche médicale académique
• Fondations de recherche génétique privée

Type d'institution de recherche	Nombre de clients potentiels	Budget de recherche annuel
Établissements de recherche universitaire	128 principaux centres de recherche	3,2 milliards de dollars de financement de recherche génétique

Sociétés pharmaceutiques

Syros cible les sociétés pharmaceutiques intéressées par le développement thérapeutique basé sur la génétique:

Catégorie d'entreprise	Nombre de partenaires potentiels	Valeur de collaboration potentielle
Grandes sociétés pharmaceutiques	22 entreprises pharmaceutiques de haut niveau	Valeur de collaboration potentielle de 450 millions de dollars
Biotechnology Companies	87 entreprises biotechnologiques spécialisées	210 millions de dollars d'investissements en partenariat potentiel

Laboratoires de recherche universitaire

Syros collabore avec des laboratoires de recherche universitaire spécialisés dans la recherche génétique:

• Universités de recherche de haut niveau
• Départements de recherche génétique
• Laboratoires de médecine translationnelle

Type de laboratoire	Nombre de collaborateurs potentiels	Focus de recherche
Laboratoires de recherche génétique	216 laboratoires spécialisés	Médecine de précision et régulation des gènes

Groupes de patients avec des conditions génétiques spécifiques

Syros identifie les groupes de patients pour les thérapies génétiques ciblées:

Condition génétique	Population estimée des patients	Marché du traitement potentiel
Cancer de l'ovaire	22 280 nouveaux cas par an	Marché potentiel de 780 millions de dollars
Leucémie	60 530 nouveaux cas par an	Marché potentiel de 1,2 milliard de dollars

Syros Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Syros Pharmaceuticals a déclaré des frais de recherche et de développement totaux de 95,3 millions de dollars.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2023	95,3 millions de dollars	68.4%
2022	110,5 millions de dollars	71.2%

Coûts de gestion des essais cliniques

Les dépenses des essais cliniques pour Syros Pharmaceuticals en 2023 étaient d'environ 42,7 millions de dollars.

• Essais cliniques de phase 1: 18,2 millions de dollars
• Essais cliniques de phase 2: 24,5 millions de dollars

Protection de la propriété intellectuelle

La propriété intellectuelle et les dépenses liées aux brevets pour 2023 ont totalisé 3,6 millions de dollars.

Catégorie de coûts IP	Montant
Dépôt de brevet	2,1 millions de dollars
Entretien de brevets	1,5 million de dollars

Compensation du personnel scientifique

Les dépenses totales du personnel pour le personnel scientifique en 2023 étaient de 52,4 millions de dollars.

• Salaires de base: 38,6 millions de dollars
• Compensation à base d'actions: 9,2 millions de dollars
• Avantages et autres rémunérations: 4,6 millions de dollars

Maintenance des infrastructures technologiques

Les coûts de maintenance de la technologie et des infrastructures pour 2023 étaient de 7,2 millions de dollars.

Catégorie de coûts d'infrastructure	Montant
Équipement de laboratoire	4,5 millions de dollars
Systèmes informatiques	2,7 millions de dollars

SYROS Pharmaceuticals, Inc. (SYRS) - Modèle d'entreprise: sources de revenus

Accords potentiels de licence de médicament potentiel

Depuis le quatrième trimestre 2023, Syros Pharmaceuticals n'a aucun accord de licence de médicament actif générant des revenus.

Partenariats de collaboration de recherche

Partenaire	Type de collaboration	Détails financiers
Bristol Myers Squibb	Collaboration de recherche	Paiement initial de 50 millions de dollars en 2020

Paiements d'étape des partenaires pharmaceutiques

Payments de jalon potentiels de la collaboration de Bristol Myers Squibb, avec des montants spécifiques non divulgués publiquement.

Ventes de produits thérapeutiques potentiels

Aucune vente de produits thérapeutiques actuelle en 2024. Produits de pipeline en développement:

• SY-5609 (inhibiteur CDK)
• SY-1425 (thérapie ciblée)

Subventions de recherche gouvernementales et privées

Source d'octroi	Montant	Année
National Institutes of Health (NIH)	1,4 million de dollars	2022

Revenus totaux pour Syros Pharmaceuticals en 2022: 34,7 millions de dollars

Cash and Cash équivalents au T3 2023: 94,8 millions de dollars

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.