Nancy Simonian, a director at Syros Pharmaceuticals, Inc. (NASDAQ:SYRS), recently sold 37,070 shares of the company's common stock. The shares were sold at a weighted average price of $0.2702, resulting in a total transaction value of $10,016. This insider sale comes as the company's stock has declined over 91% in the past year, with the current market capitalization standing at just $6.63 million. According to InvestingPro analysis, Syros currently shows weak financial health with an overall score of 1.12. Following this sale, Simonian holds 4,000 shares of the company. The sales occurred on December 2, 2024, as disclosed in a recent SEC filing. Want deeper insights into insider trading patterns and 15+ additional ProTips? InvestingPro subscribers get access to comprehensive insider trading analysis and detailed financial health metrics for over 1,400 US stocks.
In other recent news, Syros Pharmaceuticals has experienced significant developments. The company reported no revenue for Q3 2024 and a net loss of $6.4 million. Despite this financial performance, Syros maintains sufficient cash reserves to fund operations into Q3 2025. The company's SELECT-MDS-1 Phase 3 trial, which was testing tamibarotene combined with azacitidine, did not meet its primary goal, leading to a termination of the trial. These developments have prompted stock downgrades by H.C. Wainwright, TD Cowen, and JMP Securities. Syros has also announced a major workforce reduction and the termination of a key agreement. The company is currently negotiating a forbearance agreement with Oxford Finance LLC following a default notice on a loan. These are the recent developments in Syros Pharmaceuticals' journey.
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