Syros (SYRS) Rises on Upbeat Initial Study Data on Tamibarotene
Shares of Syros Pharmaceuticals, Inc. SYRS were up 42.5% on Dec 6 after the company announced positive initial data from the phase II SELECT-AML-1 study evaluating tamibarotene, its oral, selective, retinoic acid receptor alpha agonist.
The ongoing SELECT-AML-1 study is investigating the safety and efficacy of tamibarotene in combination with venetoclax and azacitidine in newly diagnosed, unfit patients with acute myeloid leukemia (“AML”) and RARA gene overexpression.
The primary endpoint of the study is to check the complete response rate (CR)/complete response with incomplete hematologic recovery (Cri).
Initial data from the study showed that patients treated with the combination of tamibarotene plus venetoclax and azacytidine had a 100% CR/CRi rate as compared with 70% of patients who were treated with venetoclax and azacytidine alone.
Per the company, the triplet regimen of tamibarotene plus venetoclax and azacytidine continues to demonstrate a favorable tolerability profile in the given patient population.
Additional data from the SELECT-AML-1 study is expected in 2024.
Shares of Syros have rallied 12% year to date against the industry’s decline of 20.9%.
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Apart from AML, tamibarotene is also being evaluated in a phase III SELECT-MDS-1 study in combination with azacitidine in patients with higher-risk myelodysplastic syndrome (HR-MDS). Enrollment in the study is expected to be completed in the first quarter of 2024, while pivotal CR data is expected by the middle of the fourth quarter of 2024.
We note that, in October 2023, Syros entered into a strategic realignment focused on prioritizing development and pre-launch activities, advancing tamibarotene for the frontline treatment of HR-MDS and AML.
As part of this strategic realignment, Syros stopped the clinical development of its other candidate, SY-2101, for the treatment of newly diagnosed acute promyelocytic leukemia.
In the absence of a marketed product in its portfolio, the successful development of tamibarotene remains a key focus for the company.
Zacks Rank & Stocks to Consider
Syros currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the healthcare sector are Aquestive Therapeutics, Inc. AQST, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Aquestive Therapeutics’ 2023 loss per share have narrowed from 25 cents to 7 cents. Meanwhile, loss per share estimates for 2024 have narrowed from 56 cents to 34 cents. Year to date, shares of AQST have surged 128.4%.
Earnings of Aquestive Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. AQST delivered a four-quarter earnings surprise of 70.58%, on average.
In the past 60 days, estimates for Entrada Therapeutics’ 2023 loss per share have narrowed from $2.07 to 9 cents. Meanwhile, loss per share estimates for 2024 have narrowed from $2.35 to $2.04. Year to date, shares of TRDA have increased 1.9%.
Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 72 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 64 cents. Year to date, shares of PBYI have lost 7.8%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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