Cancer-Focused Syros Pharmaceuticals Stops Mid-Stage Leukemia Combo Therapy Study, Cites Disappointing Unexpected Outcome
Portfolio Pulse from Vandana Singh
Syros Pharmaceuticals (NASDAQ:SYRS) announced the discontinuation of its SELECT-AML-1 Phase 2 trial for a leukemia treatment due to disappointing interim results. The trial compared a triplet regimen including tamibarotene, venetoclax (marketed by AbbVie Inc. and Roche Holdings AG), and azacitidine (marketed by Bristol Myers Squibb & Co) to a doublet regimen. The stock of Syros Pharmaceuticals dropped by 60.50% following the news.
August 13, 2024 | 1:41 pm
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Syros Pharmaceuticals announced the discontinuation of its SELECT-AML-1 Phase 2 trial due to disappointing interim results. The stock dropped by 60.50%.
The discontinuation of the SELECT-AML-1 trial is a significant setback for Syros Pharmaceuticals, leading to a sharp decline in its stock price. The trial's failure to show superiority in the interim analysis directly impacts investor confidence and the company's future prospects in leukemia treatment.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
AbbVie Inc. markets venetoclax, one of the drugs used in the discontinued SELECT-AML-1 trial by Syros Pharmaceuticals.
While AbbVie Inc. markets venetoclax, the discontinuation of the SELECT-AML-1 trial by Syros Pharmaceuticals is unlikely to have a significant impact on AbbVie's stock. Venetoclax is used in multiple other treatments and trials.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Bristol Myers Squibb markets azacitidine, one of the drugs used in the discontinued SELECT-AML-1 trial by Syros Pharmaceuticals.
Bristol Myers Squibb markets azacitidine, but the discontinuation of the SELECT-AML-1 trial by Syros Pharmaceuticals is unlikely to significantly impact Bristol Myers Squibb's stock. Azacitidine is used in various other treatments and trials.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Roche Holdings AG markets venetoclax, one of the drugs used in the discontinued SELECT-AML-1 trial by Syros Pharmaceuticals.
Roche Holdings AG markets venetoclax, but the discontinuation of the SELECT-AML-1 trial by Syros Pharmaceuticals is unlikely to significantly impact Roche's stock. Venetoclax is used in various other treatments and trials.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50