Syros Pharmaceuticals (NASDAQ:SYRS) stock is falling hard on Tuesday after the biopharmaceutical company provided an update on a Phase 2 clinical trial.
Syros Pharmaceuticals has announced that it is discontinuing enrollment in its SELECT-AML-1 Phase 2 clinical trial following a prespecified interim analysis of the study.
The SELECT-AML-1 Phase 2 clinical trial was evaluating the effectiveness of tamibarotene as a treatment for patients with acute myeloid leukemia (AML) and RARA gene overexpression. This was in combination with venetoclax and azacitidine.
Data from 51 patients shows similar complete response rates to using venetoclax and azacitidine alone to treat patients. This makes it unlikely that the trial will meet its primary endpoint after analyzing the expected 80 patients.
What This Means for SYRS Stock
Syros Pharmaceuticals shares are seeing strong trading this morning alongside this study update. As of this writing, nearly 1 million units are on the move, well above its daily average trading volume of about 118,000 shares.
SYRS stock is down 62.3% as of Tuesday morning. When markets closed yesterday, it was also down 36.1% year-to-date.
Investors will want to keep reading for even more of the most recent stock market stories!
We have all of the hottest stock market news that traders need to know about on Tuesday! A few examples include what’s happening with shares of CXApp (NASDAQ:CXAI) and Vicinity Motor (NASDAQ:VEV) stock, as well as the biggest pre-market stock movers today. You can catch up on all of this news at the following links!
More Tuesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
