BUZZ-Syros Pharmaceuticals hits record low on QIAGEN deal termination and leadership changes

Reuters

2024-11-19

BUZZ-Syros Pharmaceuticals hits record low on QIAGEN deal termination and leadership changes

** Shares of Syros Pharmaceuticals SYRS.O down 24.1% at $0.20, trading at an all-time low

** Co terminates its partnership with QIAGEN Manchester Limited after a clinical trial for its blood cancer treatment, tamibarotene, failed to meet its main goal

** Implements reduction in workforce by about 94%

** In connection with the workforce reduction, CEO Conley Chee and CFO Jason Haas will be terminated without cause, effective Nov. 22

** SYRS appoints Gerald Quirk as president and CEO

** Including session's gains, stock has fallen 97.4% YTD

(Reporting by Nithyashree R B)

((NithyashreeRB@thomsonreuters.com))

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