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NASDAQSYRS Share Value Drops by 26%

Syros Pharmaceuticals Inc. (NASDAQ: SYRS) is a well-known biopharmaceutical company that develops treatments for diseases like cancer, immune-issue, and so on. Also, SYRS manufactures gene control medicines and supplies them worldwide.

After SYRS recently announced its stock price offering, its shares fell drastically by 26%. It is reported that Syros Pharmaceuticals Inc. might sell 8.7 million of its shares to the common stock market at USD 7.50 per share price. The company expects to gain 70 million dollars through the share selling. So, are you thinking about whether it is the right time to invest or not? Let’s check out the current status of the NASDAQ: SYRS at https://www.webull.com/quote/nasdaq-syrs stock value.

NASDAQ: SYRS Current Status:

Syros Pharmaceuticals Inc. (NASDAQ: SYRS) currently holds a market capitalization value of 545.03 million. SYRS stock price went down by 11.91 USD on 14th August by the rate of -1.33%. It opened trading with a value of 12.03 USD and had the highest pick at 12.05 while the lowest pick was at 11.78. As a result, the SYRS stock value went down by 26% as compared to last year’s value. Its 52-week high value is by 12.07 while 52 weeks low value is at 12.75. Besides that, SYRS closed at USD 12.07.

SYRS 2020 Second Quarter Financial Result Highlights:

Just a few days back, Syros Pharmaceuticals Inc. (NASDAQ: SYRS) revealed the 2020 second-quarter financial results. With a net loss of USD 17.2 million, SYRS reported that their share value has dropped by $0.38 per share. Last year, SRYS suffered a net loss of $19.5 million which is equivalent to share value decreasing by $0.47 per share. Now, here are the top highlights of SYRS second-quarter results:

  • Revenue generated in the second quarter is $3.2 million which is $0.5 million less than the last time. Among the generated revenue, $2.5 million is under STRESs collaboration with GBT and $0.7 million is under Incyte Corporation, another collaboration of SYRS.
  • NASDAQ: SYRS R&D (Research and Development) expenses are around $14.8 million as compared to its previous results which were $15.5 million. R&D expenses decreased because of the de-prioritization of SY-1365.
  • In the second quarter, G&A (General and administrative) expenses of SYRS were $5.1 million which is almost the same as the last time.

Cash and marketable securities of NASDAQ: SYRS is $108.7 million among which $91.4 million comes under cash and cash equivalent categories. If you compare this value with previous years, the increase reflects a $20 million upfront payment which SYRS received after the collaboration with GBT (Global Blood Therapeutics, Inc.). Now you know the highlights, decide carefully about what you should do next! You can check more stock news at apps stock.

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

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