SYRS - Syros Pharmaceuticals GAAP EPS of -$0.54 misses by $0.13 revenue of $6.28M beats by $1.5M

• Syros Pharmaceuticals press release ( NASDAQ: SYRS ): Q2 GAAP EPS of -$0.54 misses by $0.13 .
• Revenue of $6.28M (+21.7% Y/Y) beats by $1.5M .

• Cash and Financial Guidance

  Cash, cash equivalents and marketable securities as of June 30, 2022 were $86.3 million, as compared with $143.4 million on December 31, 2021. Based on Syros’s current operating plan and without giving effect to the merger with TYME, the PIPE financing and the loan amendment with Oxford, the completion of which cannot be assured, Syros anticipates that its cash, cash equivalents and marketable securities of $86.3 million as of June 30, 2022 will allow it to meet its liquidity requirements into the second quarter of 2023.

  If Syros completes the merger with TYME and the PIPE financing and gives effect to certain provisions of the loan amendment with Oxford related to such closings (which is expected to occur in the second half of 2022), Syros anticipates having approximately $240 million in cash and other capital resources (after transaction expenses), which it believes will be sufficient to fund its planned operating expenses and capital expenditure requirements into 2025.

• Shares -1.55% PM.

For further details see: