SYRS - Syros rises 13% as tamibarotene gets FDA orphan drug status for myelodysplastic syndrome

The U.S. Food and Drug Administration granted orphan drug designation to Syros Pharmaceuticals' (NASDAQ:SYRS) tamibarotene to treat myelodysplastic syndrome (MDS). Tamibarotene is currently being evaluated in combination with azacitidine in a phase 3 trial, dubbed SELECT-MDS-1, to treat RARA-positive patients with newly diagnosed higher-risk MDS (HR-MDS). The FDA grants orphan status to medicines aimed at treating rare diseases that affect fewer than 200K people in the U.S. The status provides incentives which include seven-year period of market exclusivity if the drug is approved. MDS are a group of cancers in which immature blood cells in the bone marrow do not mature or become healthy blood cells. SYRS +13.21% at $2.19 after-hours

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Syros rises 13% as tamibarotene gets FDA orphan drug status for myelodysplastic syndrome