Ready for Takeoff? Syros Pharmaceuticals Inc (NASDAQ:SYRS) Files 8-K

Syros Pharmaceuticals Inc (NASDAQ:SYRS) is trading in a very narrow range in early session on Thursday. The stock has been witnessing a nice uptrend since over the past month with a jump of around 11%. Will the Rally continue?

Major Trigger:

Form 8-K Syros Pharmaceuticals, For: Jun 07

Key Highlights:

  • On June 7, 2021, Joseph J. Ferra, Jr., notified Syros Pharmaceuticals, Inc. (the “Company”) of his decision to resign from his position as Chief Financial Officer (and principal financial and accounting officer), effective June 15, 2021.
  • Mr. Ferra’s resignation is not a result of any disagreement with the Company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls. Mr. Ferra will remain at the Company as a consultant through July 23, 2021 in order to support the transition of his responsibilities. The Company is currently engaged in a search process for a new Chief Financial Officer.
  • On June 8, 2021, the Board of Directors (the “Board”) of the Company appointed Nancy Simonian, M.D., the Company’s President and Chief Executive Officer, as the Company’s interim principal financial officer and principal accounting officer effective June 16, 2021.
  • Biographical information for Dr. Simonian is available in the Company’s proxy statement filed with the Securities and Exchange Commission on April 29, 2021 in connection with the Company’s 2021 annual meeting of stockholders, such information being incorporated herein by reference.

Market Reaction

As of 10:37, SYRS stock down by 1.50% to $5.70 with more than 416K shares traded hands, compared to its average volume of 1.267 million shares. The stock has moved within a range of $5.55 – 5.86 after opening the trade at $5.79.

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