SYRS Earnings Prediction
The chart below shows how SYRS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SYRS sees a +1.71% change in stock price 10 days leading up to the earnings, and a -17.11% change 10 days following the report. On the earnings day itself, the stock moves by -0.24%. This data can give you a slight idea of what to expect for the next quarter's release.
SYRS Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
0.00
-100.00%
--
Gross Margin
--
--
--
Operating Margin
--
--
--
Net Margin
--
--
--
EPS
-0.16
-88.81%
-72.88%
No Data Available
SYRS Earnings Analysis
Syros Pharmaceuticals, Inc. Common Stock Corporation (SYRS.O) Earnings Conference Call
Positive
Market Opportunity for MDS Therapeutics: 1. Significant Market Opportunity: The total market opportunity for higher-risk MDS therapeutics in the U.S. is projected to reach approximately $1.6 billion by 2029, with tamibarotene alone expected to capture over $800 million for patients with RARA overexpression.
R&D Expense Reduction: 2. Reduced R&D Expenses: R&D expenses decreased to $20.5 million in Q3 2024 from $28.3 million in Q3 2023, reflecting a focused investment strategy on advancing tamibarotene.
Cost Management Success: 3. Lower General & Administrative Expenses: G&A expenses were reduced to $5.7 million in Q3 2024 compared to $7.8 million in Q3 2023, indicating effective cost management measures.
Net Loss Improvement: 4. Improved Net Loss: The net loss for Q3 2024 was $6.4 million, or $0.16 per share, significantly improved from a net loss of $40.1 million, or $1.43 per share, in the same period last year.
Cash Reserves Stability: 5. Strong Cash Position: As of September 30, 2024, cash and cash equivalents stood at $58.3 million, sufficient to fund anticipated operating expenses into the third quarter of 2025.
Negative
Revenue Decline Analysis: 1. No Revenue Recognition: Syros Pharmaceuticals reported no revenue in Q3 2024, a significant decline from $3.8 million in Q3 2023, attributed to the termination of their collaboration agreement with Pfizer.
Net Loss Improvement: 2. Increased Net Loss: The company reported a net loss of $6.4 million, or $0.16 per share, in Q3 2024, which, while improved from a net loss of $40.1 million, or $1.43 per share, in Q3 2023, still indicates ongoing financial challenges.
Cash Position Decline: 3. Decreased Cash Position: Cash and cash equivalents decreased to $58.3 million as of September 30, 2024, down from $79 million as of June 30, 2024, raising concerns about the company's liquidity.
R&D Expense Reduction: 4. Reduced R&D Spending: R&D expenses fell to $20.5 million in Q3 2024 from $28.3 million in Q3 2023, reflecting a cutback in external R&D and consulting, which may impact future product development.
Sustained Financial Losses: 5. Ongoing Financial Losses: Despite a reduction in losses, the company continues to operate at a loss, indicating potential sustainability issues as they prepare for the launch of tamibarotene.
SYRS FAQs
How does SYRS typically perform around its earnings report dates?
Is Syros Pharmaceuticals, Inc (SYRS) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
SYRS Earning Call Sentiment
Syros Pharmaceuticals, Inc (SYRS) Q3 2024 Earnings Call Transcript
SYRS.O
-7.14%Positive
The earnings call reflects a negative outlook due to several factors: a significant net loss, declining cash reserves, and intense competition for their key product, tamibarotene. Despite a reduced net loss YoY, the absence of revenue and financial risks such as supply chain challenges and reliance on a pivotal trial outcome contribute to uncertainty. The Q&A section reveals concerns about regulatory processes and competitive positioning, further dampening sentiment. Without strong positive catalysts like new partnerships or increased guidance, the stock is likely to experience a negative movement.
