Bruised but stand­ing, Sy­ros braves its way through a $50M IPO

These days, if you want to push a biotech IPO that isn’t di­rect­ly re­lat­ed to gene edit­ing, you bet­ter head to Wall Street sur­round­ed by deep pock­et in­vestors ready to buy in to help prop up the stock price.

And even then, it may not go your way.

Case in point: Sy­ros Phar­ma­ceu­ti­cals $SYRS. The Cam­bridge, MA-based Sy­ros is pur­su­ing a pop­u­lar path, fo­cus­ing on spe­cif­ic ge­net­i­cal­ly mu­tat­ed forms of acute myeloid leukemia and re­lapsed high-risk myelodys­plas­tic syn­drome by fo­cus­ing on non-cod­ing re­gions of DNA to build a new can­cer drug plat­form. But that’s ev­i­dent­ly not good enough to get in­vestors whipped up — es­pe­cial­ly as they’re still not in Phase II with the lead drug, SY-1425.

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