Trending

24/7 Market News – Syros (NASDAQ: SYRS) to Acquire TYME (NASDAQ:TYME)

(24/7 MARKET NEWS) — Syros Pharmaceuticals (NASDAQ:SYRS) and TYME Technologies, Inc. (NASDAQ:TYME) jointly announced, this morning, that the two companies entered into a definitive merger agreement in which Syros will acquire TYME and trade on Nasdaq under the ticker symbol “SYRS”.

Syros further announced, concurrent with the merger, an oversubscribed $130 million private investment in public equity (PIPE) financing at a price per unit of $0.94.

Syros is trading at $0.94, up $0.03 (+3.37%), on 27,352 shares, while TYME is at $0.38, 11 cents higher (+39.75%), on 5,073,979 premarket shares.

24/7 MARKET NEWS, INC Disclaimer
24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

Syros to Raise Approximately $190 Million Through Merger with TYME Technologies and Concurrent Private Placement

https://www.thederrick.com/ap/business/syros-to-raise-approximately-190-million-through-merger-with-tyme-technologies-and-concurrent-private-placement/article_fcf5885a-445d-518f-b696-4de763ee502d.html

Combined Company Will Operate as Syros Pharmaceuticals and Continue to Advance Syros’ Ongoing Clinical Programs

Syros Expects to Have Cash Into 2025; At Least a Year Past SELECT-MDS-1 Pivotal Data

Now Planning to Initiate Phase 3 Clinical Trial of SY-2101 in APL 2H 2023

Syros to Host Conference Call at 8:30 AM ET Today

CAMBRIDGE, Mass. & BEDMINSTER, N.J., July 05, 2022–(BUSINESS WIRE)–Syros Pharmaceuticals (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, and TYME Technologies, Inc. (NASDAQ:TYME), today announced that the companies have entered into a definitive merger agreement pursuant to which Syros will acquire TYME, including its pipeline assets and net cash at closing which after accounting for wind-down and transaction expenses is currently estimated to be approximately $60 million. The combined company will trade on Nasdaq under the ticker symbol “SYRS” and will be led by Syros’ existing management team, including Nancy Simonian, M.D., Chief Executive Officer of Syros, and will remain focused on advancing Syros’ pipeline of small molecule medicines for the treatment of cancer.

RelatedNews

Signup today for free and be the first to get notified of breaking news.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

SIGN UP FOR OUR NEWSLETTER

Sign up for Breaking Alerts, our newsletter putting timely and updated stock and crypto markets news into your hands.

Add New Playlist