Investor Alert

New York Markets Open in:

Market Pulse Archives

Dec. 18, 2019, 7:51 a.m. EST

Global Blood Therapeutics and Syros Pharmaceuticals partner for sickle cell therapies

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Syros Pharmaceuticals Inc. (SYRS)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tonya Garcia

Global Blood Therapeutics Inc. and Syros Pharmaceuticals Inc. /zigman2/quotes/201168308/composite SYRS +1.81% announced a partnership to develop and commercialize therapies for sickle cell disease and beta thalassemia. Sickle cell disease is a set of inherited red blood cell disorders commonly afflicting people of African or Latin background. Beta thalassemia is a blood disorder that reduces hemoglobin production. Syros will use its gene control platform to find drugs that induce fetal hemoglobin and Global Blood Therapeutics will develop, manufacture and commercialize the resulting products. Nancy Simonian, M.D., chief executive of Syros, said the company believes it's "possible to provide a functional cure" for patients with these disorders. Global Blood Therapeutics will pay Syros $20 million initially and fund up to $40 million in preclinical research for at least three years. Syros could receive up to $315 million per product candidate and product resulting from the partnership. Syros could also co-promote the first product resulting from the collaboration in the U.S. Global Blood Therapeutics shares are down 5.5% in Wednesday premarket trading, but up 90% for the past year. Syros Pharmaceuticals stock jumped nearly 12% in premarket trading, but are down 35.6% for the last 12 months. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.25% has gained 25.4% for the past year.

US : U.S.: Nasdaq
$ 4.50
+0.08 +1.81%
Volume: 90,969
Jan. 27, 2023 4:00p
P/E Ratio
Dividend Yield
Market Cap
$91.02 million
Rev. per Employee
+10.13 +0.25%
Volume: 0.00
Jan. 27, 2023 5:10p

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.