James E. Flynn‘s Deerfield Management has disclosed a stake in Syros Pharmaceuticals Inc (NASDAQ:SYRS), a biotechnology company recently gone public. According to a recent filing with the Securities and Exchange Commission, the fund holds 2.09 million shares, which account for approximately 8.97% of Syros Pharmaceuticals’ common stock.
Syros Pharmaceuticals Inc (NASDAQ:SYRS) has developed a gene control platform that analyzes the DNA of patients in order to identify new targets for gene control medicines. The company went public at the end of June in an IPO priced at $12.50 per share, although initially it aimed between $14 and $16 a share. Syros Pharmaceuticals offered 4.6 million shares and options for an additional 600,000 shares for their underwriters, totaling gross proceeds of $57.5 million. The company will use the funds to finance further development of its SY-1425 candidate for the treatment of acute myelogenous leukemia and myelodysplastic syndrome, and the SY-1365 candidate designed to treat acute leukemia.
No other hedge funds followed by Insider Monkey have yet disclosed a position in Syros Pharmaceuticals Inc (NASDAQ:SYRS).
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Deerfield Management Company||0||2,095,220||0||2,095,220||2,095,220||8.97%|
|Deerfield Mgmt III||0||1,466,654||0||1,466,654||1,466,654||6.28%|
|Deerfield Special Situations Fund||0||628,566||0||628,566||628,566||2.69%|
|Deerfield Private Design Fund III||0||1,466,654||0||1,466,654||1,466,654||6.28%|
|James E. Flynn||0||2,095,220||0||2,095,220||2,095,220||8.97%|
Page 1 of 14 – SEC Filing