Syros Announces Proposed Concurrent Public Offerings of Common Stock with Warrants to Purchase Common Stock and Preferred Stock with Warrants to Purchase Common Stock

April 5, 2019 Off By BusinessWire

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Syros Pharmaceuticals (NASDAQ: SYRS), a leader in the development of
medicines that control the expression of genes, today announced that it
is offering to sell, subject to market and other conditions, (i) shares
of its common stock and Class A warrants to purchase common stock, and
(ii) shares of its Series A convertible preferred stock and Class A
warrants to purchase common stock, in two concurrent but separate
underwritten public offerings. The offerings are being made by means of
separate preliminary prospectus supplements and are not contingent upon
each other. The offerings are subject to market and other conditions,
and there can be no assurance as to whether or when the offerings may be
completed or as to the actual size or terms of the offerings.

Cowen and Piper Jaffray & Co. are acting as joint book-running managers
for the offering. JMP Securities is acting as lead manager and Roth
Capital Partners is acting as co-manager.

The securities are being offered by Syros pursuant to a shelf
registration statement that was filed with the Securities and Exchange
Commission (“SEC”) on July 20, 2017 and declared effective by the SEC on
July 31, 2017. The offerings of securities will be made only by means of
the prospectuses and prospectus supplements that form a part of the
registration statement. Preliminary prospectus supplements relating to,
and describing the terms of, each offering will be filed with the SEC
and will be available on the SEC’s web site at www.sec.gov.

Copies of the preliminary prospectus supplements and the accompanying
prospectuses relating to the securities being offered can be obtained
from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155
Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, or by telephone at (631) 274-2806; or Piper Jaffray & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, or by telephone: 800-747-3924, or by email: [email protected].
The final terms of the offerings will be disclosed in final prospectus
supplements to be filed with the SEC.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About Syros Pharmaceuticals

Syros is pioneering the understanding of the non-coding regulatory
region of the genome to advance a new wave of medicines that control the
expression of genes. Syros has built a proprietary platform that is
designed to systematically and efficiently analyze this unexploited
region of DNA to identify and drug novel targets linked to genomically
defined patient populations. Because gene expression is fundamental to
the function of all cells, Syros’ gene control platform has broad
potential to create medicines that achieve profound and durable benefit
across a range of diseases. Syros is currently focused on cancer and
monogenic diseases and is advancing a growing pipeline of gene control
medicines. Syros’ lead drug candidates are SY-1425, a selective RARα
agonist in a Phase 2 clinical trial for genomically defined subsets of
patients with acute myeloid leukemia, and SY-1365, a selective CDK7
inhibitor in a Phase 1 clinical trial focused on patients with ovarian
and breast cancers. Syros is also developing a deep preclinical and
discovery pipeline, including SY-5609, an oral CDK7 inhibitor, as well
as programs in immuno-oncology and sickle cell disease. Led by a team
with deep experience in drug discovery, development and
commercialization, Syros is located in Cambridge, Mass.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995, such as
those, among others, relating to Syros’ plans to consummate its proposed
offerings. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’
‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’
‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’
‘‘would,’’ and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. Actual results or events could differ
materially from the plans, intentions and expectations disclosed in
these forward-looking statements as a result of various important
factors, including, without limitation, risks and uncertainties related
to whether or not Syros will be able to raise capital through the sale
of shares of common stock and Series A preferred stock or the exercise
of the Class A warrants to purchase common stock, the final terms of the
proposed offerings, market and other conditions, the satisfaction of
customary closing conditions related to the proposed offerings and the
impact of general economic, industry or political conditions in the
United States or internationally. There can be no assurance that Syros
will be able to complete the proposed offerings on the anticipated
terms, or at all. Additional risks and uncertainties relating to the
proposed offerings, Syros and its business can be found under the
caption “Risk Factors” in Syros’ Annual Report on Form 10-K for the year
ended December 31, 2018, Syros’ preliminary prospectus supplements to be
filed with the SEC on April 4, 2019; and risks described in other
filings that Syros makes with the Securities and Exchange Commission in
the future. Any forward-looking statements contained in this press
release speak only as of the date hereof, and Syros expressly disclaims
any obligation to update any forward-looking statements, whether because
of new information, future events or otherwise.