Syros Pharmaceuticals is a clinical-stage biopharmaceutical company focused entirely on developing tamibarotene, an oral RARα agonist, for two blood cancers: higher-risk myelodysplastic syndrome (HR-MDS) and acute myeloid leukemia (AML). Tamibarotene targets a genomically defined patient subset — those who overexpress the RARA gene — identified via a companion diagnostic blood test developed with Qiagen. In HR-MDS, tamibarotene is being tested in combination with azacitidine (the current standard of care) in a Phase 3 trial; in unfit AML, it is being tested as an add-on to the venetoclax plus azacitidine doublet in a Phase 2 trial. Syros has no approved products and no revenue; the company funds operations through equity raises and had roughly $139.5M in cash at year-end 2023. If tamibarotene is approved, Syros plans to commercialize it in the U.S. with its own sales force targeting hematologic oncologists, and to seek a partner for ex-U.S. markets. Syros would owe single-digit royalties and milestone payments to TMRC, which licenses certain tamibarotene IP. Syros has two other assets — SY-2101 (oral arsenic trioxide for APL, development halted) and SY-5609 (a CDK7 inhibitor, out-licensing only) — but both are effectively dormant, and the entire business is a bet on tamibarotene reaching approval.