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Syros Pharmaceuticals closes common stock offering, private placement

Syros Pharmaceuticals Inc. closed its public offering, for net proceeds of about $37.3 million.

The company also closed a concurrent private placement of 125,656 common shares to Incyte Corp., raising proceeds of about $1.2 million.

Syros said its existing cash and the net proceeds from the offering and private placement will be enough to fund operations into 2020.

Cambridge, Mass.-based Syros develops treatments for cancer and immune-mediated diseases.