$SYRS
Syros Pharmaceuticals, Inc.

2020 Q4 Form 10-K Financial Statement

#000156459021010709 Filed on March 04, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $5.698M $3.828M $3.188M
YoY Change 1021.65% 586.02% 590.04%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.890M $5.150M $5.130M
YoY Change -7.97% 2.59% -1.35%
% of Gross Profit
Research & Development $29.03M $17.67M $14.80M
YoY Change 103.31% 10.94% -4.39%
% of Gross Profit
Depreciation & Amortization $770.0K $770.0K $760.0K
YoY Change -14.44% 20.31% 16.92%
% of Gross Profit
Operating Expenses $34.92M $22.83M $19.93M
YoY Change 68.86% 8.97% -3.58%
Operating Profit -$29.22M -$19.00M -$16.74M
YoY Change 44.86% -6.83% -17.16%
Interest Expense $541.0K $493.0K $487.0K
YoY Change 2605.0% 2247.62% 2017.39%
% of Operating Profit
Other Income/Expense, Net -$910.0K -$489.0K -$460.0K
YoY Change -305.88% -182.05% -161.09%
Pretax Income -$30.13M -$19.49M -$17.20M
YoY Change 52.71% -1.52% -11.61%
Income Tax
% Of Pretax Income
Net Earnings -$30.13M -$19.49M -$17.20M
YoY Change 52.71% -1.55% -11.61%
Net Earnings / Revenue -528.78% -509.04% -539.4%
Basic Earnings Per Share
Diluted Earnings Per Share -$617.5K -$425.7K -$376.4K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $174.0M $93.10M $108.7M
YoY Change 90.37% -13.88% -10.68%
Cash & Equivalents $174.0M $93.13M $108.7M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $2.200M $3.100M $2.200M
YoY Change -24.14% 10.71% -15.38%
Inventory
Prepaid Expenses
Receivables $7.000K $2.300M $2.000K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $178.6M $98.60M $112.5M
YoY Change 55.93% -11.17% -9.54%
LONG-TERM ASSETS
Property, Plant & Equipment $14.21M $30.70M $31.20M
YoY Change -6.55% 7.72% 473.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.966M $4.100M $4.100M
YoY Change 301.22% -4.65% 361.19%
Total Long-Term Assets $34.69M $34.70M $35.30M
YoY Change -2.18% 5.69% 28.56%
TOTAL ASSETS
Total Short-Term Assets $178.6M $98.60M $112.5M
Total Long-Term Assets $34.69M $34.70M $35.30M
Total Assets $213.3M $133.3M $147.8M
YoY Change 42.19% -7.32% -2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.603M $4.900M $2.800M
YoY Change -38.44% -39.08% 59.18%
Accrued Expenses $12.50M $11.70M $10.10M
YoY Change 6.84% -11.36% -13.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $300.0K $300.0K
YoY Change 50.0% 50.0% 50.0%
Total Short-Term Liabilities $28.62M $28.10M $23.20M
YoY Change 21.72% 24.5% 51.32%
LONG-TERM LIABILITIES
Long-Term Debt $39.55M $19.72M $19.64M
YoY Change 6491.83% 3186.5% 2705.71%
Other Long-Term Liabilities $54.20M $39.20M $42.10M
YoY Change 16.06% 50.77% 76.15%
Total Long-Term Liabilities $39.55M $19.72M $19.64M
YoY Change -16.38% -25.87% -20.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.62M $28.10M $23.20M
Total Long-Term Liabilities $39.55M $19.72M $19.64M
Total Liabilities $68.18M $87.40M $85.40M
YoY Change -3.71% 77.28% 114.04%
SHAREHOLDERS EQUITY
Retained Earnings -$377.0M -$346.9M -$327.4M
YoY Change 28.68% 26.95% 29.17%
Common Stock $467.6M
YoY Change 25.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.55M $45.94M $62.41M
YoY Change
Total Liabilities & Shareholders Equity $213.3M $133.3M $147.8M
YoY Change 42.19% -7.32% -2.64%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$30.13M -$19.49M -$17.20M
YoY Change 52.71% -1.55% -11.61%
Depreciation, Depletion And Amortization $770.0K $770.0K $760.0K
YoY Change -14.44% 20.31% 16.92%
Cash From Operating Activities -$29.92M -$15.25M -$12.44M
YoY Change 182.26% 35.92% -31.27%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$520.0K -$990.0K
YoY Change -99.63% -79.77% -25.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $5.000M
YoY Change -100.0% -100.0% -85.29%
Cash From Investing Activities -$30.00K -$530.0K $4.020M
YoY Change -100.18% -99.07% -87.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.8M 240.0K 220.0K
YoY Change 10065.14% -2500.0% -99.66%
NET CHANGE
Cash From Operating Activities -29.92M -15.25M -12.44M
Cash From Investing Activities -30.00K -530.0K 4.020M
Cash From Financing Activities 110.8M 240.0K 220.0K
Net Change In Cash 80.85M -15.54M -8.200M
YoY Change 985.23% -77.27% -110.3%
FREE CASH FLOW
Cash From Operating Activities -$29.92M -$15.25M -$12.44M
Capital Expenditures -$30.00K -$520.0K -$990.0K
Free Cash Flow -$29.89M -$14.73M -$11.45M
YoY Change 1125.0% 70.29% -31.76%

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CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
109000000
CY2019 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
205000
CY2018 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
50000
CY2020 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1076000
CY2019 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
211000
CY2018 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
626000
CY2020 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
433000
CY2019 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
161000
CY2019 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11896000
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
824000
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
16538000
CY2020 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
39619000
CY2020 syrs Proceeds From Issuance Of Common Stock And Accompanying Warrants And Pre Funded Warrants In Private Placement Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockAndAccompanyingWarrantsAndPreFundedWarrantsInPrivatePlacementNetOfIssuanceCosts
90377000
CY2019 syrs Proceeds From Issuance Of Common Stock And Accompanying Warrants In Public Offerings And Private Placements Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockAndAccompanyingWarrantsInPublicOfferingsAndPrivatePlacementsNetOfIssuanceCosts
60359000
CY2018 syrs Proceeds From Issuance Of Common Stock And Accompanying Warrants In Public Offerings And Private Placements Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockAndAccompanyingWarrantsInPublicOfferingsAndPrivatePlacementsNetOfIssuanceCosts
51970000
CY2019 syrs Proceeds From Issuance Of Convertible Preferred Stock And Accompanying Warrants In Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfConvertiblePreferredStockAndAccompanyingWarrantsInPublicOfferingNetOfIssuanceCosts
4638000
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
207000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
65990000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
69084000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5997000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18126000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50814000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44817000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50814000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
72000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
2000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
7000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
29000
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
7000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1565000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
268000
CY2019 syrs Operating Lease Obligations Incurred
OperatingLeaseObligationsIncurred
16240000
CY2019 syrs Finance And Capital Lease Obligations Incurred
FinanceAndCapitalLeaseObligationsIncurred
1059000
CY2018 syrs Finance And Capital Lease Obligations Incurred
FinanceAndCapitalLeaseObligationsIncurred
28000
CY2020 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
5000
CY2019 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
58000
CY2020 syrs Offering Cost Incurred But Not Yet Paid
OfferingCostIncurredButNotYetPaid
298000
CY2019 syrs Offering Cost Incurred But Not Yet Paid
OfferingCostIncurredButNotYetPaid
23000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.57%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Syros Pharmaceuticals, Inc. (the "Company"), a Delaware corporation formed in November 2011, is a biopharmaceutical company seeking to redefine the power of small molecules to control the expression of genes.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.57%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to a number of risks similar to those of other early stage companies, including dependence on key individuals; risks inherent in the development and commercialization of medicines to treat human disease; competition from other companies, many of which are larger and better capitalized; risks relating to obtaining and maintaining necessary intellectual property protection; and the need to obtain adequate additional financing to fund the development of its product candidates and discovery activities. If the Company is unable to raise capital when needed or on favorable terms, it would be forced to delay, reduce, eliminate or out-license certain of its research and development programs or future commercialization rights to its product candidates.</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On December 8, 2020, through a private placement, the Company issued 10,312,500 shares of the Company’s common stock, par value $0.001 per share, and, in lieu of such shares of common stock, pre-funded warrants (the “Pre-Funded Warrants”) to purchase an aggregate of 1,000,000 shares of common stock, and, in each case, accompanying warrants (the “Warrants”) to purchase an aggregate of up to 2,828,125 additional shares of common stock (or Pre-Funded Warrants to purchase common stock in lieu thereof) at a price of $8.00 per share and accompanying Warrant (or $7.99 per Pre-Funded Warrant and accompanying Warrant). The private placement resulted in gross proceeds of $90.5 million, before $0.4 million of transaction costs.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On December 4, 2020, the Company entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Orsenix, LLC (“Orsenix”), pursuant to which the Company acquired all of Orsenix’s assets related to a novel oral form of arsenic trioxide, which the Company refers to as SY-2101 (the “Product”). Under the terms of the Asset Purchase Agreement, the Company was required to pay to Orsenix an upfront fee of $12.0 million, which was paid with cash on hand upon the closing of the transaction. In addition the Company is required to pay single-digit million milestone payments related to the development of the Product in indications other than APL; $6.0 million following the achievement of a regulatory milestone related to the development of the Product in APL; and up to $10.0 million upon the achievement of certain commercial milestones with respect to the Product.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">In April 2019, the Company completed two concurrent underwritten public offerings of the Company’s equity securities, which together resulted in gross proceeds to the Company of $70.0 million, before underwriting discounts and commissions and offering expenses of approximately $5.0 million. In one of the public offerings, the Company sold 8,667,333 shares of its common stock and accompanying Class A warrants (the “2019 Warrants”) to purchase 1,951,844 shares of the Company’s common stock, at a combined price to the public of $7.50 per common share and accompanying 2019 Warrant. In the other public offering, the Company sold 666 shares of its Series A convertible preferred stock (the “Series A Stock”), and accompanying 2019 Warrants to purchase 166,500 shares of the Company’s common stock, at a combined public offering price of $7,500 per share and accompanying 2019 Warrant. Each 2019 Warrant is immediately exercisable at an exercise price of $8.625 per share, subject to adjustment in certain circumstances, and will expire on October 10, 2022. </span>During November 2019, the Company issued and sold an aggregate of 180,787 shares of its common stock to the public pursuant to its at-the-market sales facility, resulting in aggregate gross proceeds of $0.9 million.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:3.57%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred significant annual net operating losses in every year since its inception. It expects to continue to incur significant and increasing net operating losses for at least the next several years. The Company’s net losses were $84.0 million, $75.4 million and $62.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020, the Company had an accumulated deficit of $377.0 million. The Company has not generated any revenues from product sales, has not completed the development of any product candidate and may never have a product candidate approved for commercialization. The Company has financed its operations to date primarily through a credit facility, the sale of equity securities and through license and collaboration agreements. The Company has devoted substantially all of its financial resources and efforts to research and development and general and administrative expense to support such research and development. The Company’s net losses may fluctuate significantly from quarter to quarter and year to year. Net losses and negative cash flows have had, and will continue to have, an adverse effect on the Company’s stockholders' equity and working capital. <span style="color:#000000;">The Company believes that its cash, cash equivalents and marketable securities of $174.0 million as of December 31, 2020 will be sufficient to allow the Company to fund its current operating plan for a period of at least 12 months past the issuance date of these consolidated financial statements.</span></p>
CY2019Q2 syrs Number Of Underwriting Agreements
NumberOfUnderwritingAgreements
2
CY2020Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
174000000.0
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.14%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Management considers many factors in selecting appropriate financial accounting policies and in developing the estimates and assumptions that are used in the preparation of the financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, which include, but are not limited to, expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates and whether historical trends are expected to be representative of future trends. Management’s estimation process often may yield a range of potentially reasonable estimates and management must select an amount that falls within that range of reasonable estimates. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, estimates related to revenue recognition, warrant liability, stock-based compensation expense, accrued expenses and income taxes. Actual results may differ from those estimates or assumptions.</p>
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12193144
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7852873
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3732643
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2117094
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2118094
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46051617
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40222182
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32656237
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2100000
CY2019Q4 syrs Accounts Receivable And Contract Assets
AccountsReceivableAndContractAssets
20158000
CY2020 syrs Accounts Receivable And Contract Assets Deductions
AccountsReceivableAndContractAssetsDeductions
32196000
CY2020 syrs Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
1081000
CY2020 syrs Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
7373000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
22086000
CY2020Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
173984000
CY2020Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
173984000
CY2019Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
91392000
CY2019Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
24000
CY2019Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
91416000
CY2020 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2019 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
290000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
290000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
177070000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44817000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50814000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32688000
CY2018 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2020Q4 syrs Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
0
CY2019Q4 syrs Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
0
CY2018Q4 syrs Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
0
CY2020Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
0
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3100000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3400000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
300000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3100000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
173984000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
41441000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49886000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32205000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
290000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
638000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
193000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3086000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3086000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7216000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4442000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14213000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15210000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2800000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2500000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1600000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
16666000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
20000000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
3334000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
40000000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
645000
CY2020Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
196000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
39551000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21429000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19652000
CY2020Q4 syrs Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
4702000
CY2019Q4 syrs Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
5395000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5715000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4174000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
602000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
694000
CY2020Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
65000
CY2019Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
383000
CY2020Q4 syrs Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
11084000
CY2019Q4 syrs Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
10646000
CY2019 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
100000
CY2020 us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
As of December 31, 2019, the 2015 Lease had terminated and all obligations relating the 2015 Lease were satisfied in full with no remaining balances as of that date.
CY2019Q1 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P48M
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1000000.0
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000000.0
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3824000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
313000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3935000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
313000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4049000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
66000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4166000
CY2020Q4 syrs Lessee Operating Lease Liability Payments Due Year Five And After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
23543000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
39517000
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
692000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
13476000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
70000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
26041000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
622000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
3063000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
261000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
71000
CY2020 syrs Finance Lease Cost
FinanceLeaseCost
332000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
3122000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
313000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0930
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0947
CY2019Q2 syrs Number Of Underwriting Agreements
NumberOfUnderwritingAgreements
2
CY2019Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
70000000.0
CY2019Q2 syrs Underwriting Discounts And Commissions And Estimated Offering Expenses Payable
UnderwritingDiscountsAndCommissionsAndEstimatedOfferingExpensesPayable
5000000.0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4618421
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.16
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2525000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1195050
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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