2021 Q3 Form 10-Q Financial Statement
#000156459021054726 Filed on November 05, 2021
Income Statement
| Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
|---|---|---|---|
| Revenue | $5.697M | $3.828M | $3.188M |
| YoY Change | 48.82% | 586.02% | 590.04% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $5.346M | $5.150M | $5.130M |
| YoY Change | 3.81% | 2.59% | -1.35% |
| % of Gross Profit | |||
| Research & Development | $27.26M | $17.67M | $14.80M |
| YoY Change | 54.25% | 10.94% | -4.39% |
| % of Gross Profit | |||
| Depreciation & Amortization | $765.0K | $770.0K | $760.0K |
| YoY Change | -0.65% | 20.31% | 16.92% |
| % of Gross Profit | |||
| Operating Expenses | $32.61M | $22.83M | $19.93M |
| YoY Change | 42.86% | 8.97% | -3.58% |
| Operating Profit | -$26.91M | -$19.00M | -$16.74M |
| YoY Change | 41.66% | -6.83% | -17.16% |
| Interest Expense | $884.0K | $493.0K | $487.0K |
| YoY Change | 79.31% | 2247.62% | 2017.39% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $1.840M | -$489.0K | -$460.0K |
| YoY Change | -476.28% | -182.05% | -161.09% |
| Pretax Income | -$26.03M | -$19.49M | -$17.20M |
| YoY Change | 33.54% | -1.52% | -11.61% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$26.03M | -$19.49M | -$17.20M |
| YoY Change | 33.57% | -1.55% | -11.61% |
| Net Earnings / Revenue | -456.85% | -509.04% | -539.4% |
| Basic Earnings Per Share | -$4.14 | ||
| Diluted Earnings Per Share | -$413.6K | -$425.7K | -$376.4K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 6.293M | ||
| Diluted Shares Outstanding | 6.293M |
Balance Sheet
| Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $145.6M | $93.10M | $108.7M |
| YoY Change | 56.37% | -13.88% | -10.68% |
| Cash & Equivalents | $115.4M | $93.13M | $108.7M |
| Short-Term Investments | $30.16M | $0.00 | |
| Other Short-Term Assets | $4.055M | $3.100M | $2.200M |
| YoY Change | 30.81% | 10.71% | -15.38% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $3.632M | $2.300M | $2.000K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $153.3M | $98.60M | $112.5M |
| YoY Change | 55.45% | -11.17% | -9.54% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $28.16M | $30.70M | $31.20M |
| YoY Change | -8.28% | 7.72% | 473.21% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $21.12M | ||
| YoY Change | |||
| Other Assets | $5.496M | $4.100M | $4.100M |
| YoY Change | 34.05% | -4.65% | 361.19% |
| Total Long-Term Assets | $54.77M | $34.70M | $35.30M |
| YoY Change | 57.84% | 5.69% | 28.56% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $153.3M | $98.60M | $112.5M |
| Total Long-Term Assets | $54.77M | $34.70M | $35.30M |
| Total Assets | $208.0M | $133.3M | $147.8M |
| YoY Change | 56.07% | -7.32% | -2.65% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $4.108M | $4.900M | $2.800M |
| YoY Change | -16.16% | -39.08% | 59.18% |
| Accrued Expenses | $13.49M | $11.70M | $10.10M |
| YoY Change | 15.32% | -11.36% | -13.68% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $285.0K | $300.0K | $300.0K |
| YoY Change | -5.0% | 50.0% | 50.0% |
| Total Short-Term Liabilities | $29.88M | $28.10M | $23.20M |
| YoY Change | 6.33% | 24.5% | 51.32% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $40.07M | $19.72M | $19.64M |
| YoY Change | 103.22% | 3186.5% | 2705.71% |
| Other Long-Term Liabilities | $31.89M | $39.20M | $42.10M |
| YoY Change | -18.65% | 50.77% | 76.15% |
| Total Long-Term Liabilities | $40.07M | $19.72M | $19.64M |
| YoY Change | 103.22% | -25.87% | -20.16% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $29.88M | $28.10M | $23.20M |
| Total Long-Term Liabilities | $40.07M | $19.72M | $19.64M |
| Total Liabilities | $102.0M | $87.40M | $85.40M |
| YoY Change | 16.69% | 77.28% | 114.04% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$439.8M | -$346.9M | -$327.4M |
| YoY Change | 26.78% | 26.95% | 29.17% |
| Common Stock | |||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $106.1M | $45.94M | $62.41M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $208.0M | $133.3M | $147.8M |
| YoY Change | 56.07% | -7.32% | -2.64% |
Cashflow Statement
| Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$26.03M | -$19.49M | -$17.20M |
| YoY Change | 33.57% | -1.55% | -11.61% |
| Depreciation, Depletion And Amortization | $765.0K | $770.0K | $760.0K |
| YoY Change | -0.65% | 20.31% | 16.92% |
| Cash From Operating Activities | -$28.13M | -$15.25M | -$12.44M |
| YoY Change | 84.44% | 35.92% | -31.27% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$310.0K | -$520.0K | -$990.0K |
| YoY Change | -40.38% | -79.77% | -25.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$16.99M | $0.00 | $5.000M |
| YoY Change | -100.0% | -85.29% | |
| Cash From Investing Activities | -$17.30M | -$530.0K | $4.020M |
| YoY Change | 3164.34% | -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 | -67.00K | 240.0K | 220.0K |
| YoY Change | -127.92% | -2500.0% | -99.66% |
| NET CHANGE | |||
| Cash From Operating Activities | -28.13M | -15.25M | -12.44M |
| Cash From Investing Activities | -17.30M | -530.0K | 4.020M |
| Cash From Financing Activities | -67.00K | 240.0K | 220.0K |
| Net Change In Cash | -45.49M | -15.54M | -8.200M |
| YoY Change | 192.76% | -77.27% | -110.3% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$28.13M | -$15.25M | -$12.44M |
| Capital Expenditures | -$310.0K | -$520.0K | -$990.0K |
| Free Cash Flow | -$27.82M | -$14.73M | -$11.45M |
| YoY Change | 88.85% | 70.29% | -31.76% |
Facts In Submission
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<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;">1. Nature of Business</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;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:3.71%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;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:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On January 22, 2021, the Company issued and sold an aggregate of 5,400,000 shares of its common stock in an underwritten public offering at a public offering price of $14.00 per share, resulting in gross proceeds of $75.6 million before deducting underwriting discounts and commissions and other transaction expenses of approximately $5.1 million. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;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 September 30, 2021, the Company had an accumulated deficit of $439.8 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 the sale of equity securities, license and collaboration agreements and term debt. The Company has devoted substantially all of its financial resources and efforts to research and development and general and administrative activities 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 $166.7 million as of </span>September 30, 2021<span style="color:#000000;"> 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 unaudited interim condensed consolidated financial statements</span>. </p> | ||
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CashEquivalentsAtCarryingValueAndDebtSecuritiesAvailableForSale
|
166700000 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:10pt;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:7.42%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;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 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. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including expenses, reserves and allowances, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat it.</p> | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
177070000 | |
| CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
96219000 | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9389565 | ||
| CY2020Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
2118094 | |
| CY2020Q4 | syrs |
Accounts Receivable And Contract Assets
AccountsReceivableAndContractAssets
|
2331000 | |
| syrs |
Accounts Receivable And Contract Assets Additions
AccountsReceivableAndContractAssetsAdditions
|
15701000 | ||
| syrs |
Accounts Receivable And Contract Assets Deductions
AccountsReceivableAndContractAssetsDeductions
|
-14400000 | ||
| CY2020Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
22086000 | |
| syrs |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
145000 | ||
| syrs |
Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
|
-7256000 | ||
| CY2021Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
14975000 | |
| CY2021Q3 | syrs |
Cash Equivalents At Carrying Value And Debt Securities Available For Sale
CashEquivalentsAtCarryingValueAndDebtSecuritiesAvailableForSale
|
166706000 | |
| CY2021Q3 | syrs |
Cash Equivalents And Debt Securities Available For Sale Unrealized Gains
CashEquivalentsAndDebtSecuritiesAvailableForSaleUnrealizedGains
|
2000 | |
| CY2021Q3 | syrs |
Cash Equivalents And Debt Securities Available For Sale Unrealized Loss
CashEquivalentsAndDebtSecuritiesAvailableForSaleUnrealizedLoss
|
7000 | |
| CY2021Q3 | syrs |
Cash And Cash Equivalents Fair Value Disclosure And Debt Securities Available For Sale
CashAndCashEquivalentsFairValueDisclosureAndDebtSecuritiesAvailableForSale
|
166701000 | |
| CY2020Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
173984000 | |
| CY2020Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
173984000 | |
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| CY2021Q3 | syrs |
Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
|
0 | |
| CY2020Q3 | syrs |
Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
|
0 | |
| CY2021Q3 | us-gaap |
Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
|
8 | |
| CY2021Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
23500000 | |
| CY2021Q3 | us-gaap |
Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
0 | |
| us-gaap |
Marketable Securities Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
|
0 | ||
| CY2021Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3100000 | |
| CY2020Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3100000 | |
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
115420000 | |
| CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
173984000 | |
| CY2020Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
93133000 | |
| CY2019Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
290000 | |
| CY2021Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3086000 | |
| CY2020Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3086000 | |
| CY2020Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3086000 | |
| CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118506000 | |
| CY2021Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
16667000 | |
| CY2021Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
20000000 | |
| CY2021Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
3333000 | |
| CY2021Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
40000000 | |
| CY2021Q3 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
507000 | |
| CY2021Q3 | us-gaap |
Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
|
579000 | |
| CY2021Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
40072000 | |
| CY2021Q3 | syrs |
Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
|
7190000 | |
| CY2020Q4 | syrs |
Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
|
4702000 | |
| CY2021Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3896000 | |
| CY2020Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
5715000 | |
| CY2021Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
683000 | |
| CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
602000 | |
| CY2021Q3 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
70000 | |
| CY2020Q4 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
65000 | |
| CY2021Q3 | syrs |
Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
|
11839000 | |
| CY2020Q4 | syrs |
Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
|
11084000 | |
| 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 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
970000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
|
78000 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
3935000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
313000 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
4049000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
66000 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
4166000 | |
| CY2021Q3 | syrs |
Lessee Operating Lease Liability Payments Due Year Four And After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndAfterYearFour
|
23543000 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
36663000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
457000 | |
| CY2021Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
11693000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
32000 | |
| CY2021Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
24970000 | |
| CY2021Q3 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
425000 | |
| CY2021Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
772000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2316000 | ||
| CY2021Q3 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
67000 | |
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
195000 | ||
| CY2021Q3 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
11000 | |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
38000 | ||
| CY2021Q3 | syrs |
Finance Lease Cost
FinanceLeaseCost
|
78000 | |
| syrs |
Finance Lease Cost
FinanceLeaseCost
|
233000 | ||
| CY2021Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
951000 | |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
2853000 | ||
| CY2021Q3 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
78000 | |
| us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
234000 | ||
| CY2021Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0930 | |
| CY2021Q3 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0947 | |
| CY2021Q3 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-1800000 | |
| us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-14100000 | ||
| 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 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
13124000 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1647000 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
9.17 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
100000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
500000 | ||
| CY2021Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
12200000 | |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y9M18D | ||
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
20134 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
7.77 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
831121 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
9.92 | ||
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6264350 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
8.84 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
931000 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
3872773 | |
| CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
9.06 | |
| CY2021Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
931000 | |
| CY2021Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2096000 | |
| CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2723000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7479000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7909000 |
