---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-260421"
form_type: "8-K"
ticker: null
cik: "0001556263"
company_name: "Syros Pharmaceuticals, Inc."
filed_at: "2024-11-18T23:59:59+00:00"
generated_at: "2026-05-29T23:01:25.376160+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Syros terminates QIAGEN pact, defaults on $43.7M loan, cuts 94% of staff, replaces CEO

## Summary
- Phase 3 SELECT-MDS-1 trial failure triggers termination of QIAGEN companion diagnostic agreement.
- Oxford Finance declares $43.7M immediately due; Syros pays $33.5M, plans forbearance negotiations.
- Workforce reduced by ~94%; CEO Conley Chee, CFO Jason Haas, CMO David Roth terminated without cause.
- Board members Andrew Oh, Srinivas Akkaraju, Deborah Dunsire, and others resign; Gerald Quirk appointed CEO.
- Gerald Quirk, previously Chief Legal & Compliance Officer, becomes President & CEO effective Nov 22, 2024.

## SEC filing metadata
- accession: 0001193125-24-260421
- form_type: 8-K
- cik: 0001556263
- company_name: Syros Pharmaceuticals, Inc.
- filed_at: 2024-11-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.02, 2.04, 2.05, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/d874889d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-260421
- JSON: https://secwatch.observer/filing/0001193125-24-260421.json
- Plain text: https://secwatch.observer/filing/0001193125-24-260421.txt

## Key facts
- Executive change
  Timothy Tyson resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  David Roth was terminated as Chief Medical Officer at Syros Pharmaceuticals, Inc..
  - Action: terminated
  - Role: Chief Medical Officer
  source text: On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  S. Gail Eckhardt resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Conley Chee resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: In addition, Mr. Chee resigned from the Board of Directors and all committees or subcommittees thereof, effective upon his termination of employment on November 22, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Deborah Dunsire resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Conley Chee was terminated as President and Chief Executive Officer at Syros Pharmaceuticals, Inc..
  - Action: terminated
  - Role: President and Chief Executive Officer
  source text: On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Srinivas Akkaraju resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Andrew M. Oh resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 12, 2024, Andrew M. Oh notified the Board of Directors of the Company of his resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Jason Haas was terminated as Chief Financial Officer at Syros Pharmaceuticals, Inc..
  - Action: terminated
  - Role: Chief Financial Officer
  source text: On November 14, 2024, in connection with the reduction in workforce, the Company notified each of Conley Chee, the Company’s President and Chief Executive Officer, Jason Haas, the Company’s Chief Financial Officer, and Dr. David Roth, the Company’s Chief Medical Officer, that the employment of such officers with the Company will terminate without cause, effective as of November 22, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Gerald Quirk was appointed as President and Chief Executive Officer at Syros Pharmaceuticals, Inc..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On November 15, 2024, the Board of Directors appointed Gerald Quirk, Esq., currently the Company’s Chief Legal & Compliance Officer and Chief Business Officer, to serve as the Company’s President and Chief Executive Officer effective as of November 22, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Executive change
  Richard Young resigned as Director at Syros Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Director
  source text: On November 15, 2024, Srinivas Akkaraju, M.D., Ph.D., Deborah Dunsire, M.D., S. Gail Eckhardt, M.D., Timonthy Tyson, and Richard Young, Ph.D., each notified the Board of Directors of such director’s resignation from the Board of Directors and all committees or subcommittees thereof, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm
- Restructurings & Charges
  Syros Pharmaceuticals, Inc. announced a restructuring (approximately 94%).
  - Type: restructuring
  - Headcount: approximately 94%
  source text: On November 12, 2024, the Company’s authorized officers, with the endorsement of the Company’s Board of Directors, committed to implementing a reduction in workforce by approximately 94%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556263/000119312524260421/0001193125-24-260421-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.