Why Syros Pharmaceuticals Stock Is Soaring Today
Shares of Syros Pharmaceuticals (NASDAQ: SYRS) are soaring today, up by 15.7% as of 11:04 a.m. EST, after the company announced that Mark Alles is joining its board of directors. Alles previously served as CEO of Celgene prior to its acquisition by Bristol-Myers Squibb.
The appointment of a new director wouldn't be a major catalyst for most stocks. But small biotech stocks often spike on any positive news. And the addition of Alles, a well-known industry veteran who helped build Celgene into a major player in the biotech world, is certainly a feather in Syros' cap.
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Source Fool.com
