“We are actively looking to see if we can get someone on board but I have to stress that it must be the right person.”
Dwyer, 22, started out as a trainee with Norwich City but has spent his senior career in the United States after attending Tyler Junior College, in Texas.
After winning the national Junior College Player of the Year award, he moved to the University of South Florida before turning professional with Kansas City 12 months ago.
And, with the MLS season currently inactive, it was hoped Dwyer would boost St Mirren’s firepower before returning to America ahead of the start of the new campaign there on March 16.
However, bosses at Sporting Kansas and the MLS – who ‘co-own’ the player – were opposed to the move.
That has left Dwyer disappointed – but he took to Twitter to say he might still get the chance to pull on a St Mirren shirt some time in the future.
He added: “To everyone at St Mirren, thank you. Unfortunately, a loan could not be completed, not at any fault of St Mirren. #NextYearMaybe.
“Wish St Mirren all the best through the rest of the season.”
Last night, St Mirren chief executive Brian Caldwell said the club has “plenty of irons in the fire” when it comes to new signings now that the Dwyer deal is dead.
He added: “We made contact with the MLS and Sporting Kansas to see if there was a possibility that we could take Dom on loan and we had been informed they would get back to us on Christmas Eve with an answer.
“When we didn’t get one, we had some concerns and we have since had communication to say they do not want the player to go on loan.
“Some you win and some you lose. We’re now looking at a few other options and, hopefully, they can come to a successful conclusion.”