Welcome to our dedicated page for Spyre Therapeutics news (Ticker: agle), a resource for investors and traders seeking the latest updates and insights on Spyre Therapeutics stock.
Spyre Therapeutics, Inc. (NASDAQ: AGLE) is a biotechnology company dedicated to advancing a robust pipeline of antibody therapeutics aimed at transforming the treatment of inflammatory bowel disease (IBD). The company was formed following the acquisition by Aeglea BioTherapeutics in June 2023, shifting the focus from rare metabolic diseases to innovative IBD treatments. Spyre combines advanced antibody engineering, rational therapeutic combinations, and precision immunology to maximize the efficacy, safety, and convenience of its treatments.
With a promising portfolio, Spyre's lead programs—SPY001 and SPY002—focus on targeting α4β7 and TL1A, respectively.
- SPY001: This program involves a highly potent and selective anti-α4β7 monoclonal antibody, engineered with half-life extension technology for high-concentration, convenient dosing. It is expected to enter first-in-human studies in the first half of 2024, with interim data anticipated by the end of 2024.
- SPY002: A highly potent anti-TL1A monoclonal antibody engineered for half-life extension, targeting both TL1A monomers and trimers with exceptional binding affinity. First-in-human studies are expected to commence in the second half of 2024, with interim data anticipated in the first half of 2025.
Additionally, Spyre is developing SPY003, a monoclonal antibody targeting the p19 subunit of IL-23, expected to enter clinical trials in 2025.
The company operates with robust financial health, having successfully raised $210 million through a private placement in June 2023, and is positioned to fund its operations into 2026. Spyre aims to address the significant and growing IBD market, which includes conditions like Crohn's disease and ulcerative colitis, affecting approximately 1.7 million patients in the United States alone.
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Spyre Therapeutics, Inc. (SYRE) will begin trading on Nasdaq under the ticker symbol 'SYRE' effective November 28, 2023. The company aims to develop a next-generation of Inflammatory Bowel Disease (IBD) products by enhancing efficacy and convenience of therapies. With $205 million in cash, cash equivalents, marketable securities, and restricted cash as of September 30, 2023, Spyre has expected runway into 2026.
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Aeglea BioTherapeutics, Inc. (AGLE) announced the approval of stock options and restricted stock units as equity inducement awards for non-executive employees, under the 2018 Equity Inducement Plan. The grants include 351,750 shares of common stock and 18,912 restricted stock units, with a 10-year term and an exercise price of $10.48 per share. The options and units will vest over time, subject to continuous service with Aeglea.
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Aeglea BioTherapeutics, Inc. (AGLE) announced progress in their IBD portfolio, with SPY001 and SPY002 on track for IND filings in 2024. The company also strengthened its leadership team, has $205 million in cash, and expects to complete a stockholder vote on November 21.
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Aeglea BioTherapeutics, Inc. has announced the approval of stock options for six non-executive employees. The options allow the purchase of an aggregate of 729,600 shares of common stock at an exercise price of $11.43 per share. The options will vest over time, with one-fourth of the shares becoming exercisable on the first anniversary of each employee's start date.
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Aeglea BioTherapeutics, Inc. (AGLE) will participate in upcoming investor conferences to present their pipeline of antibody therapeutics for inflammatory bowel disease. The conferences include Guggenheim 5th Annual Inflammation & Immunology Conference, Stifel 2023 Annual Healthcare Conference, and Jefferies 2023 London Healthcare Conference. Webcasts of the presentations can be accessed on the Aeglea website.
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Aeglea BioTherapeutics grants stock options to non-executive employees, totaling 2.9M shares, with a 10-year term and an exercise price of $11.70 per share. Options vest and become exercisable over time, subject to continuous service with Aeglea.
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Aeglea BioTherapeutics to participate in Stifel 2023 Immunology & Inflammation Virtual Summit
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Aeglea BioTherapeutics, Inc. (AGLE) announces a 1-for-25 reverse stock split to meet Nasdaq listing price per share requirements, reducing authorized shares from 500 million to 20 million. The split will take effect on September 8, 2023, and aims to transform the treatment of inflammatory bowel disease with its pipeline of antibody therapeutics.
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Aeglea BioTherapeutics announces the appointment of Scott Burrows as CFO and Heidy Abreu King-Jones as Chief Legal Officer and Corporate Secretary. The appointments strengthen Aeglea's leadership team as they advance their inflammatory bowel disease portfolio. Jonathan Alspaugh, current President and CFO, will transition into a strategic advisory role. Mr. Burrows brings over two decades of experience in biopharma finance leadership roles, while Ms. King-Jones has a proven track record in legal and corporate roles in the biopharma industry.
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Aeglea BioTherapeutics, Inc. (AGLE) announced the acquisition of Spyre Therapeutics' assets and an oversubscribed $210.0 million private investment, positioning the company to advance its inflammatory bowel disease (IBD) portfolio. The sale of legacy pipeline candidate, pegzilarginase, streamlines operations and increases focus on IBD strategy. As of June 30, 2023, the company had $236.7 million in cash and cash equivalents and restricted cash.
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FAQ
What is the market cap of Spyre Therapeutics (agle)?
The market cap of Spyre Therapeutics (agle) is approximately 48.6M.
What does Spyre Therapeutics, Inc. specialize in?
Spyre Therapeutics specializes in developing advanced antibody therapeutics aimed at transforming the treatment of inflammatory bowel disease (IBD).
What are the key programs of Spyre Therapeutics?
The key programs include SPY001, an anti-α4β7 monoclonal antibody expected to enter clinical studies in 2024, and SPY002, an anti-TL1A monoclonal antibody also projected for clinical trials in 2024.
How is Spyre Therapeutics funded?
Spyre Therapeutics secured $210 million through a private placement in June 2023, providing financial stability to fund operations into 2026.
What diseases does Spyre Therapeutics aim to treat?
Spyre Therapeutics aims to treat inflammatory bowel diseases (IBD) including Crohn's disease and ulcerative colitis.
When are the clinical studies for SPY001 and SPY002 expected to begin?
Clinical studies for SPY001 are expected to begin in the first half of 2024, while SPY002 is projected to enter clinical trials in the second half of 2024.
What sets Spyre Therapeutics' treatments apart from current IBD treatments?
Spyre Therapeutics combines best-in-class antibody engineering, rational therapeutic combinations, and precision immunology, aiming to improve the efficacy, safety, and convenience of IBD treatments.
What is the market opportunity for Spyre Therapeutics' products?
The IBD market, which includes Crohn's disease and ulcerative colitis, is substantial and growing, with an estimated 1.7 million patients in the United States alone.
Where can I find more information about Spyre Therapeutics?
For more information, visit the company's official website at www.spyretx.com and follow their social media profiles on Twitter and LinkedIn.
Spyre Therapeutics, Inc.