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Spyre Therapeutics, Inc. (NASDAQ: SYRE) is a leading biotechnology company focused on transforming the treatment landscape for Inflammatory Bowel Disease (IBD). By leveraging cutting-edge antibody engineering, rational therapeutic combinations, and precision medicine, Spyre aims to develop next-generation IBD therapies. Two main forms of IBD are Ulcerative Colitis (UC) and Crohn's Disease (CD), which affect millions globally.
Founded in 2013, Spyre has been making significant strides in the field with a strong pipeline of investigational drugs targeting key molecules involved in IBD. The Company's lead candidates include SPY001 and SPY002, both of which are extended half-life monoclonal antibodies. SPY001 targets integrin α4β7, and SPY002 targets TL1A, showing promising results in preclinical studies. These candidates are set for presentation at the 19th Annual Congress of the European Crohn's and Colitis Organisation (ECCO) in February 2024.
Spyre's approach includes developing precision diagnostics to match patients with the most effective therapies. This method ensures that treatments are not only potent but also tailored to individual needs, enhancing efficacy and safety. The company is also investigating rational therapeutic combinations, which could offer comprehensive solutions for IBD patients.
Financially, Spyre is robust, having secured nearly $400 million in funding from top-tier investors. This financial strength supports their ambitious R&D programs and the anticipated start of Phase 1 clinical trials for SPY001 and SPY002. Spyre’s management team, led by CEO Cameron Turtle, DPhil., is committed to advancing their mission of developing best-in-class IBD treatments.
Recent corporate updates reveal a solid cash position with $485 million available as of March 31, 2024. This financial cushion ensures sustained operations and development activities well into 2027. Spyre continues to attract top talent, evidenced by recent stock option grants to new employees as part of their equity inducement plan.
For more information, visit Spyre's website or follow them on social media: @spyretx and LinkedIn.
Spyre Therapeutics (NASDAQ:SYRE) reported Q4 and full year 2024 results, highlighting positive interim data from its Phase 1 trial of SPY001. The company strengthened its position with a $230 million public offering and maintains $603.1 million in cash reserves, extending runway into H2 2028.
Key developments include planned Phase 2 platform trial initiation in ulcerative colitis by mid-2025, expansion into rheumatoid arthritis with SPY002, and multiple expected data readouts. Q4 2024 financial results showed R&D expenses of $50.5 million (up from $33.7M in Q4 2023), G&A expenses of $10.8 million (down from $14.1M), and a net loss of $56.3 million.
The company's pipeline focuses on three validated targets in IBD treatment, with potential for subcutaneous maintenance dosing as monotherapy or combinations. Interim results for SPY001 showed favorable safety profiles and extended half-life supporting potential Q6M maintenance dosing.
Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotechnology company focused on antibody engineering and therapeutic combinations for Inflammatory Bowel Disease (IBD) and other immune-mediated diseases, has announced its participation in two upcoming investor conferences in March 2025.
The company will attend the TD Cowen 45th Annual Healthcare Conference in Boston on March 4, 2025, where management will participate in a fireside chat at 3:10pm ET and hold one-on-one meetings. Additionally, Spyre will be present at the Jefferies Biotech on the Beach Summit in Miami on March 11, 2025, for one-on-one meetings.
Live audio webcasts and replays of the TD Cowen fireside chat will be available on the company's investor events website at https://ir.spyre.com/events-and-presentations.
Spyre Therapeutics (NASDAQ: SYRE) presented preclinical findings at the 20th Congress of the European Crohn's and Colitis Organisation (ECCO) demonstrating superior results from combined inhibition of α4β7 integrin and TL1A cytokine compared to individual treatments in mouse colitis models.
The research showed that the company's SPY120 program achieved additive or greater than additive efficacy through combined target inhibition. Pharmacokinetic studies in non-human primates revealed that SPY001 and SPY002 antibodies maintained similar profiles whether administered alone or in combination, suggesting potential for quarterly or twice-annual dosing in humans.
The company plans to initiate a Phase 2 trial in ulcerative colitis patients by mid-2025, testing three combinations: SPY120, SPY130, and SPY230.
Spyre Therapeutics (NASDAQ: SYRE) has announced the approval of inducement stock options for three non-executive employees by its independent Compensation Committee. The grants include options to purchase 35,000 shares of common stock under the company's 2018 Equity Inducement Plan.
The stock options were approved on February 3, 2025, with a 10-year term and an exercise price of $22.65, matching Spyre's closing share price on that date. The vesting schedule includes 25% of shares vesting on the first employment anniversary, followed by monthly vesting of 1/48th of shares thereafter, contingent on continuous service with the company.
Spyre Therapeutics (NASDAQ: SYRE) outlined its 2025 priorities, focusing on its robust clinical pipeline and financial stability. Key highlights include:
Clinical Developments:
- Phase 1 interim results for SPY002 and SPY003 expected in 2Q2025 and 2H2025, respectively.
- Phase 2 platform trial in ulcerative colitis (UC) to start mid-2025, with initial results in 2026.
- Expansion into rheumatoid arthritis (RA) with SPY002; Phase 2 trial initiation in mid-2025 and results in 2026.
Financial Position:
- Preliminary cash and equivalents balance of over $600M as of December 31, 2024, providing runway into 2H2028.
CEO Cameron Turtle emphasized the company's progress in 2024, including first-in-human studies for SPY001 and SPY002 with promising interim results. The company plans to conduct a groundbreaking Phase 2 platform study in UC, testing monotherapies and combination therapies under a single protocol. SPY002's expansion into RA is supported by pre-clinical evidence, showcasing its potential as a first-in-class treatment. Spyre aims to deliver four clinical proof-of-concept readouts in 2026.
Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on IBD treatments, has announced the approval of inducement stock options by its independent Compensation Committee. The grant includes options to purchase 21,000 shares of common stock awarded to one non-executive employee under the company's 2018 Equity Inducement Plan.
The stock options come with a 10-year term and an exercise price of $24.35, matching Spyre's closing share price on January 2, 2025. The vesting schedule includes 25% after the first year of employment, followed by monthly vesting of 1/48th of the shares, contingent on continuous service with the company.
Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, has announced its addition to the Nasdaq Biotechnology Index (NBI), effective December 23, 2024. The inclusion comes as part of the NBI's annual evaluation process. Companies must meet specific eligibility criteria including minimum market capitalization, average daily trading volume, and public company seasoning requirements. The NBI tracks performance of biotechnology and pharmaceutical securities listed on Nasdaq and operates under a modified capitalization-weighted methodology.
Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on IBD treatments, has announced the approval of inducement stock options for three non-executive employees. The Compensation Committee granted options to purchase 45,000 shares of common stock at an exercise price of $27.65 per share. The options have a 10-year term and will vest over four years, with 25% vesting after the first year and the remaining vesting monthly over the following three years. These grants were made under the company's 2018 Equity Inducement Plan and align with Nasdaq Listing Rule 5635(c)(4).
Spyre Therapeutics (NASDAQ: SYRE) has initiated Phase 1 clinical trials for two half-life extended anti-TL1A antibodies, with first participants already dosed. The SPY002 molecules demonstrate picomolar potency and potential for quarterly or twice-yearly dosing, compared to current first-generation treatments requiring dosing every 2-4 weeks. Interim data is expected in Q2 2025, with plans to advance to Phase 2 studies in ulcerative colitis and beyond IBD. The company maintains a strong financial position with over $630M in proforma cash, providing runway into H2 2028.
Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, has announced its participation in the 7th Annual Evercore ISI HealthCONx Conference. The company will engage in a fireside chat and investor meetings on Tuesday, December 3, 2024, at 7:30 a.m. Eastern time.
The event will be accessible via webcast through the 'Events & Presentations' section of Spyre's investor relations website at ir.spyre.com, with a replay available after the conference.
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