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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), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, has announced its participation in the Stifel 2024 Virtual Immunology and Inflammation Summit. The company's management will engage in a fireside chat on Wednesday, September 18, 2024, at 12:00 p.m. Eastern time.
Spyre Therapeutics specializes in antibody engineering, rational therapeutic combinations, and precision medicine approaches to improve IBD treatment efficacy and convenience. Investors and interested parties can access a webcast replay of the fireside chat on the company's investor events website for 90 days following the event.
Spyre Therapeutics (NASDAQ:SYRE) reported its Q2 2024 financial results and provided a corporate update. Key highlights include:
- Initiated Phase 1 trial of SPY001 (anti-α4β7 antibody) with interim data expected by year-end 2024
- SPY002 (anti-TL1A antibody) on track for first-in-human trials in H2 2024
- Nominated development candidate for SPY003 (anti-IL-23 antibody), with first-in-human trial expected in H1 2025
- $426 million in cash and equivalents as of June 30, 2024, with runway into 2027
- Q2 2024 R&D expenses: $32.6 million, up from $17.4 million in Q2 2023
- Q2 2024 net loss: $38.8 million, compared to $217.1 million in Q2 2023
The company is advancing its IBD pipeline with potentially best-in-class antibodies engineered for improved efficacy and convenience.
Spyre Therapeutics (NASDAQ: SYRE) announced the dosing of first participants in a Phase 1 trial for SPY001, a novel half-life extended anti-α4β7 antibody for treating Inflammatory Bowel Disease (IBD).
Preclinical data suggests improved dosing schedules, potentially every 8-12 weeks, compared to the standard biweekly dosing.
Interim pharmacokinetic and safety data are expected by year-end 2024.
Additionally, Spyre plans to begin first-in-human studies for SPY002, an anti-TL1A antibody, in the latter half of 2024.
All three targeted antibodies (α4β7, TL1A, IL-23) are expected to be in clinical trials within the next 12 months.
The Phase 1 trial will involve approximately 48 participants, focusing on safety and pharmacokinetics.
Spyre Therapeutics (NASDAQ: SYRE), a biotech firm focused on antibody engineering and precision medicine for Inflammatory Bowel Disease (IBD), announced the approval of stock options for 83,000 shares to three non-executive employees. These inducement awards were granted by Spyre's independent Compensation Committee under the 2018 Equity Inducement Plan. The options, approved on June 3, 2024, have a 10-year term with an exercise price of $36.79. They will vest and become exercisable gradually over four years, contingent on the employees' continuous service. This aligns with Nasdaq Listing Rule 5635(c)(4).
Spyre Therapeutics (NASDAQ: SYRE), a biotechnology company specializing in antibody engineering and precision medicine for Inflammatory Bowel Disease (IBD), will participate in the Jefferies Global Healthcare Conference. The event will feature a fireside chat and investor meetings on June 5, 2024, at 9:30 a.m. Eastern time. The webcast will be available on the Spyre website for 90 days post-conference.
Spyre Therapeutics (NASDAQ: SYRE) has appointed Dr. Sandra Milligan to its Board of Directors. Dr. Milligan, currently President of Aspira Women's Health, brings extensive experience in clinical development and regulatory affairs, particularly in Inflammatory Bowel Disease (IBD). Her expertise is expected to aid Spyre as they advance their antibody therapies targeting α4β7 and TL1A into clinical studies. Dr. Milligan will replace Russell Cox, whose term ended on May 13, 2024. Jeffrey Albers has been appointed Chairman of the Board in connection with Cox's departure.
Spyre Therapeutics, Inc. reported its first-quarter 2024 financial results and provided corporate updates. The company is advancing its anti-α4β7 antibody, SPY001, and anti-TL1A antibody, SPY002, towards first-in-human studies. With $485 million in cash and expected runway until 2027, Spyre is on track to achieve significant milestones in 2024 and beyond.
Spyre Therapeutics, Inc. announced the approval of grants of stock options to 4 non-executive employees as equity inducement awards. These options were granted under the 2018 Equity Inducement Plan with a 10-year term and an exercise price of $33.87 per share. The options will vest over time, subject to continuous service with Spyre.
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