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Spyre Therapeutics — Third Quarter 2026 Earnings Summary

  • Reported a net loss of $96.1 million for Q3 2026 versus $11.2 million in Q3 2025, driven by a $43.5 million increase in R&D expenses and a $36.1 million decrease in other income due to CVR liability changes.
  • Completed Phase 2 SKYLINE Part A with positive topline data for all three IBD monotherapies (SPY001, SPY002, SPY003); SKYLINE Part B is enrolling ahead of schedule, while SPY072 will not be advanced in rheumatic diseases due to insufficient efficacy.
  • Raised $378.0 million via an October 2026 underwritten public offering and $18.0 million via at-the-market sales, bringing total pro forma cash and marketable securities to $1,467.9 million and extending the cash runway into the second half of 2029.
  • Outlined future milestones including SKYLINE Part B topline results in Q3 2027, pivotal studies for an anti-TL1A monotherapy in HS in 2027, and SKYLIGHT Phase 2 HS data expected in late 2027 or early 2028.
Company
SPYRE THERAPEUTICS INC
Sector
Healthcare
Industry
Biotechnology