Business
Spyre Therapeutics Reports First Quarter 2025 Financial Results and Provides Corporate Update
On track for mid-year initiations of planned Phase 2 studies in ulcerative colitis ("UC") and rheumatoid arthritis ("RA"), providing for 7+ proof-of-concept
About this update from Spyre Therapeutics, Inc.
[{"type":"text","content":"On track for mid-year initiations of planned Phase 2 studies in ulcerative colitis (\"UC\") and rheumatoid arthritis (\"RA\"), providing for 7+ proof-of-concept readouts in 2026 & 2027\nReported extended follow-up Phase 1 data for SPY001, supporting that the molecule is well tolerated, has a pharmacokinetic (\"PK\") profile enabling quarterly or biannual dosing, and provides complete target engagement at expected Phase 2 trough concentrations\nRemain on track to report interim Phase 1 data for SPY002 later this quarter, with the potential to demonstrate a product profile superior to first-generation TL1A antibodies \nAnnounced first participant dosed in Phase 1 trial of SPY003, with interim PK and safety data readout on track for the second half of 2025\n$565 million of cash, cash equivalents, and marketable securities as of March 31, 2025, with expected runway into the second half of 2028\nWALTHAM, Mass., May 8, 2025 /PRNewswire/ -- Spyre Therapeutics, Inc. (\"Spyre\" or the \"Company\") (NASDAQ:SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, dose optimization, and rational therapeutic combinations to target improved efficacy and convenience in the treatment of inflammatory bowel disease (\"IBD\") and other immune-mediated diseases, today announced its first quarter 2025 financial results and provided program and corporate updates.\n\"We continued to efficiently execute on our ambitious strategy this quarter - presenting longer-term SPY001 Phase 1 data that further supports its potential best-in-class profile, continuing dosing with our SPY002 molecules in parallel Phase 1 trials, and initiating our fourth Phase 1 trial within nine months with SPY003,\" said Cameron Turtle, DPhil., Chief Executive Officer. \"This quarter, we look forward to sharing interim SPY002 Phase 1 data which has the potential to demonstrate a best-in-class profile for the treatment of IBD and other immune-mediated diseases, as well as a second optimized component of our potentially paradigm-changing investigational combination therapies. Following these data, we plan to embark on two fully funded, groundbreaking Phase 2 trials that will provide 7+ proof-of-concept readouts in markets with annual revenues totaling approximately $50B. With de-risked biology, an experienced team, and a strong balance sheet, we are...