Spyre Therapeutics Stock Price, News & Analysis

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.

Spyre Therapeutics (NASDAQ: SYRE) has priced its public offering of 7,275,000 common stock shares at $27.50 per share, expecting to raise $200.0 million in gross proceeds. The clinical-stage biotech company, focused on IBD treatments, has granted underwriters a 30-day option to purchase up to additional 1,091,250 shares. The offering, managed by Jefferies, Goldman Sachs, Evercore Group, and Guggenheim Securities, is expected to close around November 20, 2024.

Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on inflammatory bowel disease treatment, has announced a proposed public offering of up to $200 million in common stock and pre-funded warrants. The underwriters will have a 30-day option to purchase an additional $30 million of shares. The offering will be managed by Jefferies, Goldman Sachs, Evercore Group, and Guggenheim Securities as joint book-running managers, with LifeSci Capital as lead manager. The offering is subject to market conditions and will be made through a prospectus supplement and accompanying prospectus filed with the SEC.