Spyre Therapeutics Stock Price, News & Analysis

Spyre Therapeutics (NASDAQ: SYRE) announced positive interim Phase 1 results for SPY001, its novel anti-α4β7 antibody for Inflammatory Bowel Disease treatment. The drug showed a favorable safety profile and exceeded expectations with a >90-day half-life, approximately 4 times longer than vedolizumab. The single lowest dose achieved complete α4β7 receptor saturation through Week 12.

The trial included 56 healthy participants across multiple dosing cohorts, with no serious adverse events reported. Based on these results, Spyre plans to initiate a platform Phase 2 trial in mid-2025, which will evaluate SPY001, SPY002, SPY003, and their combinations for treating ulcerative colitis.

Spyre Therapeutics (NASDAQ: SYRE) announced it will present interim results from its Phase 1 healthy volunteer trial of SPY001, a novel half-life extended anti-α4β7 antibody designed to treat Inflammatory Bowel Disease (IBD). The company will host a conference call and webcast on November 12, 2024, at 8:00am ET to discuss the findings. The webcast will be accessible through Spyre's Investor Relations webpage and will be archived for -time viewing.

Spyre Therapeutics announced its third quarter 2024 financial results and provided corporate updates. The company has $414 million in cash, cash equivalents, and marketable securities as of September 30, 2024, with an expected runway into 2027. Net loss for Q3 2024 was $69 million, compared to $40.1 million in Q3 2023. R&D expenses increased to $44.7 million due to ongoing IBD pipeline development.

Key pipeline updates include:

• SPY001: Interim Phase 1 data expected by year-end 2024.
• SPY002: First-in-human trials to begin in Q4 2024.
• SPY003: Accelerated first-in-human trials to Q1 2025.

New preclinical data for SPY003 showed a three-fold increase in half-life compared to risankizumab. Spyre also plans to investigate combination therapies to maximize efficacy in treating IBD.

Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, announced the approval of inducement stock options for two non-executive employees. The Compensation Committee granted options to purchase 90,000 shares of common stock under the 2018 Equity Inducement Plan. The options have a 10-year term with an exercise price of $33.98, matching Spyre's closing share price on November 1, 2024. The options vest 25% after one year and the remaining monthly over four years, contingent on continued employment.

Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, has announced its participation in three major healthcare investor conferences this November. The company will present at Guggenheim's Inaugural Healthcare Innovation Conference (Nov 13), the Stifel 2024 Healthcare Conference (Nov 18), and the Jefferies London Healthcare Conference (Nov 20). Live audio webcasts and replays will be accessible through Spyre's investor events website.

Spyre Therapeutics (NASDAQ: SYRE) announced accelerated timelines for SPY003, its novel half-life extended IL-23p19 monoclonal antibody, with first-in-human dosing now expected in Q1 2025. New data presented at UEGW showed SPY003's robust preclinical activity, including comparable potency and >3-fold half-life extension in NHPs relative to risankizumab. Spyre's portfolio now includes extended half-life molecules targeting α4β7, TL1A, and IL-23 with potential Q8W-Q12W maintenance dosing.

Additional preclinical data on SPY003 in combination with SPY001 or SPY002 demonstrated enhanced efficacy and pharmacodynamics. The company expects to share interim data from the accelerated first-in-human trial in H2 2025. Spyre also presented preclinical data on SPY001 (anti-α4β7) and SPY002 (anti-TL1A) at UEGW, supporting potential Q8-12W dosing regimens in IBD.

Spyre Therapeutics, Inc. (NASDAQ: SYRE), a clinical-stage biotechnology company focused on Inflammatory Bowel Disease (IBD) treatment, has announced the approval of inducement awards by its independent Compensation Committee. The awards include:

1. Stock options to purchase 400,000 shares of common stock granted to Dr. Sheldon Sloan, the new Chief Medical Officer.

2. Stock options to purchase an aggregate of 129,000 shares of common stock granted to four non-executive employees.

These equity inducement awards were approved on October 1, 2024, under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan. The stock options have a 10-year term and an exercise price of $27.46, matching the closing price of Spyre's common stock on October 1, 2024. The vesting schedule includes 25% after one year and 1/48th monthly thereafter, subject to continuous service with Spyre.

Spyre Therapeutics (NASDAQ: SYRE) has appointed Dr. Sheldon Sloan as Chief Medical Officer. Dr. Sloan brings over 25 years of experience in pharmaceutical and biotech companies, with expertise in Inflammation and Immunology. His career includes leadership roles at J&J, Arena Pharmaceuticals, Pfizer, and Abivax.

Dr. Sloan's appointment comes as Spyre prepares to advance its programs into clinical trials over the next several months and initiate Phase 2 studies in 2025. His experience includes leading the Phase 3 development of obefazimod at Abivax and the development of etrasimod at Arena and Pfizer.

Spyre Therapeutics is focused on developing innovative therapies for inflammatory bowel disease (IBD) using antibody engineering, therapeutic combinations, and precision medicine approaches.

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.