Spyre Therapeutics SEC Filings

Spyre Therapeutics (SYRE) filed an 8-K announcing two updates: it furnished a press release with financial results for the quarter ended September 30, 2025, and reported positive interim Phase 1 data for SPY003, an extended half-life monoclonal antibody targeting IL‑23.

The first‑in‑human, randomized, double‑blind, placebo‑controlled study enrolled 59 healthy adults across single‑ascending, multiple‑dose, and a Chinese ethnobridging cohort. SPY003 was well tolerated at all dose levels, with two Grade 2 or higher treatment‑emergent adverse events deemed not treatment‑related and no serious adverse events; headache was the only event seen in two or more subjects.

Pharmacokinetic data showed an approximate 85‑day half‑life with dose proportionality and limited intrasubject variability, described as more than three times risankizumab’s published half‑life. The company stated this profile supports the potential for quarterly or twice‑yearly maintenance dosing via a single subcutaneous injection. No apparent impact of anti‑drug antibodies on PK was observed. Spyre noted plans to advance SPY003 into the SKYLINE Phase 2 platform study.

Spyre Therapeutics, Inc. (SYRE) reported a smaller quarterly loss as non-operating gains offset steady R&D spend. For the three months ended September 30, 2025, net loss was $11.2 million versus $69.0 million a year ago. Operating expenses were $56.9 million, including $45.2 million in research and development and $11.6 million in general and administrative costs. Other income totaled $45.7 million, aided by the decrease in the CVR liability recorded in other income (expense).

Liquidity remained strong with $486.2 million in cash, cash equivalents and marketable securities as of September 30, 2025. The CVR liability fell to $14.25 million from $61.7 million at year‑end. Cash used in operating activities for the nine months was $124.7 million. Stockholders’ equity was $455.1 million.

Subsequent to quarter end, on October 15, 2025, the company closed an underwritten offering of common stock for net proceeds of $296.5 million. Shares of common stock outstanding were 60,471,793 as of September 30, 2025, and 77,592,130 as of October 29, 2025.

Spyre Therapeutics (SYRE) completed an underwritten public offering of common stock. The company sold 14,864,865 shares at $18.50 per share and granted a 30-day option for up to 2,229,729 additional shares, which the underwriters exercised in full on October 14, 2025. The offering closed on October 15, 2025.

Gross proceeds were approximately $316.2 million before underwriting discounts, commissions, and expenses. Spyre plans to use the net proceeds to advance its inflammatory bowel disease and rheumatic disease programs, including preclinical work, clinical trials, manufacturing, and Phase 3 readiness, as well as for working capital and general corporate purposes. The transaction was conducted off an effective Form S-3 shelf, with Jefferies, TD Securities (USA), Leerink Partners, and Stifel as representatives of the underwriters.

Spyre Therapeutics (SYRE) is offering 14,864,865 shares of common stock at $18.50 per share. The deal implies $275,000,002 in gross proceeds, underwriting discounts of $16,500,000, and estimated net proceeds of about $257.7 million after expenses. Underwriters have a 30‑day option to purchase up to 2,229,729 additional shares.

The company plans to use proceeds to advance programs in inflammatory bowel disease and rheumatic diseases, including preclinical work, clinical trials, manufacturing, and Phase 3 readiness, plus working capital and general corporate purposes. Shares trade on Nasdaq as SYRE; the last reported price was $18.92 on October 13, 2025. Delivery of shares is expected on or about October 15, 2025.

The filing highlights dilution to new investors of $9.02 per share based on the pro forma as‑adjusted net tangible book value analysis. As context, the company preliminarily reported $486.2 million in cash, cash equivalents and marketable securities as of September 30, 2025.

Spyre Therapeutics (SYRE) launched a primary offering of common stock and, in lieu of shares for certain investors, pre-funded warrants under its effective Form S-3 shelf. The company will receive the proceeds and has also granted underwriters an option to purchase additional shares within 30 days. The pre-funded warrants have a $0.0001 per-share exercise price and include beneficial ownership limits.

Spyre plans to use proceeds to advance its IBD and rheumatic disease programs, including preclinical work, clinical trials, manufacturing, and Phase 3 readiness, as well as for working capital and general corporate purposes. The company reported preliminary cash, cash equivalents and marketable securities of $486.2 million as of September 30, 2025. SYRE trades on Nasdaq; the pre-funded warrants will not be listed.

Spyre Therapeutics announced it expects to report approximately $486.2 million in cash, cash equivalents and marketable securities as of September 30, 2025.

The figure is preliminary, has not been audited, and remains subject to completion of financial closing procedures. The company’s independent registered public accounting firm has not audited, reviewed, or performed procedures on this information and does not express assurance. The disclosure was provided under Item 2.02 of an 8-K and is furnished, not filed.

Spyre Therapeutics CFO Scott L. Burrows reported a sell-to-cover transaction tied to the settlement of restricted stock units. The filing shows 18,428 shares of common stock were sold at a weighted average price reported near $16.26, generated to satisfy tax withholding obligations arising from the settlement of 33,738 RSUs. Following the sale, the reporting person beneficially owns 97,994 shares outright.

The report also discloses an additional 67,476 RSUs that remain outstanding; those RSUs vest in two equal installments on September 1, 2026 and September 1, 2027, subject to continued employment. The transaction is described as non-discretionary and solely for tax withholding.