Earnings ·
Spyre Therapeutics reports Q3 net loss of $96.1M, raises over $400M in equity offering
SYRESpyre Therapeutics, Inc.
Spyre Therapeutics reported a third-quarter net loss of $96.1 million, or $0.94 per share, compared to a loss of $11.2 million in the prior-year period. The wider loss was driven by higher research and development expenses of $89.2 million, up from $45.2 million, due to increased manufacturing costs and clinical trial activity. General and administrative expenses rose to $16.6 million from $11.6 million. The company raised over $400 million in gross proceeds from an underwritten public offering of common stock in October 2026, bringing pro forma cash resources to approximately $1.5 billion with runway into the second half of 2029. Clinically, Spyre announced positive induction data for SPY003 in its Phase 2 SKYLINE trial for inflammatory bowel disease and reported that SPY072 did not meet primary endpoints in rheumatic diseases, leading to a decision not to advance it further in those indications. Spyre Therapeutics is a clinical-stage biotechnology company developing next-generation immunology therapies.