Aeglea BioTherapeutics reports Q4 2022 net loss of $18.8M; appoints new CEO and halts preclinical programs

Spyre Therapeutics, Inc.

Cash, equivalents, marketable securities and restricted cash of $57.3M as of Dec 31, 2022; expected to fund operations into Q4 2023.
Q4 2022 net loss $18.8M vs $20.4M in Q4 2021; full-year net loss $83.8M vs $65.8M in 2021.
Jeffrey Goldberg appointed president and CEO; Linda Neuman promoted to CMO, Cortney Caudill to chief product officer.
Pegtarviliase received FDA Fast Track Designation; EMA decision on pegzilarginase MAA expected late 2023.
Preclinical work on Cystinuria and other pipeline programs halted; company evaluating strategic options.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Spyre Therapeutics, Inc. reported the year ended December 31, 2022 results: revenue $2.3 million.

Period: the year ended December 31, 2022
Revenue: $2.3 million
Result: reported results

Exact text from the filing

Aeglea recognized development fee revenues of $2.3 million in the year ended December 31, 2022, as a result of its License and Supply Agreement.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Spyre Therapeutics, Inc. reported the quarter ended December 31, 2022 results: revenue $0.2 million, net income $18.8 million.

Period: the quarter ended December 31, 2022
Revenue: $0.2 million
Net income: $18.8 million
Result: reported results

Exact text from the filing

Aeglea recognized development fee revenues of $0.2 million in the fourth quarter of 2022, as a result of its license and supply agreement with Immedica Pharma AB for the commercial rights to pegzilarginase in Europe and several countries in the Middle East (License and Supply Agreement). The revenues recorded in the fourth quarter of 2022 are related to manufacturing services. Aeglea recognized $3.6 million for the fourth quarter of 2021 in development fee revenues. Research and development expenses totaled $14.3 million for the fourth quarter of 2022 and $16.8 million for the fourth quarter of 2021. The decrease was primarily related to a decrease in Biologics License Application (BLA) activities for pegzilarginase and reductions in headcount and recruiting activities. General and administrative expenses totaled $5.0 million for the fourth quarter of 2022 and $7.3 million for the fourth quarter of 2021. This decrease was primarily due to a reduction in commercialization activities for

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Source: SEC EDGAR

accession 0000950170-23-005699

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