Aeglea closes Spyre asset acquisition, raises $210M, sells pegzilarginase, reports Q2 loss

Spyre Therapeutics, Inc.

Acquired Spyre's IBD pipeline (α4β7 and TL1A) for stock; raised $210M gross via Series A preferred private placement.
Sold pegzilarginase rights to Immedica for $15M upfront + up to $100M milestones; net proceeds to CVR holders.
Cash and equivalents $236.7M at June 30, including $210M financing; Q2 net loss $217.1M from acquisition-related charges.
Net loss includes $130.5M acquired IPR&D expense and $58.2M forward contract liability expense.
Expect SPY001 FIH study in H1 2024; SPY002 FIH study in H2 2024; healthy volunteer data by end-2024 / H1 2025.

item 2.02 item 9.01

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 financial results for the quarter ended June 30, 2023.

Period: the quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 11, 2023, Aeglea BioTherapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2023.

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

Spyre Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-041586

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