Spyre Therapeutics, Inc. (SYRE): restructuring charge — Aeglea cuts 83% of workforce, explores strategic alternatives after mixed trial data

Spyre Therapeutics, Inc.

Workforce reduced by 50 (~83% of headcount) to ~10 employees; $6.2M restructuring charges expected in Q2 2023.
CBO Michael Hanley and CMO Linda Neuman depart effective April 14, 2023.
Interim Phase 1/2 pegtarviliase trial: dose-dependent homocysteine reduction in cohorts 1–2 but not consistent in cohort 3; ADAs observed.
Company engages Wedbush Securities to explore strategic alternatives including sale or merger; no timetable set.
Pegzilarginase MAA under EMA review with potential EU decision in late 2023; partnered with Immedica.

item 2.05 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Linda Neuman

Chief Medical Officer

SYRE · Spyre Therapeutics, Inc.

Effective: 2023-04-14
Filed: April 12, 2023, 7:59 PM ET

Michael Hanley, the Company’s Chief Business Officer, and Linda Neuman, the Company’s Chief Medical Officer, will be departing from the Company, effective April 14, 2023.

Departed

Michael Hanley

Chief Business Officer

SYRE · Spyre Therapeutics, Inc.

Effective: 2023-04-14
Filed: April 12, 2023, 7:59 PM ET

Michael Hanley, the Company’s Chief Business Officer, and Linda Neuman, the Company’s Chief Medical Officer, will be departing from the Company, effective April 14, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Linda Neuman departed as Chief Medical Officer at Spyre Therapeutics, Inc..

Action: departing
Role: Chief Medical Officer

Exact text from the filing

Michael Hanley, the Company’s Chief Business Officer, and Linda Neuman, the Company’s Chief Medical Officer, will be departing from the Company, effective April 14, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Hanley departed as Chief Business Officer at Spyre Therapeutics, Inc..

Action: departing
Role: Chief Business Officer

Exact text from the filing

Michael Hanley, the Company’s Chief Business Officer, and Linda Neuman, the Company’s Chief Medical Officer, will be departing from the Company, effective April 14, 2023.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Spyre Therapeutics, Inc. announced a restructuring with charges of approximately $6.2 million (50 people, or approximately 83% of the Company’s existing headcount).

Type: restructuring
Charge: approximately $6.2 million
Headcount: 50 people, or approximately 83% of the Company’s existing headcount

Exact text from the filing

headcount, retaining approximately 10 employees. The restructuring was communicated to employees on April 11, 2023. The Company estimates that it will incur approximately $6.2 million in employee-related restructuring charges in connection with the restructuring, consisting of (i) approximately $5.6 million in cash-based expenses related to employee severance

View on SEC.gov

3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Spyre Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-098539

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.