8-K
filed September 25, 2023, 7:59 PM ET
ticker SYRE
CIK 0001636282
other material
confidence high
sentiment neutral
materiality 0.60
Spyre Therapeutics, Inc. (SYRE): Nasdaq/NYSE listing notice — Aeglea regains Nasdaq compliance, enters WuXi Biologics deals, details CFO separation
Spyre Therapeutics, Inc.
- Regained Nasdaq minimum bid price compliance after 1-for-25 reverse stock split effective Sept 8, 2023.
- Novated WuXi Biologics MSA for SPY001 program; term through June 2027 or completion of work orders.
- Entered cell line license agreement with WuXi Biologics; $150k license fee plus potential single-digit royalty on third-party manufactured sales.
- Former CFO Jonathan Alspaugh severance: $623k cash, $168k retention bonus, $500/hr consulting fee through Feb 2024, and accelerated option vesting.
Key facts
Extracted from this filing and checked against the source text.
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
Spyre Therapeutics, Inc. received a nasdaq compliance regained notice regarding minimum bid price (rules 5550(a)(2)).
- Exchange
- nasdaq
- Notice
- compliance regained
- Deficiency
- minimum bid price
- Rules
- 5550(a)(2)
Exact text from the filing
September 22, 2023, the Company received a letter (the “Compliance Letter”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it had regained compliance with the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Compliance Letter noted that (1) the Company’s common stock, par value $0.0001 per share (the “Common Stock”), had a closing bid price of at least $1.00 per share for a minimum of ten consecutive
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott Burrows was appointed as Chief Financial Officer at Spyre Therapeutics, Inc..
- Action
- succeeded
- Role
- Chief Financial Officer
Exact text from the filing
On September 5, 2023, the Company filed a Current Report on Form 8-K (the “Report”) to disclose that, effective September 1, 2023, Scott Burrows succeeded Jonathan Alspaugh as the Company’s Chief Financial Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jonathan Alspaugh changed role as Chief Financial Officer at Spyre Therapeutics, Inc..
- Action
- transitioned into strategic advisory consulting role
- Role
- Chief Financial Officer
Exact text from the filing
The Report also disclosed the expected transition of Mr. Alspaugh into a strategic advisory consulting role at the Company.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.85
Spyre Therapeutics, Inc. entered into Cell Line License Agreement with WuXi Biologics (Hong Kong) Limited valued at non-refundable license fee of $150,000.
- Action
- entry
- Agreement
- license
- Counterparty
- WuXi Biologics (Hong Kong) Limited
- Value
- non-refundable license fee of $150,000
Exact text from the filing
In April 2023, Paragon and WuXi Biologics entered into a cell line license agreement (the “Cell Line License Agreement”), which was subsequently novated to the Company by Paragon pursuant to the Novation Agreement.
View on SEC.gov
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