---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-241316"
form_type: "8-K"
ticker: "SYRE"
cik: "0001636282"
company_name: "Spyre Therapeutics, Inc."
filed_at: "2023-09-25T23:59:59+00:00"
generated_at: "2026-06-10T09:13:41.313527+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Aeglea regains Nasdaq compliance, enters WuXi Biologics deals, details CFO separation

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-241316
- form_type: 8-K
- ticker: SYRE
- cik: 0001636282
- company_name: Spyre Therapeutics, Inc.
- filed_at: 2023-09-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/0001193125-23-241316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/d519116d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-241316
- JSON: https://secwatch.observer/filing/0001193125-23-241316.json
- Plain text: https://secwatch.observer/filing/0001193125-23-241316.txt

## Key facts
- Listing & Compliance Notices
  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)
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/0001193125-23-241316-index.htm
- Executive change
  Scott Burrows was appointed as Chief Financial Officer at Spyre Therapeutics, Inc..
  - Action: succeeded
  - Role: Chief Financial Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/0001193125-23-241316-index.htm
- Executive change
  Jonathan Alspaugh changed role as Chief Financial Officer at Spyre Therapeutics, Inc..
  - Action: transitioned into strategic advisory consulting role
  - Role: Chief Financial Officer
  source text: The Report also disclosed the expected transition of Mr. Alspaugh into a strategic advisory consulting role at the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/0001193125-23-241316-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636282/000119312523241316/0001193125-23-241316-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.