Spyre Therapeutics reports Q3 net loss of $69M; pipeline on track with SPY001 Phase 1 data by year-end

Spyre Therapeutics, Inc.

2024-Q3 EPS reported -$3.43

Net loss of $69.0M in Q3 2024 (vs $40.1M in Q3 2023); R&D expenses rose to $44.7M from $24.7M.
Cash, cash equivalents and marketable securities of $414.2M as of Sep 30, 2024; runway extended well into 2027.
SPY001 Phase 1 interim data expected by year-end 2024; SPY002 FIH trials initiated in Q4 2024.
Appointed Sheldon Sloan, M.D., as Chief Medical Officer, effective October 2024.
Preclinical data for SPY003 at UEGW showed >3-fold half-life extension vs risankizumab; FIH accelerated to Q1 2025.

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