secwatch.observer — SEC 8-K summary
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Issuer:     Spyre Therapeutics, Inc. (SYRE)
CIK:        0001636282
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0001636282-24-000105
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Spyre Therapeutics restates net loss per share from 2023-2024; material weakness in controls
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- Restating audited and unaudited financials from Dec 31, 2023 to Sep 30, 2024 due to misapplication of GAAP in EPS calculation for preferred stock.
- Common stock net loss per share changed for all affected periods; e.g., Q3 2024 revised from ($1.36) to ($1.06).
- Series A Preferred stock EPS restated (e.g., Q3 2024: ($42.22) vs. not previously reported).
- Material weakness in internal controls over financial reporting identified; remediation plan to be filed.
- No impact on cash position or other financial data; amendments to prior filings expected soon.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636282/000163628224000105/0001636282-24-000105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636282/000163628224000105/syre-20241118.htm
  HTML page:      https://secwatch.observer/filing/0001636282-24-000105

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