Spyre Therapeutics Q1 net loss $44.8M; cash $564.8M; on track for Phase 2 starts mid-2025

Spyre Therapeutics, Inc.

Cash, cash equivalents, and marketable securities of $564.8M as of March 31, 2025.
Net loss of $44.8M for Q1 2025 vs. $43.9M in Q1 2024; R&D expenses rose to $41.6M.
Extended Phase 1 data for SPY001 supports potential quarterly or biannual dosing; Phase 2 initiation planned mid-2025.
Interim Phase 1 data for SPY002 expected Q2 2025; first participant dosed in Phase 1 trial of SPY003.
Plan to initiate Phase 2 trials in UC and RA mid-2025 with 7+ proof-of-concept readouts in 2026-2027.

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