---
schema_version: "secwatch.filing_event.v1"
accession: "0001636282-25-000091"
form_type: "8-K"
ticker: "SYRE"
cik: "0001636282"
company_name: "Spyre Therapeutics, Inc."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T20:45:28.560088+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Spyre Q2 net loss $36.7M; cash $526.6M; initiates Phase 2 SKYLINE-UC; TL1A data positive

## Summary
- Net loss of $36.7M for Q2 2025 ($38.8M in Q2 2024); stock-based compensation $9.4M.
- Cash, equivalents, and marketable securities of $526.6M as of June 30, 2025; expected runway into H2 2028.
- R&D expense rose to $40.1M from $32.6M YoY on higher clinical trial costs; recognized $10.0M gain on sale of legacy asset pegzilarginase.
- Positive interim Phase 1 data for two anti-TL1A antibodies (SPY002/SPY072): well-tolerated, PK supports Q3M/Q6M dosing, full TL1A engagement to 20 weeks.
- Initiated Phase 2 SKYLINE-UC platform in May; on track to start Phase 2 SKYWAY-RD basket study in Q3 2025; SPY003 Phase 1 data expected Q4 2025.

## SEC filing metadata
- accession: 0001636282-25-000091
- form_type: 8-K
- ticker: SYRE
- cik: 0001636282
- company_name: Spyre Therapeutics, Inc.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636282/000163628225000091/0001636282-25-000091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636282/000163628225000091/syre-20250805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001636282-25-000091
- JSON: https://secwatch.observer/filing/0001636282-25-000091.json
- Plain text: https://secwatch.observer/filing/0001636282-25-000091.txt

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