Spyre Therapeutics reports Q4 2025 net loss of $62.5M; cash $756.5M; Phase 2 readouts expected Q2/Q4 2026

Spyre Therapeutics, Inc.

Q4 2025 net loss $62.5M (vs $56.3M Q4 2024); R&D expense $44.6M (vs $50.5M).
Cash, cash equivalents, and marketable securities $756.5M at Dec 31, 2025; raised $316.2M gross in Oct 2025 public offering.
On track for 6 proof-of-concept readouts in 2026: SKYLINE Part A (IBD) data expected Q2 2026; SKYWAY trial (RA, PsA, axSpA) data expected Q4 2026.
Appointed Kate Tansey Chevlen as Chief Commercial Officer.
Expected cash runway into second half of 2028.

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