secwatch.observer — SEC 8-K summary
======================================

Issuer:     Spyre Therapeutics, Inc. (SYRE)
CIK:        0001636282
Form:       8-K
Filed at:   2026-05-05T23:59:59+00:00
Accession:  0001636282-26-000051
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spyre Q1 net loss $69M; SPY001 hits primary endpoint; cash runway to H2 2029
----------------------------------------------------------------------------

- Net loss of $69.0M in Q1 2026 vs $44.8M in Q1 2025; R&D expenses $60.4M (up from $41.6M).
- Pro forma cash $1,176.8M as of March 31, 2026, including $435.3M net from April 2026 offering; runway into H2 2029.
- SPY001 achieved primary endpoint in Part A of SKYLINE: RHI score reduction 9.2 points (p<0.0001); clinical remission 40%, endoscopic improvement 51%.
- SPY001 safety consistent with α4β7 class; RA sub-study of SKYWAY over-enrolled, topline readout accelerated to Q3 2026.
- On track for 6 proof-of-concept readouts in 2026 across SKYLINE and SKYWAY Phase 2 trials.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636282/000163628226000051/0001636282-26-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636282/000163628226000051/syre-20260505.htm
  HTML page:      https://secwatch.observer/filing/0001636282-26-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer