Spyre Therapeutics, Inc.
SYRE evidence brief
What we can confirm
- BioSniper Score:
- 4.9 / 10
- Market Cap:
- $7.88B
What it means
What to watch
Prepared research question
What matters most for SYRE—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · SYRE
Spyre Therapeutics, Inc. (SYRE) is a clinical-stage biotechnology company developing next-generation antibody monotherapies and combinations for inflammatory bowel disease and other immune-mediated diseases, with a focus on extended half-life antibodies targeting α4β7, TL1A, and IL-23 [sec_mda · as of 2026-08-04].
Key risk: Operating losses expected to increase
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$7.88B
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 8 clinical trials for Spyre Therapeutics, Inc..
Spyre Therapeutics, Inc. (SYRE) is a clinical-stage biotechnology company developing next-generation antibody monotherapies and combinations for inflammatory bowel disease and other immune-mediated diseases, with a focus on extended half-life antibodies targeting α4β7, TL1A, and IL-23 [sec_mda · as of 2026-08-04].
- Cash & equivalents of $162.0M as of 2026-06-30 [sec].
- Net income of -$36.2M for the quarter ended June 30, 2026 [sec].
- Shareholders' equity of $1,101.1M as of 2026-06-30 [sec].
- Phase 2 SKYLINE platform trial in ulcerative colitis is ongoing, with SPY003 topline induction data expected in September 2026 [sec · filed 2026-08-25].
- Raised approximately $435.2M in net proceeds from a public underwritten offering in April 2026 [sec_mda · as of 2026-08-04].
What works
- Spyre has a broad clinical pipeline including extended half-life antibodies against validated targets (α4β7, TL1A, IL-23) and is evaluating paradigm-changing fixed-dose combinations in a Phase 2 platform trial [sec_mda · as of 2026-08-04].
- The company has a strong cash position, with $162.0M in cash and equivalents as of 2026-06-30, supplemented by a $435.2M public offering in April 2026 [sec] [sec_mda · as of 2026-08-04].
- Multiple near-term clinical catalysts are expected, including SPY003 topline data in September 2026 and other readouts over the next 12-18 months [sec · filed 2026-08-25].
What to weigh
- Spyre has incurred significant operating losses since inception and anticipates losses to increase in absolute dollar terms as it advances clinical development and prepares for potential commercialization [sec_mda · as of 2026-08-04].
- The company will need to secure additional financing in the future to fund further R&D and before any commercial product can be marketed, as current resources are sufficient for at least one year but not beyond [sec_mda · as of 2026-05-05].
- The company's forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations [sec · filed 2026-04-13].
From the filings
Quoted directly from source documents.
SPY003 topline induction data expected in September 2026
“SPY003 topline induction data expected in September 2026”
SEC MD&A · August 25, 2026
Catalyst timeline
- 2024-06-06 · Phase 1 start for SPY001-001 — A Phase 1, randomized, double-blind, placebo-controlled, single and multiple ascending dose study of SPY001-001 in healthy participants.
- 2024-11-18 · Phase 1 start for SPY002-072 — A Phase 1, randomized, double-blind, placebo-controlled, single ascending dose study of SPY002-072 in healthy participants.
- 2024-11-26 · Phase 1 start for SPY002-091 — A Phase 1, randomized, double-blind, placebo-controlled, single ascending dose study of SPY002-091 in healthy participants.
- 2025-03-10 · Phase 1 start for SPY003 — A Phase 1, randomized, double-blind, placebo-controlled, single dose study of SPY003 in healthy participants.
Risks & what to watch (3)›
Key risks
- Operating losses expected to increase — The company has incurred significant operating losses and anticipates losses to increase in absolute dollar terms as it continues clinical development [sec_mda · as of 2026-08-04].
- Need for future financing — Current resources fund operations for at least one year; additional financing will be needed to support further R&D and commercialization [sec_mda · as of 2026-05-05].
- Forward-looking statement risks — Forward-looking statements involve risks and uncertainties that may cause actual results to differ from expectations [sec · filed 2026-04-13].
What to watch
- SPY003 topline induction data from SKYLINE Part A expected in September 2026 [sec · filed 2026-08-25].
- Additional topline readouts from the SKYLINE and SKYWAY trials over the next 12-18 months [sec · filed 2026-08-25].
- Company's ability to secure additional financing beyond current cash runway [sec_mda · as of 2026-05-05].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
D/E 0.07
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 47 sells (180d)
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
198
Total value held
$4.09B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 11,781,024 | $594.2M |
| blackrock, inc. | 5,521,221 | $278.5M |
| rtw investments, lp | 4,171,996 | $210.4M |
| fairmount funds management llc | 4,018,101 | $202.7M |
| perceptive advisors llc | 3,783,225 | $190.8M |
| venrock adviser, llc | 3,685,448 | $185.9M |
| vanguard capital management llc | 3,057,401 | $154.2M |
| driehaus capital management llc | 2,790,785 | $140.8M |
| state street corp | 2,607,031 | $131.5M |
| paradigm biocapital advisors lp | 1,957,266 | $98.7M |
Showing top 10 of 198 institutional holders of Spyre Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 14.3%
- Days to cover
- 12.6
- Shares short
- 10,435,737
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
SYRE short interestGovernance
Frequently asked questions
What is the AI investment thesis for Spyre Therapeutics, Inc.?
Spyre Therapeutics, Inc. (SYRE) is a clinical-stage biotechnology company developing next-generation antibody monotherapies and combinations for inflammatory bowel disease and other immune-mediated diseases, with a focus on extended half-life antibodies targeting α4β7, TL1A, and IL-23 [sec_mda · as of 2026-08-04].
Who is the CEO of Spyre Therapeutics, Inc.?
Dr. Cameron Turtle DPHIL, Ph.D. is the chief executive officer of Spyre Therapeutics, Inc. (SYRE).
Where is Spyre Therapeutics, Inc. headquartered?
Spyre Therapeutics, Inc. (SYRE) is headquartered in Waltham, MA, United States.
What therapeutic areas does Spyre Therapeutics, Inc. focus on?
Spyre Therapeutics, Inc. develops therapies across Immunology, Dermatology, Musculoskeletal.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.