Spyre Therapeutics, Inc.
Business
Spyre Therapeutics is a clinical-stage biopharmaceutical company developing monoclonal antibody therapeutics for inflammatory bowel disease and immune-mediated diseases. The company's product candidates include SPY001 (α4β7 integrin program), SPY002 (TL1A program), and SPY003 (IL-23 program), all engineered with half-life extension modifications to enable less frequent subcutaneous dosing. Spyre operates a pipeline-focused model with exclusive licenses to intellectual property from Paragon Therapeutics, targeting ulcerative colitis, Crohn's disease, and related conditions.
Summary from 10-K filed 2026-02-19
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenue | 0 | 0 | 886,000 | 2 | 19 | |
| Research and development | 172 | 163 | 90 | 59 | 57 | |
| General and administrative | 48 | 46 | 40 | 29 | 27 | |
| Acquired in-process research and development | 0 | 0 | 130 | 0 | 0 | |
| Gain on sale of in-process research and development asset | −10 | 0 | −16 | 0 | 0 | |
| Total operating expenses | 210 | 209 | 243 | 87 | 84 | |
| Loss from operations | −210 | −209 | −242 | −85 | −66 | |
| Interest income | 25 | 21 | 6 | 837,000 | 111,000 | |
| Other income (expense), net | 29 | −21 | −19 | −7,000 | −122,000 | |
| Total other income (expense) | 54 | 599,000 | −97 | 830,000 | −11,000 | |
| Loss before income tax expense | −155 | −208 | −339 | −84 | −66 | |
| Income tax benefit (expense) | 15,000 | −51,000 | 26,000 | 136,000 | −141,000 | |
| Net loss | −155 | −208 | −339 | −84 | −66 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 86 | 89 | 189 | 35 | 15 | |
| Marketable securities | 671 | 514 | 150 | 21 | 78 | |
| Prepaid expenses and other current assets | 21 | 5 | 2 | 6 | 5 | |
| Total current assets | 778 | 608 | 342 | 62 | 99 | |
| Other non-current assets | 0 | 10,000 | 9,000 | 683,000 | 842,000 | |
| TOTAL ASSETS | 778 | 608 | 342 | 71 | 110 | |
| CVR liability | 23 | 25 | 1 | 0 | — | |
| Accrued and other current liabilities | 27 | 28 | 13 | 13 | 14 | |
| Total current liabilities | 59 | 54 | 32 | 15 | 20 | |
| Non-current CVR liability | 4 | 37 | 41 | 0 | — | |
| TOTAL LIABILITIES | 63 | 91 | 73 | 21 | 26 | |
| Commitments and Contingencies (Note 8, Note 9) | — | — | — | — | — | |
| Common stock, $0.0001 par value; 400,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 78,189,811 shares and 60,257,023 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively. | 15,000 | 13,000 | 10,000 | 6,000 | 5,000 | |
| Additional paid-in capital | 1,686 | 1,334 | 763 | 476 | 426 | |
| Accumulated other comprehensive income | 869,000 | 180,000 | 302,000 | −48,000 | −20,000 | |
| Accumulated deficit | −1,100 | −972 | −764 | −426 | −342 | |
| TOTAL CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY | 715 | 518 | 184 | 50 | 84 | |
| TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY | 778 | 608 | 342 | 71 | 110 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 0 | 0 | 744,000 | 2 | 2 | |
| Stock-based compensation | 38 | 45 | 26 | 7 | 8 | |
| Lease ROU asset and leasehold improvement impairment loss | 0 | 0 | 3 | 0 | 0 | |
| Loss on disposal of long-lived assets | 0 | 0 | 915,000 | 0 | 0 | |
| Net (accretion of discount) amortization of premium on marketable securities | −8 | −11 | −2 | −327,000 | 548,000 | |
| Interest proceeds from maturities of zero coupon debt securities | 2 | 1 | 0 | 0 | — | |
| Amortization of operating lease assets | 0 | 0 | 220,000 | 397,000 | 425,000 | |
| Other | 0 | 0 | 15,000 | 426,000 | −335,000 | |
| Prepaid expenses and other assets | −13 | −3 | 3 | −1 | −1 | |
| Accounts payable | 8 | −230,000 | 218,000 | −3 | 1 | |
| Deferred revenue | 0 | 0 | 575,000 | −880,000 | 4 | |
| Development receivables | 0 | 0 | 375,000 | 440,000 | −815,000 | |
| Operating lease liabilities | 0 | 0 | −2 | −435,000 | −404,000 | |
| Accrued and other liabilities | −764,000 | 15 | −5 | −843,000 | −373,000 | |
| Related party accounts payable | −589,000 | −16 | −2 | 0 | 0 | |
| Net cash used in operating activities | −169 | −157 | −100 | −80 | −54 | |
| Cash assumed from asset acquisition of Spyre | 0 | 0 | 3 | 0 | 0 | |
| Proceeds from sale of in-process research & development asset | 7 | 0 | 15 | 0 | 0 | |
| Proceeds from the sale of property plant and equipment | 0 | 0 | 475,000 | 0 | 0 | |
| Purchases of marketable securities | −522 | −599 | −167 | −40 | −133 | |
| Proceeds from maturities and sales of marketable securities | 372 | 246 | 40 | 97 | 111 | |
| Net cash (used in) provided by investing activities | −143 | −353 | −108 | 57 | −23 | |
| Proceeds from issuance of common stock in connection with at-the-market offering program, net of issuance costs | 15 | 21 | 0 | 0 | — | |
| Proceeds from issuance of common stock in connection with follow-on offering, net of issuance costs | 296 | 216 | 0 | 0 | — | |
| Payment of deferred offering costs in connection with shelf registration | −162,000 | −407,000 | 0 | 0 | — | |
| Payment of contingent value rights liability | −5 | −1 | −6 | — | — | |
| Proceeds from employee stock option exercises and employee stock plan purchases | 3 | 8 | 405,000 | 222,000 | 2 | |
| Other financing cash flows | 0 | 1,000 | −16,000 | — | — | |
| Net cash provided by financing activities | 309 | 411 | 361 | 43 | 1 | |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | 0 | −3,000 | 25,000 | −106,000 | −15,000 | |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | −4 | −100 | 153 | 19 | −75 | |
| Allocation of deferred offering costs against proceeds of issuance of common stock | 107,000 | 204,000 | 0 | 0 | — | |
| Settlement of forward contract liability and issuance of Series A non-voting convertible preferred stock in connection with the asset acquisition of Spyre | 0 | 0 | 190 | 0 | 0 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Spyre Therapeutics, Inc.'s CIK number?
Spyre Therapeutics, Inc.'s SEC CIK number is 0001636282 (1636282). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Spyre Therapeutics, Inc.'s SEC filings?
All of Spyre Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Spyre Therapeutics, Inc. last report earnings?
Spyre Therapeutics, Inc. (SYRE) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001636282-26-000051). This is Spyre Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Spyre Therapeutics, Inc.'s most recent earnings 8-K?
Spyre Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001636282-26-000051. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Spyre Therapeutics, Inc.'s latest earnings 8-K →
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