Company Overview - Spyre Therapeutics anticipates 9 proof-of-concept readouts in 2026-27 for IBD and beyond[6, 113] - The company had $565 million in cash as of March 31, 2025, with an expected runway into the second half of 2028[8] - Spyre's next-generation antibodies are engineered to match or exceed the potency of first-generation molecules[13] Clinical Trials and Programs - SKYLINE-UC Phase 2 platform study is evaluating SPY001, SPY002, SPY003 and pairwise combinations in ulcerative colitis[35, 68] - SKYWAY-RD Phase 2 basket trial is evaluating SPY072 in rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis, with initiation anticipated in Q3 2025[37, 38] - The company is transitioning to a mid-stage development company with two innovative Phase 2 clinical trials[35] Pipeline and Target Profiles - SPY001, SPY002, and SPY003 are being developed with a target profile of 2-4 chronic doses per year[26] - Spyre is developing potential paradigm-changing combination therapies in IBD, such as SPY120 (α4β7+TL1A), SPY130 (α4β7+IL-23), and SPY230 (TL1A+IL-23)[28, 29] - SPY072 is a potential first-in-class anti-TL1A for rheumatologic conditions, targeting Q3M-Q6M dosing[12, 34] Market and Unmet Needs - Approximately 24 million individuals in the U S are diagnosed with IBD (~1 3M UC and ~1 0M CD)[44] - Over 3 million individuals in the U S are diagnosed with RA (>1 5M), PsA (~1M), and axSpA (~1M)[80]
Spyre Therapeutics (SYRE) Earnings Call Presentation