Spyre had available cash, cash equivalents, and marketable securities of $414.2M at quarter end. “With the recent preclinical updates on SPY003, we have now delivered preclinical data supporting potent, half-life extended molecules across the Spyre portfolio. Our next-generation antibodies targeting alpha4beta7, TL1A, and IL-23 all have best-in-class potential as monotherapies and provide multiple chances to deliver paradigm-changing efficacy as combination therapies,” said CEO Cameron Turtle. “Our continued execution against our program milestones, at or ahead of schedule, puts Spyre on the cusp of a series of value-creating catalysts over the next few quarters, beginning with our expected SPY001 healthy volunteer interim data by the end of this year.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SYRE:
- Spyre Therapeutics price target raised to $65 from $50 at Guggenheim
- Spyre Therapeutics Advances SPY003 for IBD Treatment
- Spyre Therapeutics expects acceleration of SPY003 clinical timeline
- Spyre Therapeutics appoints Sloan as Chief Medical Officer
- Spyre Therapeutics files to sell 46.33M shares of common stock for holders