Spyre Reports $62.5M Q4 Loss, $757M Cash and Six 2026 Readouts
Spyre Therapeutics reported a $62.5 million fourth-quarter net loss, equating to a $0.70 per-share loss versus analysts’ $0.66 estimate. The company holds $757 million in cash and securities, funding operations into late 2028, and anticipates six proof-of-concept Phase 2 readouts across its SKYLINE and SKYWAY trials in 2026.
1. Q4 Financial Results
Spyre Therapeutics posted a fourth-quarter net loss of $62.5 million, or $0.70 per share, compared with analysts’ average forecast of a $0.66 per-share loss, driven by elevated research and development expenses.
2. Pipeline Updates
The company expects six proof-of-concept readouts in 2026 from its SKYLINE ulcerative colitis and SKYWAY basket trials, with Part A SKYLINE data slated for the second quarter and rheumatoid arthritis, psoriatic arthritis and axial spondyloarthritis sub-study results in the fourth quarter.
3. Balance Sheet Strength
Spyre ended 2025 with $757 million in cash, cash equivalents and marketable securities, bolstered by an October 2025 underwritten public offering, providing funding into the second half of 2028.
4. Management Update
In early 2026, Spyre appointed Kate Tansey Chevlen as Chief Commercial Officer to spearhead commercialization planning for its late-stage pipeline programs.