Spyre Therapeutics Q3 net loss widens more than expected on higher trial costs
SYRE•Spyre Therapeutics reported a third-quarter net loss of $96.12 million, wider than analysts’ $78.56 million estimate, as research and clinical trial costs rose. It ended the quarter with $1.5 billion in cash after a $400 million public offering and expects its cash runway to extend into the second half of 2029.
1. Quarterly results
Spyre Therapeutics’ third-quarter operating loss was $105.72 million, compared with analysts’ estimate of $87.27 million. The company said higher research and development expenses and clinical trial costs drove increased operating expenses; higher headcount and professional services fees also lifted general and administrative expenses.
2. Pipeline and cash
Spyre expects topline induction results for SKYLINE Part B in the third quarter of 2027 and plans to advance anti-TL1A monotherapy into pivotal HS studies in 2027. It ended the quarter with $1.5 billion in cash after a $400 million public offering and expects its cash runway to extend into the second half of 2029.
