Spyre Therapeutics Reports Third Quarter 2026 Financial Results and Provides Corporate Update
Key Highlights
- ➤SPY003 posted positive topline induction data, completing proof-of-concept for all three IBD monotherapies
- ➤SKYLINE Part B enrollment is ahead of schedule, with topline combination data expected Q3 2027
- ➤SPY072 RA benefit was insufficient to prioritize advancement despite positive topline results
- ➤SPY072 failed primary endpoints in PsA and axSpA and will exit rheumatic diseases
- ➤Spyre raised over $400 million, with $1.5 billion pro forma cash and runway into H2 2029
Expert Statements
Cameron Turtle, DPhil, Chief Executive Officer of Spyre Therapeutics
“We are increasingly well-positioned to deliver on our ambition of elevating the standard of care across immunology. In IBD, our three compelling Phase 2 monotherapy readouts and a growing body of supportive clinical evidence strengthen our conviction that our combination products have the potential to transform the treatment paradigm. The combination portion of our SKYLINE trial is enrolling faster than expected enabling an increased enrollment target, and we plan to deliver topline data in Q3 2027 with the potential for efficacy, safety, and convenience that meaningfully surpasses today's standard of care”
Cameron Turtle, DPhil, Chief Executive Officer of Spyre Therapeutics
“Beyond IBD, we were thrilled to see excellent external proof-of-concept data for TL1A in hidradenitis suppurativa, supporting the expansion of our pipeline to include a pivotal monotherapy program as well as a combination study with the current standard of care, IL17-A/F. Collectively, we believe the breadth of our pipeline, strength of our clinical data, and continued execution position Spyre to potentially deliver meaningful advances for patients across multiple large markets and substantial long-term value for shareholders.”
Announced positive topline induction data for SPY003 from Part A of the Phase 2 SKYLINE trial (“SKYLINE”), completing proof-of-concept for all three monotherapies in inflammatory bowel disease (“IBD”). SKYLINE Part B is enrolling ahead of schedule, enabling the Company to increase enrollment and provide topline induction results for three potential best-in-indication combinations, which are expected in Q3 2027
Reported positive topline results for SPY072 in rheumatoid arthritis (“RA”) sub-study of the Phase 2 SKYWAY basket trial (“SKYWAY”), though with a magnitude of benefit insufficient to prioritize advancement. SPY072 was well-tolerated but did not meet its primary endpoint in the psoriatic arthritis (“PsA”) or axial spondyloarthritis (“axSpA”) SKYWAY sub-studies. SPY072 will not be advanced in rheumatic disease
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