SYRE Stock — Spyre Therapeutics Inc.: Cash, EV, Pipeline

Share price

$90.25

Market cap

$7,957.7M

Cash

$1,145.3M

Enterprise value

$6,812.4M

Balance sheet

Cash	$1,145.3M
Debt	$0.0M
Net cash	$1,145.3M
Enterprise value	$6,812.4M
Basic shares	88.1M shares
Fully diluted shares	109.7M shares
Fully diluted market cap	$9,904.1M
Cash per share	$13.00

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 30, 2026 - Feb 10, 2027	SPY003-207	Phase 1	Healthy	—
Jul 13 - Aug 24	SPY001	Phase 2	Ulcerative Colitis; Inflammatory Bowel Diseases; Colitis	—
Nov 12 - Dec 24	SPY072	Phase 2	Hidradenitis Suppurativa (HS)	—
Apr 13 - May 25	SPY001	Phase 2	Ulcerative Colitis; Inflammatory Bowel Diseases; Colitis	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

SPY001

Phase 1 · Active Modality: monoclonal antibody (extended half-life)

Target α4β7 integrin

Partnerships Worldwide exclusive royalty-bearing license from Paragon Therapeutics (May 2024; α4β7 integrin antibodies). Milestone payments to Paragon up to $22M per first product per agreement ($5M on first Phase 3 dosing).

Indications

Inflammatory bowel disease (ulcerative colitis, Crohn's disease) (Phase 1)

Catalysts

— 2026-2027

Status note Anti-α4β7 integrin antibody for IBD being developed in the ongoing SKYWAY Phase 2 basket trial and SKYLINE Phase 2 platform trial (with rational combinations). Planned Q3M-Q6M dosing profile.

SPY002

Phase 1 · Active Modality: monoclonal antibody (extended half-life)

Target TL1A

Partnerships Worldwide exclusive royalty-bearing license from Paragon Therapeutics (May 2024; TL1A antibodies; sublicensing fees up to ~$20M on mostly commercial milestones).

Indications

Inflammatory bowel disease (ulcerative colitis, Crohn's disease) (Phase 1)

Catalysts

— 2026-2027

Status note Anti-TL1A antibody for IBD; plans to expand development to indications beyond IBD and RD. SKYWAY/SKYLINE Phase 2 trials ongoing. Planned Q3M-Q6M dosing profile.

SPY072

Phase 1 · Active Modality: monoclonal antibody (extended half-life)

Target TL1A

Partnerships Worldwide exclusive royalty-bearing license from Paragon Therapeutics (May 2024; TL1A antibodies).

Indications

Rheumatic diseases (RA, PsA, axSpA) (Phase 1)

Catalysts

— 2026-2027

Status note Anti-TL1A antibody for rheumatic diseases. SKYWAY/SKYLINE Phase 2 trials ongoing. Planned Q3M-Q6M dosing profile.

SPY003

Phase 1 · Active Modality: monoclonal antibody (extended half-life)

Target IL-23

Partnerships Worldwide exclusive royalty-bearing license from Paragon Therapeutics (Oct 2024, amended May 2026; IL-23 antibodies; field expanded to all therapeutic/prophylactic/palliative/diagnostic uses; restrictions on dosing outside IBD until Jun 2028/2030).

Indications

Inflammatory bowel disease (Phase 1)

Catalysts

— 2026-2027

Status note Anti-IL-23 antibody for IBD; field expanded May 2026 to all uses (with restrictions on non-IBD clinical dosing until Jun 2028 for combinations / Jun 2030 for monotherapy). SKYWAY/SKYLINE Phase 2 trials ongoing. Planned Q3M-Q6M dosing profile.

Per-asset detail extracted from the 10-Q filed 2026-08-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	SPY002-072
Lead indication	Rheumatoid Arthritis
Lead phase	Phase 2
Active trials	5

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07148414	Phase 2	Active, not recruiting	Sponsor	SYRE	—	Rheumatoid Arthritis; Psoriatic Arthritis; Axial Spondyloarthritis	—
NCT07012395	Phase 2	Recruiting	Sponsor	SYRE	—	Ulcerative Colitis; Inflammatory Bowel Diseases; Colitis	—
NCT07766005	Phase 2	Not yet recruiting	Sponsor	SYRE	—	Hidradenitis Suppurativa (HS)	—
NCT07652294	Phase 2	Enrolling by invitation	Sponsor	SYRE	—	Ulcerative Colitis; Inflammatory Bowel Diseases; Colitis	—
NCT06873724	Phase 1	Active, not recruiting	Sponsor	SYRE	—	Healthy	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 5 active trials for Spyre Therapeutics, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
RTW Investments	4,251,996	+80,000	3.22%	2026-08-14
Braidwell LP	879,467	-53,356	2.89%	2026-08-14
ADAR1 Capital Management	283,982	-54,341	1.19%	2026-08-14
OrbiMed Advisors	186,145	+186,145	0.31%	2026-08-14
Baker Bros. Advisors	0	-1,000,000	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

SYRE — Spyre Therapeutics Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders