Spyre Therapeutics
Develops extended-half-life antibody combinations for bowel, rheumatic, and dermatologic diseases.
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Profile
Develops extended-half-life antibody monotherapies and combinations for inflammatory bowel disease, rheumatic diseases, and hidradenitis suppurativa. With no marketed products or product-sales revenue, the business depends on advancing licensed programs through trials and regulatory review.
Develops extended-half-life monoclonal antibodies and combinations for immune-mediated diseases, with programs spanning gastroenterology, rheumatology, and dermatology. SKYLINE evaluates SPY001, SPY002, SPY003, and pairwise combinations SPY120, SPY130, and SPY230 in ulcerative colitis.
SKYWAY tests SPY072 across rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis. The newer SPY772 program pairs SPY072 with preclinical SPY007 for hidradenitis suppurativa. Candidates are engineered for longer exposure, concentrated formulations, and infrequent subcutaneous maintenance dosing.
Operates from Waltham while running trials in the United States and Europe. No product is approved or sold; development depends on clinical execution, regulatory review, licensed rights from Paragon Therapeutics, and outsourced manufacturing.
Company facts
Key statistics
Year to date +195% · Average volume (30d) 921.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Guggenheim | Reiterate | Buy | $130 | ||
| Aug 26, 2026 | Wedbush | Target | $130 | $123 | ||
| Aug 26, 2026 | BTIG | Target | $112 | $121 | ||
| Aug 26, 2026 | Deutsche Bank | Target | $135 | $127 | ||
| Aug 5, 2026 | Wedbush | Reiterate | Outperform | $100 | $130 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | −$0.76 | −$0.36 | +52.6% | — | — | — | −0.56% |
| May 5, 2026Q1 FY26 | −$0.66 | −$0.74 | −12.1% | — | — | — | +2.80% |
| Feb 19, 2026Q4 FY25 | −$0.66 | −$0.70 | −6.1% | $142.9M | $90.5M | −36.7% | +14.28% |
| Nov 4, 2025Q3 FY25 | −$0.68 | −$0.15 | +77.9% | — | — | — | −0.57% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $90.5M | $0 | $0 | |
| Gross profit | $0 | $0 | −$45.2M | $45.2M | $0 | $0 | |
| Operating income | −$53.6M | −$41.9M | −$56.9M | −$57.2M | −$45.6M | −$41.6M | |
| Net income | −$44.8M | −$36.7M | −$11.2M | −$62.5M | −$69.0M | −$36.2M | |
| Diluted EPS | −$0.13 | −$0.60 | −$0.15 | −$0.70 | −$0.74 | −$0.36 | |
| Gross margin | — | — | — | 50.0% | — | — | |
| Operating margin | — | — | — | -63.2% | — | — |
Fiscal years (4-quarter sums)FY21 $18.7M · FY22 $2.3M · FY23 $886.0K · FY24 $0 · FY25 $90.5M
Balance sheet, Jun 30, 2026Cash & short-term investments $1.15B · Total debt $0 · Total assets $1.17B · Shareholders' equity $1.10B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 86.84M · Float 77.45M · 89.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FMR LLC | 13.03M | 15.00% | 13F | Aug 13, 2026 |
| Tomas Kiselak | 9.67M | 9.99% | 13D | Jun 23, 2026 |
| BlackRock, Inc. | 6.51M | 7.49% | 13F | Aug 7, 2026 |
| Perceptive Advisors LLC | 4.32M | 4.97% | 13F | Aug 14, 2026 |
| RTW Investments, LP | 4.25M | 4.90% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Jeffrey W. Albers | director | −23,000 | $104.53 |
| Aug 3, 2026 | Cameron Turtle | director, officer: Chief Executive Officer | −15,000 | $95.51 |
| Aug 3, 2026 | Scott L. Burrows | officer: Chief Financial Officer | −7,500 | $95.57 |
| Jul 1, 2026 | Cameron Turtle | director, officer: Chief Executive Officer | −15,000 | $87.69 |
| Jul 1, 2026 | Sheldon Sloan | officer: Chief Medical Officer | −8,334 | $87.70 |
Peers
- AbbVie
Broad immunology incumbent across IBD and rheumatology
- Johnson & Johnson
Broad immunology incumbent across IL-23, TNF, and IBD biologics
- Takeda (ADR)
Alpha4beta7 IBD incumbent via Entyvio
- Eli Lilly
IL-23 IBD, anti-integrin IBD, and PsA/axSpA overlap
- Merck
Direct TL1A pipeline overlap in IBD and rheumatology
- Pfizer
Oral UC alternatives plus p40/TL1A pipeline overlap
- Sanofi (ADR)
Direct TL1A IBD peer plus RA biologic overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Spyre Therapeutics | $90.05 | −0.34% | $7.85B | — | — | 86.7 | — |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Takeda (ADR) | $18.49 | +2.53% | $57.37B | 51.0 | 53.7 | 2.0 | +5.8% |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Median | 51.0 | 19.8 | 5.5 | +6.6% |