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Mar 31, 2024
Spyre Q1 2024 Earnings Report
Spyre Therapeutics reported first quarter 2024 financial results and provided a corporate update.
Key Takeaways
Spyre Therapeutics reported a net loss of $43.9 million for the first quarter of 2024. The company's cash position was $485.0 million as of March 31, 2024, providing a cash runway well into 2027. SPY001 is on track to begin first-in-human studies in the second quarter of 2024 and SPY002 remains on track to begin first-in-human studies in the second half of 2024.
SPY001 completed a 28-day GLP toxicity study and is on track for first-in-human studies in Q2 2024.
SPY002 is on track to begin first-in-human studies in the second half of 2024.
Spyre raised $180 million in a March 2024 private placement.
Cash, cash equivalents, marketable securities, and restricted cash totaled $485 million as of March 31, 2024, with runway into 2027.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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