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Sep 30, 2023
Spyre Q3 2023 Earnings Report
Aeglea BioTherapeutics reported third quarter 2023 financial results and provided a corporate update.
Key Takeaways
Aeglea BioTherapeutics reported a net loss of $40.1 million for the third quarter of 2023, with R&D expenses totaling $24.7 million and G&A expenses totaling $8.6 million. The company's cash and cash equivalents, marketable securities, and restricted cash totaled $204.9 million as of September 30, 2023.
SPY001 is on track for an expected IND filing in the first half of 2024.
SPY002 is on track for expected IND filing in the second half of 2024.
Stockholder vote scheduled for November 21 to allow conversion of preferred stock to common stock.
Strengthened leadership team with the appointments of Scott Burrows as Chief Financial Officer and Heidy King-Jones as Chief Legal Officer and Corporate Secretary.
Forward Guidance
Aeglea is advancing a pipeline of antibody therapeutics with the potential to transform the treatment of IBD. Aeglea’s approach combines novel antibody engineering, rational therapeutic combinations, and precision immunology with the goal of maximizing efficacy, safety, and convenience of treatments for IBD. The company is developing antibodies targeting α4β7, TL1A, and IL-23.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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