NASDAQ$SYRE
Spyre Therapeutics Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Spyre Therapeutics reported its financial results for the fourth quarter and full year 2024, highlighting positive interim Phase 1 data for SPY001 and a strengthened balance sheet.
Spyre Therapeutics reported no revenue for Q4 2024, with a net loss of $56.3 million. The company ended the quarter with $603.1 million in cash, cash equivalents, and marketable securities, extending its cash runway into the second half of 2028. Key developments included positive interim Phase 1 data for SPY001 and expansion of SPY002 into rheumatoid arthritis.
- Reported positive interim pharmacokinetic and safety data from the Phase 1 trial of SPY001 in November 2024.
- Strengthened the balance sheet with a $230 million public offering, extending cash runway into the second half of 2028.
- Announced indication expansion into rheumatoid arthritis with SPY002, with Phase 2 trial initiation expected in mid-2025.
- Remained on track for initiation of Phase 2 platform trial in ulcerative colitis in mid-2025 with SPY001, SPY002, and SPY003.
Headline financials
Revenue & EPS history
Spyre · Revenue · Quarterly
$0
Forward guidance
Spyre Therapeutics anticipates continued progress across its pipeline, with multiple clinical trial readouts and initiations planned, aiming to advance its best-in-class antibody therapies for IBD and other immune-mediated diseases.
Tailwinds
- Interim Phase 1 data readouts for SPY002 and SPY003 are on-track for the second quarter and second half of 2025, respectively.
- Initiation of Phase 2 platform trial in ulcerative colitis with SPY001, SPY002, and SPY003 is on track for mid-2025.
- Initial monotherapy results from Phase 2 trials are expected in 2026.
- Phase 2 trial initiation for SPY002 in rheumatoid arthritis is expected in mid-2025, with top-line results in 2026.
- Three Phase 1 readouts are expected in 2025 and four Phase 2 proof-of-concept readouts are expected in 2026.
Headwinds
- The SPY001 Phase 1 trial final data readouts may not be consistent with or different than the interim Phase 1 results.
- The sufficiency of the Company's funding to support the development of its assets, including expectations of cash runway, may be impacted by unforeseen circumstances.
- The Company operates in a very competitive and rapidly changing environment, which could affect its ability to achieve planned milestones.
- New risks may emerge that are currently unpredictable, potentially impacting actual results.
- The Company cannot guarantee that future results, levels of activity, performance, or events will be achieved as reflected in forward-looking statements.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.4%
Avg return
Earnings day
+1.3%
Avg return
5 days after
+2.3%
Avg return
30 days after
44%
17 / 39 earnings
Positive
+14.6%
Q4 2023
Best reaction
-10.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | +7.6% | +3.6% | |
| Q3 2025 | +0.5% | +4.6% | +49.4% | |
| Q1 2025 | -2.0% | -0.7% | +13.2% | |
| Q4 2024 | +7.2% | +6.0% | -2.3% | |
| Q3 2024 | +5.6% | -4.4% | -27.7% | |
| Q2 2024 | -3.0% | -6.6% | +7.4% | |
| Q1 2024 | +11.8% | +19.0% | +2.0% | |
| Q4 2023 | +14.6% | +44.3% | +45.3% | |
| Q3 2023 | -2.2% | +10.8% | +102.2% | |
| Q2 2023 | -10.3% | -12.0% | +6.7% | |
| Q1 2023 | -6.6% | -9.1% | -18.3% | |
| Q4 2022 | -0.3% | +2.0% | -26.6% | |
| Q3 2022 | -9.0% | +3.7% | -59.0% | |
| Q2 2022 | +7.7% | +5.9% | +33.3% | |
| Q1 2022 | -10.9% | -5.8% | -60.0% | |
| Q4 2021 | +0.4% | -14.6% | +14.2% | |
| Q3 2021 | -5.4% | -5.8% | -22.5% | |
| Q2 2021 | -0.6% | -3.3% | +12.1% | |
| Q1 2021 | +2.2% | +4.4% | -8.1% | |
| Q4 2020 | +1.7% | +9.7% | +5.3% | |
| Q3 2020 | +4.5% | +22.1% | +3.5% | |
| Q2 2020 | -6.7% | -4.7% | +3.2% | |
| Q1 2020 | +10.6% | -4.5% | +24.0% | |
| Q4 2019 | -8.3% | -13.2% | -40.2% | |
| Q3 2019 | -4.3% | -2.2% | -4.1% | |
| Q2 2019 | -4.1% | -3.8% | -0.5% | |
| Q1 2019 | -1.9% | -2.1% | -8.7% | |
| Q4 2018 | -0.7% | +3.1% | +8.8% | |
| Q3 2018 | +0.2% | -13.0% | -13.3% | |
| Q2 2018 | +4.8% | +1.2% | -3.4% | |
| Q1 2018 | +3.5% | +0.6% | +4.0% | |
| Q4 2017 | -1.4% | +23.7% | +20.5% | |
| Q3 2017 | -4.9% | +4.5% | +0.0% | |
| Q2 2017 | -6.3% | -7.2% | +34.8% | |
| Q1 2017 | -2.2% | -2.0% | -43.4% | |
| Q4 2016 | -4.4% | -6.9% | -8.7% | |
| Q3 2016 | -1.2% | +1.3% | -7.5% | |
| Q2 2016 | +1.1% | -1.9% | +48.2% | |
| Q1 2016 | +0.7% | — | — |
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