Spyre Therapeutics Q3 net loss widens to $96.1 million as R&D spending rises
Spyre Therapeutics reported a third-quarter 2026 net loss of $96.1 million, up from $11.2 million a year earlier, as research and development expenses nearly doubled. The company also reported mixed trial results, with positive induction data for SPY003 in IBD but no plan to advance SPY072 in rheumatic diseases, and said its pro forma cash runway extends into the second half of 2029.
Key points
- Net loss was $96.1 million for Q3 2026 versus $11.2 million for Q3 2025; net loss per common share was $(0.94) versus $(0.15).
- R&D expenses rose to $89.2 million from $45.2 million, driven mainly by higher manufacturing costs and clinical trial expenses.
- Prior-year other income included changes in the fair value of the CVR liability; Q3 2026 total other income was $9.6 million versus $45.7 million.
- Pro forma cash, cash equivalents and marketable securities were $1,467.9 million as of September 30, 2026, including $378.0 million in net proceeds from an October 2026 public offering.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.