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WALTHAM, Mass. - Spyre Therapeutics (NASDAQ:SYRE), a clinical-stage biotech company currently valued at $1.04 billion, announced positive interim Phase 1 results for its investigational extended half-life monoclonal antibodies SPY002 and SPY072, which target TL1A for immune-mediated diseases. According to InvestingPro data, analysts have set price targets ranging from $21 to $71, suggesting significant potential upside from current levels.
According to the company’s press release statement, both antibodies were well-tolerated with no serious adverse events reported in single doses up to 1500 mg. The compounds demonstrated a half-life of approximately 75 days, which the company claims is more than three times longer than first-generation anti-TL1A antibodies. The company maintains a strong financial position, with InvestingPro analysis showing a healthy current ratio of 8.06 and liquid assets exceeding short-term obligations.
The interim results showed both antibodies suppressed free TL1A through 20 weeks of follow-up at the lowest dose tested. The pharmacokinetic profile potentially supports quarterly or less frequent dosing.
Spyre also announced the initiation of its SKYLINE-UC platform trial in May 2025, which will evaluate three monotherapies and three combinations for ulcerative colitis. Additionally, the company plans to launch the SKYWAY-RD basket study in the third quarter of 2025 to evaluate SPY072 in rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis.
The company expects to report open-label monotherapy data for its three investigational antibodies from the SKYLINE-UC trial in 2026, along with placebo-controlled results for SPY072 from the SKYWAY-RD trial. In 2027, Spyre anticipates reporting placebo-controlled data for both monotherapies and combination therapies from the SKYLINE-UC study.
Spyre’s Chief Executive Officer Cameron Turtle stated the company has cash runway into the second half of 2028 and plans to deliver nine proof-of-concept readouts over the next two years. While the company is not currently profitable, with a loss per share of $3.01 in the last twelve months, six analysts have recently revised their earnings expectations upward, according to InvestingPro, which offers additional insights and analysis through its comprehensive suite of investment tools.
The company’s pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23 for inflammatory bowel disease and other immune-mediated conditions.
In other recent news, Spyre Therapeutics has been the focus of several analyst updates and developments. Leerink Partners reiterated an Outperform rating for Spyre, with a price target of $45, highlighting the upcoming Phase 1 data for its anti-TL1A program, SPY002, as a significant milestone in treating inflammatory bowel disease (IBD). Guggenheim analysts also maintained a Buy rating, with a $65 price target, noting Spyre’s progress in developing combination therapies that might set new standards of care in IBD treatment. BTIG analyst Julian Harrison reaffirmed a Buy rating with a $70 target, following the commencement of a Phase 1 clinical trial for SPY003, which could offer an extended dosing interval compared to current treatments. Wolfe Research initiated coverage with an Outperform rating, citing Spyre’s strategic advantage in owning key therapeutic molecules for ulcerative colitis and Crohn’s disease. The firm emphasized the potential of high-efficacy combination treatments to become the standard first-line therapy. These recent developments underscore Spyre’s ongoing efforts and strategic positioning in the competitive landscape of IBD therapies.
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