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Spyre Therapeutics, Inc., a clinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD) and rheumatic diseases. The company develops SPY001, a humanized monoclonal immunoglobulin G1 antibody that is in phase-2 clinical stage designed to bind selectively to the a4Γ7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease); and SPY002 and SPY072 Β anti-TL1A mAbs designed to bind to tumor necrosis factor-like ligand 1A (TL1A). It is also developing SPY003, a clinical-stage program, which is in phase-2 clinical stage designed to bind to interleukin 23 (IL-23); SPY120, a combination of anti-a4Γ7 and anti-TL1A mAbs; SPY130, a combination anti-a4Γ7 and anti-IL-23 mAbs; and SPY230, a combination anti-TL1A and anti-IL-23 mAbs. The company was formerly known as Aeglea BioTherapeutics, Inc. and changed its name to Spyre Therapeutics, Inc. in November 2023. The company was incorporated in 2013 and is based in Waltham, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-220M | $-155M | $-169M | -27.7% | - | -25.4% |
| 2024 | $0M | $-209M | $-208M | $-157M | -57.5% | -100.0% | -38.6% |
| 2023 | $1M | $-128M | $-339M | $-100M | 37188.8% | -62.0% | 304.2% |
| 2022 | $2M | $-83M | $-84M | $-80M | -166.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2.33 | 0.89 | 0 | 0 |
| Operating Revenue | - | 2.33 | 0.89 | 0 | 0 |
| Operating Expense | - | 87.11 | 129.45 | 208.57 | 219.56 |
| Research And Development | - | 58.58 | 89.50 | 162.79 | 171.65 |
| Selling General And Administration | - | 28.53 | 39.95 | 45.78 | 47.91 |
| Total Expenses | - | 87.11 | 129.45 | 208.57 | 219.56 |
| Operating Income | - | -84.78 | -128.56 | -208.57 | -219.56 |
| Total Operating Income As Reported | - | -84.78 | -242.30 | -208.57 | -209.56 |
| EBITDA | - | -82.82 | -127.82 | -208.57 | -219.56 |
| Normalized EBITDA | - | -82.82 | 69.45 | -208.57 | -229.56 |
| EBIT | - | -84.78 | -128.56 | -208.57 | -219.56 |
| Interest Income | - | 0.84 | 6.15 | 21.31 | 24.88 |
| Net Interest Income | - | 0.84 | 6.15 | 21.31 | 24.88 |
| Other Non Operating Income Expenses | - | -0.01 | -19.13 | -20.71 | 29.46 |
| Other Income Expense | - | -0.01 | -216.40 | -20.71 | 39.46 |
| Interest Income Non Operating | - | 0.84 | 6.15 | 21.31 | 24.88 |
| Net Non Operating Interest Income Expense | - | 0.84 | 6.15 | 21.31 | 24.88 |
| Pretax Income | - | -83.95 | -338.82 | -207.97 | -155.22 |
| Tax Provision | - | -0.14 | -0.03 | 0.05 | -0.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -0.02 | 0 | 0 |
| Net Income Continuous Operations | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Net Income From Continuing And Discontinued Operation | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Net Income From Continuing Operation Net Minority Interest | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Net Income | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Net Income Common Stockholders | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Net Income Including Noncontrolling Interests | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Normalized Income | - | -83.82 | -141.54 | -208.02 | -165.20 |
| Diluted NI Availto Com Stockholders | - | -83.82 | -338.79 | -208.02 | -155.20 |
| Basic Average Shares | - | 3.37 | 6.90 | 47.03 | 64.06 |
| Diluted Average Shares | - | 3.37 | 6.90 | 47.03 | 64.06 |
| Reconciled Depreciation | - | 1.96 | 0.74 | 0 | 0 |
| Total Unusual Items | - | 0 | -197.27 | 0 | 10 |
| Total Unusual Items Excluding Goodwill | - | 0 | -197.27 | 0 | 10 |
| Preferred Stock Dividends | - | - | 243.91 | 58.46 | - |
| Special Income Charges | - | 0 | -113.74 | 0 | 10 |
| Other Special Charges | - | - | 130.19 | - | - |
| Gain On Sale Of Security | - | - | -83.53 | - | - |
| General And Administrative Expense | - | 28.53 | 39.95 | 45.78 | 47.91 |
| Other Gand A | - | 28.53 | 39.95 | 45.78 | 47.91 |
| Gain On Sale Of Ppe | - | 0 | 16.45 | 0 | 10 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Spyre Therapeutics, Inc.this co. | SYRE | $6.8B | - | 9.53 | -21.7% | - |
| HealthEquity, Inc. | HQY | $7.2B | 33.42 | 3.41 | 10.2% | 16.10 |
| Oscar Health, Inc. | OSCR | $7.1B | -16.06 | 7.28 | -45.3% | - |
| Vaxcyte, Inc. | PCVX | $7.0B | -9.18 | 2.62 | -28.5% | -7.77 |
| Apogee Therapeutics, Inc. | APGE | $6.9B | -26.79 |
| - |
| - |
| - |
| - |
| - |
| - |
| 7.58 |
| -28.3% |
| -23.68 |
| Arcellx, Inc. | ACLX | $6.7B | -29.41 | 16.73 | -56.9% | -30.17 |
| Immunovant, Inc. | IMVT | $6.7B | -13.27 | 7.87 | -59.3% | -10.90 |
| Lantheus Holdings, Inc. | LNTH | $6.7B | 28.66 | 6.14 | 21.4% | 17.23 |
| Hims & Hers Health, Inc. | HIMS | $6.5B | 50.51 | 11.99 | 23.7% | 46.06 |
| Peer Median | - | -11.23 | 7.43 | -28.4% | -7.77 | |