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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 | $0M | $-169M | 0.0% | - | - |
| 2024 | $0M | $-209M | $-208M | $-157M | -40.2% | -100.0% | - |
| 2023 | $1M | $-128M | $-339M | $-100M | -184.1% | -62.0% | - |
| 2022 | $2M | $-83M | $-84M | $-80M | -166.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2.33 | 0.89 | 0 | 0 |
| Operating Expense | 87.11 | 129.45 | 208.57 | 219.56 |
| Operating Income | -84.78 | -128.56 | -208.57 | -219.56 |
| EBITDA | -82.82 | -127.82 | -208.57 | -219.56 |
| EBIT | -84.78 | -128.56 | -208.57 | -219.56 |
| Pretax Income | -83.95 | -338.82 | -207.97 | -155.22 |
| Tax Provision | -0.14 | -0.03 | 0.05 | -0.01 |
| Net Income | -83.81 | -338.79 | -208.02 | 0 |
| Net Income Common Stockholders | -83.81 | -338.79 | -208.02 | -155.20 |
| Total Expenses | 87.11 | 129.45 | 208.57 | 219.56 |
| Interest Income | 0.84 | 6.15 | 21.31 | 24.89 |
| Research And Development | 58.58 | 89.50 | 162.79 | 171.65 |
| Selling General And Administration | 28.53 | 39.95 | 45.78 | 47.91 |
| Normalized EBITDA | -82.82 | 69.45 | -208.57 | -229.56 |
| Normalized Income | -83.81 | -141.54 | -208.02 | -165.20 |
| Basic EPS | -24.75 | -13.76 | -3.18 | -1.98 |
| Diluted EPS | -24.75 | -13.76 | -3.18 | -1.98 |
| Tax Effect Of Unusual Items | 0 | -0.02 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0 |
| Total Unusual Items | 0 | -197.27 | 0 | 10 |
| Total Unusual Items Excluding Goodwill | 0 | -197.27 | 0 | 10 |
| Net Income From Continuing Operation Net Minority Interest | -83.81 | -338.79 | -208.02 | -155.20 |
| Reconciled Depreciation | 1.96 | 0.74 | 0 | 0 |
| Net Interest Income | 0.84 | 6.15 | 21.31 | 24.89 |
| Net Income From Continuing And Discontinued Operation | -83.81 | -338.79 | -208.02 | -155.20 |
| Total Operating Income As Reported | -84.78 | -242.30 | -208.57 | -209.56 |
| Diluted Average Shares | 3.37 | 6.90 | 47.03 | 64.06 |
| Basic Average Shares | 3.37 | 6.90 | 47.03 | 64.06 |
| Diluted NI Availto Com Stockholders | -83.81 | -338.79 | -208.02 | -155.20 |
| Preferred Stock Dividends | 0 | 243.91 | 58.46 | 0 |
| Net Income Including Noncontrolling Interests | -83.81 | -338.79 | -208.02 | -155.20 |
| Net Income Continuous Operations | -83.81 | -338.79 | -208.02 | -155.20 |
| Other Income Expense | -0.01 | -216.40 | -20.71 | 39.46 |
| Other Non Operating Income Expenses | -0.01 | -19.13 | -20.71 | 29.46 |
| Special Income Charges | 0 | -113.74 | 0 | 10 |
| Gain On Sale Of Ppe | 0 | 16.45 | 0 | 10 |
| Other Special Charges | 0 | 130.19 | 0 | 0 |
| Gain On Sale Of Security | 0 | -83.53 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.84 | 6.15 | 21.31 | 24.89 |
| Interest Income Non Operating | 0.84 | 6.15 | 21.31 | 24.89 |
| General And Administrative Expense | 28.53 | 39.95 | 45.78 | 47.91 |
| Other Gand A | 28.53 | 39.95 | 45.78 | 47.91 |
| Operating Revenue | 2.33 | 0.89 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Spyre Therapeutics, Inc.this co. | SYRE | $6.2B | - | 10.05 | 0.0% | - |
| Arcellx, Inc. | ACLX | $6.7B | - | 16.56 | -56.9% | -25.69 |
| Kymera Therapeutics, Inc. | KYMR | $6.7B | - | 4.20 | -19.7% | -17.38 |
| Cogent Biosciences, Inc. | COGT | $6.1B | - | 10.56 | -51.7% | -15.73 |
| Terns Pharmaceuticals, Inc. | TERN | $6.1B |
| - |
| 5.91 |
| -9.6% |
| -46.26 |
| Hims & Hers Health, Inc. | HIMS | $6.1B | 51.63 | 11.06 | 23.7% | 37.26 |
| Celcuity Inc. | CELC | $5.8B | - | 57.10 | -176.1% | -32.74 |
| Mirum Pharmaceuticals, Inc. | MIRM | $5.7B | - | 15.53 | -7.4% | 2666.18 |
| CG Oncology, Inc. | CGON | $5.7B | - | 6.94 | -21.4% | -24.99 |
| Peer Median | - | 51.63 | 10.81 | -20.6% | -21.19 | |