Spyre Therapeutics Inc
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Spyre Therapeutics Inc AI Insights
Informational only. Not investment advice.Snapshot
- Zero revenue pre-clinical biotech burning 224M TTM operating expense with 177M (79%) in R&D - pure drug development bet.[Research and Development TTM]
- Cash runway critical: 65M cash vs 162M TTM cash burn = ~5 months runway without capital raise.[Cash and Equivalents]
- Zero debt with 299M stockholders equity and 458M working capital provides clean balance sheet for financing.[Debt to Equity]
Watch Triggers
- Cash and Equivalents: Falls below 50M or capital raise announced — Financing terms will determine dilution impact on existing shareholders.
- Research and Development TTM: Significant increase or decrease quarter-over-quarter — R&D changes signal pipeline advancement or program failures.
- Operating Expense TTM: Exceeds 250M quarterly run rate — Accelerating burn shortens runway and increases financing urgency.
Bull Case
Clean balance sheet (zero debt, 299M equity) and 2B market cap signals investor confidence in pipeline value beyond current financials.
Heavy R&D focus (177M, 79% of opex) indicates late-stage development potential; successful trials could transform valuation.
Bear Case
5-month cash runway guarantees dilutive financing; at 2B market cap, 200M raise = 10% dilution minimum.
Trading at 6.8x book value with zero revenue - entire valuation rests on binary clinical trial outcomes.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Imminent capital raise required within 6 months given 5-month cash runway at current burn rate.
- 65M cash vs 162M annual burn
- No revenue to offset expenses
- R&D spend of 177M TTM ongoing
Valuation Context
Caveats
SYRE Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$6.45B | — | ||
$6.36B | — | ||
0.00 | — | ||
$0 | — | ||
$-2.12 | — | ||
0% | — | ||
0% | — | ||
$-185.63M | — | ||
-42.6% | — | ||
Beta 5Y (Monthly) | unknown | — |
SYRE Dividend History
SYRE Stock Splits
SYRE SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/05/26 | 03/31/26 | 10-Q | |
02/19/26 | 12/31/25 | Unknown | |
11/04/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/27/25 | 12/31/24 | 10-K | |
11/18/24 | 09/30/24 | 10-Q/A | |
11/07/24 | 09/30/24 | 10-Q | |
11/18/24 | 06/30/24 | 10-Q/A | |
08/07/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
11/18/24 | 03/31/24 | 10-Q/A | |
02/29/24 | 12/31/23 | 10-K | |
11/18/24 | 09/30/23 | 10-Q/A | |
11/09/23 | 09/30/23 | 10-Q | |
11/18/24 | 06/30/23 | 10-Q/A | |
08/11/23 | 06/30/23 | 10-Q | |
05/11/23 | 03/31/23 | 10-Q | |
11/18/24 | 03/31/23 | 10-Q/A | |
03/02/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
11/18/24 | 12/31/21 | 10-K/A | |
03/08/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/10/21 | 03/31/21 | 10-Q | |
03/18/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/10/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
02/24/20 | 12/31/19 | 10-K | |
11/06/19 | 09/30/19 | 10-Q | |
08/06/19 | 06/30/19 | 10-Q | |
05/07/19 | 03/31/19 | 10-Q | |
03/07/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/09/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
03/13/18 | 12/31/17 | 10-K | |
11/07/17 | 09/30/17 | 10-Q | |
08/09/17 | 06/30/17 | 10-Q | |
05/09/17 | 03/31/17 | 10-Q | |
03/23/17 | 12/31/16 | 10-K | |
11/09/16 | 09/30/16 | 10-Q | |
08/09/16 | 06/30/16 | 10-Q | |
05/19/16 | 03/31/16 | 10-Q | |
04/07/16 | 12/31/15 | 424B4 | |
11/05/15 | 09/30/15 | S-1/A | |
09/14/15 | 06/30/15 | S-1/A | |
06/16/15 | 03/31/15 | S-1 | |
06/16/15 | 12/31/14 | S-1 | |
09/30/14 | 09/30/14 | Unknown | -- |
06/30/14 | 06/30/14 | Unknown | -- |
06/16/15 | 03/31/14 | S-1 |