Spyre Therapeutics, Inc. SYRE
Spyre Therapeutics, Inc. (NASDAQ: SYRE) is a clinical-stage biotechnology company pioneering long-acting antibodies and antibody combinations to redefine the standard of care for inflammatory bowel disease ("IBD") and rheumatic diseases. Spyre's pipeline includes extended half-life antibodies targeting α4β7, TL1A, and IL-23 in development as monotherapies and pair-wise combinations.
Our goal is to develop next-generation therapeutics to redefine the standard of care for the treatment of IBD and other immune-mediated diseases, relying on three strategic pillars:
•Advancing a portfolio of next-generation monotherapies - novel antibody candidates engineered for optimized potency, selectivity, and pharmacokinetics ("PK") against validated IBD targets
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $886.0K | $2.3M | $18.7M | $0 | $0 | $3.9M | $5.2M | $4.6M |
| R&D | — | — | — | $58.6M | $57.1M | $59.6M | $64.6M | $36.7M | $22.8M | $18.1M |
| SG&A | $47.9M | $45.8M | $39.9M | $28.5M | $27.3M | $21.8M | $15.7M | $12.6M | $10.1M | $8.4M |
| Total operating expenses | $209.6M | $208.6M | $243.2M | $87.1M | $84.4M | $81.5M | $80.3M | $49.4M | $32.9M | $26.5M |
| Operating income | -$209.6M | -$208.6M | -$242.3M | -$84.8M | -$65.6M | -$81.5M | -$80.3M | -$45.5M | -$27.7M | -$21.9M |
| Pre-tax income | -$155.2M | -$208.0M | -$338.8M | -$84.0M | -$65.7M | -$80.9M | -$78.3M | -$44.3M | -$27.2M | -$21.7M |
| Income tax | $15.0K | $51.0K | $26.0K | $136.0K | $141.0K | $0 | $0 | $0 | $0 | $0 |
| Net income | -$155.2M | -$208.0M | -$338.8M | -$83.8M | -$65.8M | -$80.9M | -$78.3M | -$44.3M | -$27.2M | -$21.7M |
| EPS, basic | — | — | 13.76 | -24.86 | -25.02 | -1.52 | — | — | — | — |
| EPS, diluted | — | — | 13.76 | -24.86 | -25.02 | -1.52 | -2.45 | -2.13 | -1.80 | -2.22 |
| Shares, diluted (wtd. avg.) | — | — | $6.9M | $3.4M | $2.6M | $53.4M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $85.7M | $89.4M | $188.9M | $36.4M | $17.0M | $91.9M | $19.3M | $22.5M | $12.8M | $47.7M |
| Short-term investments | $670.8M | $513.7M | $150.4M | $20.8M | $78.0M | $56.2M | $52.7M | $52.1M | $37.5M | $15.8M |
| Total current assets | $777.8M | $608.5M | $341.5M | $62.3M | $98.9M | $149.8M | $74.5M | $76.7M | $55.0M | $66.4M |
| Property, plant and equipment | — | — | $0 | $3.2M | $4.5M | $5.6M | $2.4M | $1.0M | $854.0K | $599.0K |
| Total assets | $777.8M | $608.5M | $341.9M | $71.1M | $109.9M | $161.6M | $83.2M | $77.7M | $56.1M | $67.1M |
| Accounts payable | — | — | — | $677.0K | $3.3M | $2.3M | $3.2M | $663.0K | $389.0K | $168.0K |
| Total current liabilities | $58.7M | $54.1M | $32.0M | $14.7M | $20.1M | $16.4M | $18.4M | $10.2M | $5.6M | $4.0M |
| Total liabilities | $62.5M | $90.7M | $73.3M | $20.8M | $26.0M | $21.8M | $23.1M | $10.3M | $5.7M | $4.1M |
| Retained earnings | -$1.13B | -$972.4M | -$764.4M | -$425.6M | -$341.8M | -$276.0M | -$195.1M | -$116.9M | -$72.5M | -$45.3M |
| Total equity | $715.2M | $517.8M | $184.0M | $50.3M | $83.9M | $139.8M | $60.1M | $67.4M | $50.3M | $63.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$169.3M | -$157.4M | -$99.9M | -$80.1M | -$53.7M | -$75.8M | -$65.7M | -$32.2M | -$24.6M | -$18.8M |
| Depreciation and amortisation | $0 | $0 | $744.0K | $1.6M | $1.6M | $996.0K | $418.0K | $293.0K | $249.0K | $132.0K |
| Stock-based compensation | $37.6M | $44.8M | $25.7M | $7.1M | $8.0M | $6.3M | $4.9M | $4.3M | $2.5M | $1.2M |
| Capital expenditure | — | $0 | $0 | $38.0K | $573.0K | $4.3M | $1.5M | $422.0K | $619.0K | $212.0K |
| Investing cash flow | -$143.5M | -$353.3M | -$108.4M | $57.0M | -$22.6M | -$7.6M | -$1.7M | -$15.2M | -$22.5M | -$12.1M |
| Financing cash flow | $309.0M | $410.9M | $361.1M | $42.7M | $1.4M | $154.5M | $65.7M | $57.1M | $12.2M | $49.4M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001636282-26-000039.
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