Spyre Therapeutics reports strong Phase 2 trial results and raises $463M, extending cash runway to 2029.

Spyre Therapeutics announced positive Phase 2 trial results for its SPY001 drug in inflammatory bowel disease, showing strong efficacy and safety. The company also accelerated enrollment and topline data for its rheumatoid arthritis trial, with multiple data readouts expected in 2026. Spyre raised $463 million in a public offering, boosting its cash reserves to $1.2 billion, supporting operations through mid-2029. These developments position Spyre to advance its pipeline targeting IBD and rheumatic diseases with innovative long-acting antibody therapies.