Spyre's RA Drug Misses Internal Bar, Stock Tumbles 12%
SYRE has more than doubled off its 52-week low of $14.505.
Summary
Spyre's SPY072 hit statistical significance in rheumatoid arthritis but missed the company's internal bar for monotherapy development, sending shares down 12.33% to $94.12. The low dose beat placebo on the primary endpoint DAS28-CRP at Week 12, and both doses showed complete TL1A suppression, but the efficacy wasn't strong enough to prioritize RA advancement. Safety was clean with 27% adverse events vs 36% placebo. The company will now focus on psoriatic arthritis and axial spondyloarthritis readouts by Q4 2026, plus a combination trial in hidradenitis suppurativa in late 2027/early 2028. This follows the 8-K filed yesterday that first disclosed the miss, but today's selloff reflects the market's disappointment with the RA program's future.
At the time of this announcement, SYRE was trading at $96.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.5B. The 52-week trading range was $14.51 to $110.18. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.