Spyre reports positive Phase 2 ulcerative colitis data, raises $435M, expands into rheumatic diseases

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~2 min read

Key Changes

• high

  SPY001 met primary endpoint in ulcerative colitis Phase 2 trial with statistically significant 9.2-point reduction in histopathology score (p<0.0001); 40% achieved clinical remission and 51% showed endoscopic improvement.

  MD&A: SPY001 SKYLINE Part A topline results verify on EDGAR →
• high

  Company raised $435M net proceeds in April 2026 public offering at $62/share, increasing cash position to $741.5M from $564.8M year-over-year; annual net loss declined to $155.2M (2025) from $208.0M (2024).

  MD&A: April 2026 equity offering; Risk Factors: cash position verify on EDGAR →
• high

  Initiated SKYWAY Phase 2 basket trial of SPY072 (anti-TL1A) in rheumatoid arthritis, psoriatic arthritis, and axial spondyloarthritis; RA cohort completed enrollment ahead of schedule with topline data expected Q3 2026.

  MD&A: SKYWAY Phase 2 basket trial verify on EDGAR →