Spyre shares plunge as rheumatoid arthritis trial of SPY072 falls short of internal target

Spyre Therapeutics reported that its antibody SPY072 did not meet the company’s internal criteria in a mid‑stage rheumatoid arthritis trial, despite showing some activity.

The placebo‑controlled study tested two doses and achieved proof‑of‑mechanism, but the results were insufficient to justify continuing development as a monotherapy for RA.

Consequently, Spyre said it will shift focus to evaluating SPY072 in other autoimmune diseases such as psoriatic arthritis and axial spondyloarthritis, with data expected later this year.

The news sent Spyre’s stock down about 13%, wiping out more than $1 billion in market value, and raised doubts about the broader potential of TL1A‑targeting drugs in rheumatoid arthritis.