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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Spyre Therapeutics reported revenue of $0 in the fiscal year ended Dec 2025. Net income was −$155M.
Ranks among the 78 drug manufacturers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 18.7 | 2.3 | 0.9 | 0.0 | 0.0 |
| Research & development | 57.1 | 58.6 | 89.5 | 163 | 172 |
| Operating income | −65.6 | −84.8 | −242 | −209 | −210 |
| Pre-tax income | −65.7 | −84.0 | −339 | −208 | −155 |
| Income tax | 0.1 | −0.1 | −0.0 | 0.1 | −0.0 |
| Net income | −65.8 | −83.8 | −339 | −208 | −155 |
| Diluted EPS | −25.02 | −24.86 | 13.76 | – | – |
| Diluted shares | 2.6 | 3.4 | 6.9 | – | – |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 15.1 | 34.9 | 189 | 89.4 | 85.7 |
| Current assets | 98.9 | 62.3 | 342 | 608 | 778 |
| Net PP&E | 4.5 | 3.2 | 0.0 | – | – |
| Total assets | 110 | 71.1 | 342 | 608 | 778 |
| Payables | 3.3 | 0.7 | 0.9 | – | – |
| Deferred revenue | 3.6 | 0.5 | 0.0 | 0.0 | 0.0 |
| Current liabilities | 20.1 | 14.7 | 32.0 | 54.1 | 58.7 |
| Total liabilities | 26.0 | 20.8 | 73.3 | 90.7 | 62.5 |
| Shareholders' equity | 83.9 | 50.3 | 184 | 518 | 715 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −53.7 | −80.1 | −99.9 | −157 | −169 |
| Capital expenditure | 0.6 | 0.0 | 0.0 | 0.0 | – |
| Free cash flow | −54.3 | −80.2 | −99.9 | −157 | – |
| Depreciation & amortisation | 1.6 | 1.6 | 0.7 | 0.0 | 0.0 |
| Stock-based compensation | 8.0 | 7.1 | 25.7 | 44.8 | 37.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −87.6% | −62.0% | −100.0% | – |
| Operating margin | −350.3% | −3640.2% | −27348.0% | – | – |
| Net margin | −351.1% | −3598.8% | −38238.1% | – | – |
| Return on equityBlank when equity is negative | −78.4% | −166.6% | −184.1% | −40.2% | −21.7% |
| ROCEEBIT ÷ (assets − current liabilities) | −73.1% | −150.1% | −78.2% | −37.6% | −29.1% |
| Free cash flow margin | −289.7% | −3442.8% | −11276.5% | – | – |
| Cash conversion (CFO ÷ net income) | 0.82x | 0.96x | 0.29x | 0.76x | 1.09x |
| Current ratio | 4.91x | 4.25x | 10.7x | 11.3x | 13.3x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.