- Spyre Therapeutics is advancing two Phase 2 trials, Skyline for Inflammatory Bowel Disease (IBD) and Skyway for rheumatic diseases, with the **first dosing of its anti-TL1A antibody in rheumatic diseases** recently announced.  **[1636282_2144351_0]** 
- The company anticipates **nine proof-of-concept placebo-controlled readouts** over the next couple of years from these studies, targeting indications with **over $60 billion in annual revenue**.  **[1636282_2144351_0]** 
- Key data catalysts include open-label monotherapy results from the Skyline IBD study in **2026**, followed by six combination readouts in **2027**, and results from each Skyway rheumatic disease indication also expected in **2026**.  **[1636282_2144351_4]** **[1636282_2144351_6]** 
- Spyre reported **$527 million on its balance sheet** as of the last quarter, providing a cash runway into the **second half of 2028**, which fully funds all expected readouts through 2027 with an additional year of cash.  **[1636282_2144351_7]**

Spyre Therapeutics (SYRE)