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Spyre Shares Drop After SPY072 Fails to Meet RA Trial Goal

Spyre Therapeutics logoSpyre Therapeutics
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Spyre tested two doses of SPY072 in a placebo-controlled rheumatoid arthritis study. The drug showed proof-of-mechanism and met multiple objectives, but the lower dose missed statistical significance on the main disease-activity measure, and Spyre said it fell short of the company’s bar for further monotherapy development. Shares tumbled 13%, wiping out more than $1 billion in value.

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