NEW YORK, Jan 4, 2026, 11:15 ET — Market closed
- Spyre Therapeutics (NASDAQ: SYRE) closed down 6.6% on Friday at $30.58.
- Investors are focused on 2026 mid-stage clinical readouts that could set the stock’s direction.
- U.S. markets reopen Monday with key economic data and healthcare conference season approaching.
Spyre Therapeutics shares fell 6.6% to $30.58 on Friday, then ticked up about 2% in after-hours trading, as U.S. markets headed into the weekend. 1
With markets shut on Sunday, the Friday move leaves Spyre starting the new week with momentum tilted lower — a reminder that development-stage biotech stocks can swing sharply even without fresh headlines.
That matters now because Spyre’s valuation hinges on clinical data due in 2026, not product sales. Any shift in expectations for timing or quality of those readouts can drive outsized moves.
In its most recent corporate update, Spyre said it is running a Phase 2 “platform” trial — a study designed to test multiple drugs and combinations under a single protocol — in ulcerative colitis, with induction data expected in 2026. The company also said a separate Phase 2 basket trial in rheumatic diseases is expected to deliver proof-of-concept readouts in 2026. 2
Proof-of-concept data is an early signal of whether a drug works in patients and can clear a path to larger, costlier studies. Competition is intense in immune and inflammatory targets such as TL1A, where rivals including Merck and Roche have also been pursuing clinical programs, a peer’s filing shows. 3
On Friday, Spyre traded between $30.11 and $32.89 on roughly 889,000 shares, according to market data. Traders will be watching whether the stock holds above Friday’s low near $30 when regular trading resumes Monday.
Macro data could also set the tone for risk appetite in smaller biotech names. The week begins with the ISM manufacturing index at 10:00 a.m. ET on Monday, with the U.S. employment report due Friday, according to published calendars. 4
Healthcare investors are also looking ahead to the J.P. Morgan Healthcare Conference in San Francisco on Jan. 12–15, a traditional focal point for sector updates and deal chatter. 5
But the biggest risk for Spyre remains execution: Phase 2 results can disappoint on efficacy or safety, and delays can push back timelines while costs rise. If readouts slip or come in weak, the stock’s premium for long-acting immunology programs could compress quickly.
