New York, January 5, 2026, 15:09 EST — Regular session
- Spyre Therapeutics shares slipped about 3% in afternoon trade as biotech stocks lagged the broader market
- Biotech ETFs were lower even as the S&P 500 ETF stayed in positive territory
- Focus turns to 2026 clinical updates and a projected late-February quarterly report
Shares of Spyre Therapeutics Inc fell 2.7% to $29.75 in afternoon trading on Monday, extending a choppy start to the year for smaller biotechnology names. The stock traded between $28.02 and $30.75, with about 0.63 million shares changing hands.
The decline tracked weakness across the biotech complex, with the SPDR S&P Biotech ETF down 1.7% and the iShares Nasdaq Biotechnology ETF off 1.5%. Both are exchange-traded funds, meaning baskets of stocks that trade like a single share, while the SPDR S&P 500 ETF rose 0.7%, underscoring the sector’s underperformance.
That matters for Spyre because it remains a clinical-stage developer — it has not generated revenue from commercial product sales and has no products on the market, its latest quarterly report said. In that setup, swings in risk appetite can hit valuations quickly as investors weigh how long companies may need to rely on external financing.
Rate expectations have stayed in focus as investors debate whether inflation could force central banks to keep policy restrictive for longer — a backdrop that typically pressures stocks whose value depends on profits years out. “You need a pin that pricks the bubble and it will probably come through tighter money,” said Trevor Greetham, head of multi-asset at Royal London Asset Management. 1
Spyre is developing long-acting antibodies targeting α4β7 integrin, TL1A and IL-23 for inflammatory bowel disease and certain rheumatic diseases, the company said in a June filing. The filing said Spyre expects to report open-label monotherapy data — in which patients and doctors know what treatment is being given — from its SKYLINE-UC Phase 2 platform study in ulcerative colitis in 2026, alongside placebo-controlled readouts for SPY072 in rheumatoid arthritis, psoriatic arthritis and axial spondyloarthritis from the SKYWAY-RD trial.
Bigger drugmakers were also lower on the session, with AbbVie down 4.4%, Eli Lilly off 3.6% and Gilead Sciences down 2.8%.
From a trading perspective, Monday’s session low is the nearest support level, after buyers stepped in following the early dip. The session high is the first resistance point if the stock stabilizes with the broader sector.
For longer-term holders, the next check points are less about day-to-day tape action and more about timelines: trial enrollment pace, how combination regimens are sequenced, and whether the company can preserve optionality without a step-up in cash burn.
But the stock’s path ultimately hinges on clinical execution. A safety signal, a delay in trial timelines, or efficacy that fails to hold up in larger studies would likely reprice expectations quickly in a sector where sentiment can turn on a few data points.
