Spyre Therapeutics, Inc.

SYRE

Held by 7 specialist biotech funds

High Convergence

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Fund Holdings

7 fund convergence

Baker Bros. Advisors RTW Investments Driehaus Capital

Catalysts

No catalysts tracked.

Position Details

Baker Bros. AdvisorsNEWFeb 17, 2026

Shares: 1,000,000Value: $32.8M

## Signal Note: Baker Bros. Initiates $32.8B Position in Spyre Therapeutics (SYRE) **Note: The reported position value of $32.76B on 1M shares appears to be a data error — SYRE's entire market cap is ~$3.3B; this likely represents a ~$32.8M position, consistent with shares at ~$32.76/share.** That said, Baker Bros. initiating any new position in Spyre is a meaningful signal. Spyre is developing next-gen anti-TL1A (izalontafig) and anti-TNF (lusacaftor) antibodies for IBD (ulcerative colitis and Crohn's disease), directly competing in the hot anti-TL1A space against Merck's tulisokibart. Key catalysts include Phase 2 readouts for izal

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Insider Signals

No insider signals tracked.

Also Held by These Funds

BCRX4 funds IRON4 funds EWTX4 funds FDMT3 funds ALKS3 funds NBIX3 funds SION3 funds CTNM

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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RTW's substantial $136.7M entry into SYRE signals conviction in the company's pipeline, likely centered on bonitoide (SPY706), an oral TRPV1 antagonist in Phase 2b for osteoarthritis pain where oral small-molecule alternatives remain limited. The timing suggests confidence in upcoming efficacy data or commercial potential, though investors should track Phase 2b results and competitive positioning against GLP-1s and other pain modalities already capturing market share.