Spyre Therapeutics Will Begin Trading On Nasdaq Under Trading Symbol "SYRE" Effective November 28, 2023; $205M Of Cash, Cash Equivalents, Marketable Securities, And Restricted Cash As Of September 30, 2023, With Expected Runway Into 2026
Portfolio Pulse from Benzinga Newsdesk
Spyre Therapeutics is set to begin trading on Nasdaq under the symbol 'SYRE' starting November 28, 2023. The company reported having $205 million in cash, cash equivalents, marketable securities, and restricted cash as of September 30, 2023, which is expected to fund operations into 2026.
November 27, 2023 | 1:43 pm
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Spyre Therapeutics will start trading on Nasdaq, indicating a new investment opportunity with a solid financial base and a long operational runway.
The commencement of trading typically generates investor interest, especially when the company in question has a strong financial position. The reported cash reserves and expected runway suggest a lower risk of near-term financial distress, which could be positive for the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100