XML 12 R1.htm IDEA: XBRL DOCUMENT v3.24.3
Cover - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Feb. 21, 2024
Jun. 30, 2023
Cover [Abstract]      
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-37722    
Entity Registrant Name SPYRE THERAPEUTICS, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-4312787    
Entity Address, Address Line One 221 Crescent Street    
Entity Address, Address Line Two Building 23, Suite 105    
Entity Address, City or Town Waltham    
Entity Address, State or Province MA    
Entity Address, Postal Zip Code 02453    
City Area Code 617    
Local Phone Number 651-5940    
Title of 12(b) Security Common Stock, $0.0001 Par Value Per Share    
Trading Symbol SYRE    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag false    
Document Financial Statement Error Correction true    
Document Financial Statement Restatement Recovery Analysis [Flag] true    
Entity Shell Company false    
Entity Public Float     $ 26.2
Entity Common Stock Shares Outstanding   36,150,941  
Entity Central Index Key 0001636282    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Amendment Flag true    
Amendment Description This Amendment No. 2 on Form 10-K/A (this “Amendment”) amends the Annual Report on Form 10-K of Spyre Therapeutics, Inc. (the “Company”) for the fiscal year ended December 31, 2023, as filed with the Securities and Exchange Commission on February 29, 2024, as amended by Form 10-K/A of the Company filed with the Securities and Exchange Commission on March 1, 2024 (as amended, the "Original Filing").Subsequent to the filing of its Form 10-Q for the three and nine months ended September 30, 2024, the Company became aware of a misapplication of Generally Accepted Accounting Principles in the United States ("U.S. GAAP") as it relates to the Company's exclusion of its Series A non-voting convertible preferred stock and Series B non-voting convertible preferred stock in the calculation of basic and diluted net loss per share and a finding of a material weakness in internal control over financial reporting solely related to such matter. This Amendment is being filed for the sole purpose of amending certain disclosures from the Original Filing related to the aforementioned misapplication of U.S. GAAP and related finding of material weakness in internal control over financial reporting.Specifically, this Amendment amends: (i) Part II, Item 8. "Financial Statements and Supplementary Data" to update the Company's Consolidated Statement of Operations and related footnote disclosures for the twelve months ended December 31, 2023, (ii) Part II, Item 9A. "Controls and Procedures" to address management's re-evaluation of disclosure controls and procedures as of December 31, 2023 and to reflect the identification of a material weakness in our internal control over financial reporting and (iii) Part IV, Item 15. "Exhibits and Financial Statement Schedules" to include, in accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), updated certifications from our Chief Executive Officer and Chief Financial Officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 as Exhibits 31.1, 31.2 and 32.1 and an updated Consent of Independent Registered Public Accounting Firm as Exhibit 23.1. In accordance with Rule 12b-15 under the Exchange Act, this Amendment amends and restates in their entirety each item identified in the paragraph above.Other than as described above, this Amendment does not amend, update or change any other items or disclosures contained in the Original Filing, and accordingly, all other information contained in this Amendment is as of the date of the original filing and does not reflect subsequent information or events beyond the original filing date, February 29, 2024. Accordingly, this Amendment should be read in conjunction with other filings made with the SEC subsequent to the filing of the Original Filing, including any amendments to those filings. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Original Filing.