FINWIRES · TerminalLIVE
FINWIRES

Spyre Halts Stand-Alone Rheumatoid Arthritis Drug Development; Shares Fall After Hours

By

Spyre Therapeutics (SYRE) said its experimental rheumatoid arthritis drug SPY072 failed to meet the company's internal performance threshold needed to justify further stand-alone development, prompting the halt of its monotherapy RA program.

The drug delivered statistically significant improvements over placebo on several efficacy measures and showed a tolerable safety profile with no drug-related serious adverse events, the company said Tuesday in a statement.

Spyre said it will now evaluate SPY072 in combination regimens and in other autoimmune indications, with additional clinical readouts expected in Q4.

Spyre shares fell 12% in after-hours trading.

Related Articles

Wire

Nutex Health Reports Cybersecurity Incident, Says Data Was Accessed

Nutex Health (NUTX) said Monday it recently learned of unauthorized activity involving data stored on its computer network, including information that was accessed and taken by an outside party.The company said in a regulatory filing it has engaged an independent cybersecurity response team and forensic experts, activated its response plan, implemented containment measures, and notified law enforcement.Based on preliminary findings, Nutex said certain information maintained on its servers was accessed by an unauthorized third party, including information that may be private or confidential, though it has not identified any material impact on its business operations or financial reporting systems to date.The company said it continues to assess whether patient, employee, provider or business information was involved and is reviewing applicable notification requirements, including to any individuals whose data may have been taken.Nutex shares fell 1.4% in after-hours trading.

$NUTX
Wire

Update: Braskem Files for Out-of-Court Restructuring of Over $10 Billion in Debt

(Updates sourcing and adds share movement in the 1st paragraph)Braskem (BAK) said Monday that its board approved the filing of an out-of-court restructuring petition covering the company and certain subsidiaries, involving about $10.9 billion in unsecured financial obligations, sending its shares down about 7%.The company said the restructuring is intended to provide a stable and protected legal environment for negotiating and implementing the restructuring of those obligations.Braskem said the process has a strictly financial scope and does not cover obligations to suppliers, customers or other stakeholders, which will continue to be fulfilled as usual.Braskem said it will file the petition once the relevant documents have been formalized and will provide further updates through its investor relations website and regulatory channels.Price: $1.86, Change: $-0.14, Percent Change: -6.78%

$BAK
Wire

Update: Market Chatter: Polestar Says It Was Surprised by Forced US Exit

(Updates with Polestar's response in the last paragraph.)Polestar Automotive (PSNY) said it still does not understand why it must stop US sales while its corporate cousin, Volvo Cars, was allowed to continue, The Wall Street Journal reported Monday, citing an Aug. 18 letter from Polestar to its US dealers.The Trump administration is implementing a new rule to prevent China from spying through connected-vehicle technology, with Polestar becoming the first auto manufacturer effectively blocked from selling vehicles in the US under the rule, the report said.Polestar said the US Commerce Department had indicated that it would be allowed to sell in the US, like Volvo Cars, as the automakers share a Chinese majority owner and have nearly identical hardware and software in two of their models, the report said.In response to, a Polestar spokesperson referred to the company's June 25 statement, it which it said it is now focused on Europe, which represents nearly 80% of its retail sales volumes, following the US Department of Commerce's decision to not grant Polestar an authorisation to sell vehicles in the US from model year 2027 onwards.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $12.81, Change: $-0.52, Percent Change: -3.93%

$PSNY