Key TakeawaysShares of SYRE tumbled 14% during after-hours trading Tuesday following the company’s decision to discontinue SPY072 development as a standalone rheumatoid arthritis therapySPY072 demonstrated superiority over placebo across both dosing levels in the SKYWAY Phase 2 study, yet fell short of the company’s predetermined internal efficacy benchmarkThe study included 143 patients; safety profile showed adverse events at or below placebo levelsAdditional Phase 2 results for SPY072 in psoriatic arthritis and axial spondyloarthritis are anticipated in the fourth quarter of 2026Analysts maintain a Strong Buy rating on SYRE stock with a mean price target of $124.73Shares of Spyre Therapeutics (SYRE) plummeted up to 14% in extended trading hours Tuesday after the biotech firm announced it would halt advancement of SPY072 as a monotherapy option for rheumatoid arthritis. Prior to the announcement, the stock was hovering near $107.36.Spyre Therapeutics, Inc., SYREThe determination came on the heels of top-line findings from the rheumatoid arthritis portion of the SKYWAY Phase 2 clinical study. While both dosing regimens of SPY072 demonstrated superiority over placebo across primary endpoints, the magnitude of improvement fell below Spyre’s predetermined efficacy threshold required to advance monotherapy development in this indication.Breaking down the data, the SPY072 Low Dose arm achieved a DAS28-CRP change from baseline of -1.9 compared with -1.3 in the placebo group at the 12-week mark. The High Dose cohort demonstrated a 63% ACR20 response rate against 43% for placebo. The Low Dose arm achieved 38% on ACR50 compared to 19% in the control group.The study evaluated three treatment arms encompassing 143 total participants. The High Dose group contained 48 subjects, the Low Dose arm included 48 patients, and 47 individuals received placebo.From a safety perspective, the drug demonstrated a favorable profile. Treatment-emergent adverse events occurred in 27% of SPY072-treated subjects compared to 36% in the placebo arm, with the majority classified as mild to moderate in severity.Future Direction for SPY072 DevelopmentSpyre is not abandoning the SPY072 program altogether. The biotechnology company intends to continue investigating it within combination treatment strategies, including its partnership with an IL-17A/F inhibitor as part of the SPY772 development program targeting hidradenitis suppurativa. Results from that combined therapy investigation are projected for late 2027 or the first quarter of 2028.Additional pipeline milestones remain on the horizon. Phase 2 clinical data for SPY072 in both psoriatic arthritis and axial spondyloarthritis indications are slated for release during the fourth quarter of 2026. These data releases will draw significant attention from investors following Tuesday’s rheumatoid arthritis setback.According to Spyre, the trial outcomes continue to validate the broader therapeutic promise of its TL1A antibody platform across autoimmune conditions, especially when deployed as components within combination regimens rather than as single-agent treatments.Analyst Community Remains OptimisticNotwithstanding the after-hours decline, Wall Street’s outlook remains unchanged. SYRE maintains a Strong Buy consensus rating from analysts, supported by 13 Buy recommendations and a single Hold rating.The consensus 12-month price target stands at $124.73, implying approximately 16% potential upside from the pre-announcement trading level.From a chart perspective, SYRE was positioned above both its 20-day exponential moving average of $103.75 and its 50-day EMA of $96.37 prior to the announcement. The Williams %R indicator was also flashing a Buy signal, indicating the stock had not entered overbought territory.The critical inflection point for SYRE investors will arrive with the Q4 2026 clinical data releases in psoriatic arthritis and axial spondyloarthritis indications.The post Spyre Therapeutics (SYRE) Stock Plunges 14% on SPY072 Rheumatoid Arthritis Trial Results appeared first on Blockonomi.