Guggenheim Reveals Top Biotech Stock After Positive Clinical Trial Data

Guggenheim has identified Spyre Therapeutics as its preferred biotechnology investment, citing encouraging Phase II trial results for the company’s experimental inflammatory bowel disease therapy.

The firm elevated Spyre Therapeutics to the top of its coverage after the biotech disclosed 12-week topline data from the Phase II SKYLINE-UC monotherapy study of SPY003, a longer-acting anti-IL-23 monoclonal antibody.

That study assessed three treatment groups, enrolling 43, 48, and 44 patients for SPY001, SPY002, and SPY003, respectively.

Spyre Therapeutics

Guggenheim made Spyre Therapeutics its top pick based on the SPY003 data in ulcerative colitis. The therapy showed efficacy aligning with IL-23p19 comparators, with a 20% clinical remission rate, 30% endoscopic remission, and a 10.0-point reduction on the Robarts Histopathology Index.

Guggenheim said durability is a major distinguishing factor for SPY003, which could make it an attractive candidate for combination therapy partnerships.

About 41% of trial participants had prior experience with advanced therapies, and a larger subset had failed two or more such treatments, including JAK inhibitors and IL-12/23 agents. Safety results matched the IL-23p19 class profile, with no serious drug-related adverse events and no discontinuations due to adverse events.

With Part A complete, the placebo-controlled Part B trial is now enrolling and will test two dose levels of each monotherapy plus three high-dose combination regimens. Induction topline results from Part B are anticipated in 2027.

Another catalyst expected in 2026 is the SKYWAY-RD readout for SPY072 in psoriatic arthritis and axial spondyloarthritis, slated for Q4 2026. Guggenheim sees Spyre Therapeutics as best placed among developers of longer-acting monoclonal antibodies for IBD and related disorders.

Separately, Spyre Therapeutics recently disclosed topline data from a rheumatoid arthritis sub-study of SPY072, saying the effect size fell short of the internal bar required to prioritize the drug as a monotherapy.

In response, Wolfe Research cut its rating on the company to Peerperform from Outperform, while Baird, Guggenheim, and Stifel all reaffirmed their positive recommendations.

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