Estados financieros detallados de Spyre Therapeutics, Inc. (SYRE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo -222.5%, margen neto -197.7%.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $4.6M | $5.2M | $3.9M | 0 | 0 | $18.7M | $2.3M | $886000 | 0 | 0 |
| Coste de Ventas | 0 | 0 | 0 | $901000 | $1.6M | 0 | 0 | 0 | 0 | $171.7M |
| Beneficio Bruto | 0 | 0 | 0 | -$901000 | -$1.6M | $18.7M | $2.3M | $886000 | 0 | -$171.7M |
| I+D | $18.1M | $22.8M | $36.7M | $64.6M | $59.6M | $57.1M | $58.6M | $89.5M | $162.8M | $171.7M |
| Generales y Administrativos | $8.4M | $10.1M | $12.6M | $14.8M | $20.2M | $27.3M | $28.5M | $39.9M | $45.8M | $47.9M |
| Gastos Operativos | $26.5M | $32.9M | $49.4M | $79.4M | $79.9M | $84.4M | $87.1M | $243.2M | $208.6M | $37.9M |
| Beneficio Operativo | -$21.9M | -$27.7M | -$45.5M | -$80.3M | -$81.5M | -$65.6M | -$84.8M | -$242.3M | -$208.6M | -$209.6M |
| EBITDA | -$21.8M | -$27.4M | -$45.2M | -$77.4M | -$79.3M | -$64.1M | -$82.0M | -$127.6M | -$208.0M | -$209.6M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$21.7M | -$27.2M | -$44.3M | -$78.3M | -$80.9M | -$65.7M | -$84.0M | -$338.8M | -$208.0M | -$155.2M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | $141000 | -$136000 | -$26000 | $51000 | -$15000 |
| Beneficio Neto | -$21.7M | -$27.2M | -$44.3M | -$78.3M | -$80.9M | -$65.8M | -$83.8M | -$338.8M | -$208.0M | -$155.2M |
| BPA | $-55.40 | $-45.01 | $-53.25 | $-61.23 | $-37.89 | $-25.02 | $-24.86 | $-46.15 | $-3.18 | $-1.98 |
| BPA Diluido | $-55.40 | $-45.01 | $-53.25 | $-61.23 | $-37.89 | $-25.02 | $-24.86 | $-46.15 | $-3.18 | $-1.98 |
| Acciones en Circulación (Diluidas) | $391669 | $605127 | $832902 | $1.3M | $2.1M | $2.6M | $3.4M | $6.9M | $47.0M | $64.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | $90.5M | 0 | 0 |
| Beneficio Bruto | -$45.2M | $45.2M | 0 | 0 |
| Beneficio Operativo | -$56.9M | -$57.2M | -$45.6M | -$41.6M |
| EBITDA | -$11.2M | -$62.5M | -$75.6M | -$36.2M |
| Beneficio Neto | -$11.2M | -$62.5M | -$69.0M | -$36.2M |
| BPA | $-0.15 | $-0.70 | $-0.74 | $-0.36 |
| BPA Diluido | $-0.15 | $-0.70 | $-0.74 | $-0.36 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $47.7M | $12.8M | $22.5M | $19.3M | $90.1M | $15.1M | $34.9M | $188.9M | $89.4M | $85.7M |
| Inversiones a Corto | $15.8M | $37.5M | $52.1M | $52.7M | $56.2M | $78.0M | $20.8M | $150.4M | $513.7M | $670.8M |
| Cuentas por Cobrar | $1.2M | $3.1M | 0 | 0 | 0 | $815000 | $375000 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $66.4M | $55.0M | $76.7M | $74.5M | $149.8M | $98.9M | $62.3M | $341.5M | $608.5M | $777.8M |
| Inmovilizado Material | $599000 | $854000 | $1.0M | $7.1M | $9.9M | $8.4M | $6.7M | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $67.1M | $56.1M | $77.7M | $83.2M | $161.6M | $109.9M | $71.1M | $341.9M | $608.5M | $777.8M |
| Cuentas por Pagar | $168000 | $389000 | $663000 | $3.2M | $2.3M | $3.3M | $677000 | $896000 | $666000 | $8.9M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $4.0M | $5.6M | $10.2M | $18.4M | $16.4M | $20.1M | $14.7M | $32.0M | $54.1M | $58.7M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $4.1M | $5.7M | $10.3M | $23.1M | $21.8M | $26.0M | $20.8M | $157.8M | $90.7M | $62.5M |
| Reservas | -$45.3M | -$72.5M | -$116.9M | -$195.1M | -$276.0M | -$341.8M | -$425.6M | -$764.4M | -$972.4M | -$1.13B |
| Patrimonio Neto | $63.0M | $50.3M | $67.4M | $60.1M | $139.8M | $83.9M | $50.3M | $184.0M | $517.8M | $715.2M |
| Deuda Total | 0 | 0 | 0 | $5.1M | $5.4M | $5.1M | $4.6M | 0 | 0 | 0 |
| Deuda Neta | -$63.5M | -$50.3M | -$74.5M | -$66.9M | -$140.8M | -$88.1M | -$51.1M | -$339.3M | -$603.1M | -$756.5M |
| Capital Circulante | $62.5M | $49.4M | $66.4M | $56.1M | $133.3M | $78.7M | $47.6M | $309.6M | $554.4M | $719.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $64.9M | $85.7M | $97.2M | $162.0M |
| Activos Totales | $504.6M | $777.8M | $764.0M | $1.17B |
| Pasivos Totales | $49.5M | $62.5M | $93.1M | $71.9M |
| Patrimonio Neto | $455.1M | $715.2M | $670.8M | $1.10B |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$21.7M | -$27.2M | -$44.3M | -$78.3M | -$80.9M | -$65.8M | -$83.8M | -$338.8M | -$208.0M | -$155.2M |
| Amortizaciones | $132000 | $249000 | $293000 | $901000 | $996000 | $1.6M | $1.6M | $744000 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | $6.3M | $8.0M | $7.1M | $25.7M | $44.8M | $37.6M |
| Cambio en Capital Circulante | $1.4M | -$198000 | $7.2M | $7.1M | -$2.5M | $1.8M | -$5.5M | -$5.2M | -$4.5M | -$5.9M |
| Flujo de Caja Operativo | -$18.8M | -$24.6M | -$32.2M | -$65.7M | -$75.8M | -$53.7M | -$80.1M | -$99.9M | -$157.4M | -$169.3M |
| Inversiones (CapEx) | -$212000 | -$619000 | -$422000 | -$1.5M | -$4.3M | -$573000 | -$38000 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $3.0M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$19.1M | -$25.2M | -$32.6M | -$67.2M | -$80.1M | -$54.3M | -$80.2M | -$99.9M | -$157.4M | -$169.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$37.1M | -$44.6M | -$57.4M | -$69.9M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$37.1M | -$44.6M | -$57.4M | -$69.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $9.6M | $9.8M | $12.8M | $13.5M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +12.5% | -25.3% | -100.0% | | | -87.6% | -62.0% | -100.0% | |
| Crecimiento Beneficio Neto (anual) | | -25.5% | -62.8% | -76.5% | -3.4% | +18.7% | -27.4% | -304.2% | +38.6% | +25.4% |
| Crecimiento BPA (anual) | | +18.8% | -18.3% | -15.0% | +38.1% | +34.0% | +0.6% | -85.6% | +93.1% | +37.7% |
| Cambio en Acciones (anual) | | +54.5% | +37.6% | +53.4% | +67.0% | +23.2% | +28.2% | +104.6% | +581.9% | +36.2% |
| Crecimiento FCF (anual) | | -32.4% | -29.3% | -106.0% | -19.2% | +32.2% | -47.7% | -24.6% | -57.6% | -7.5% |
| Margen Bruto | 0.0% | 0.0% | 0.0% | | | 100.0% | 100.0% | 100.0% | | |
| Margen Operativo | -473.3% | -531.7% | -1169.3% | | | -350.3% | -3640.2% | -27348.0% | | |
| Margen EBITDA | -470.5% | -526.9% | -1161.8% | | | -342.0% | -3520.3% | -14401.8% | | |
| Margen Neto | -468.8% | -523.3% | -1140.6% | | | -351.1% | -3598.8% | -38238.1% | | |
| Margen FCF | -411.7% | -484.8% | -838.9% | | | -289.7% | -3442.8% | -11276.5% | | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.2% | 0.2% | 0.0% | -0.0% | 0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-48.64 | $-41.70 | $-39.16 | $-52.57 | $-37.50 | $-20.64 | $-23.78 | $-14.49 | $-3.35 | $-2.64 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $391669 | $605127 | $832902 | $1.3M | $2.1M | $2.6M | $3.4M | $6.9M | $47.0M | $64.1M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Margen bruto | 0.00% |
| Margen operativo | -222.49% |
| Margen neto | -197.71% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 18.53 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1.96 | -3.00 | -3.52 | -3.12 | -5.19 | -4.75 | -0.45 | -0.47 | -7.32 | -16.55 |
| P/VC | 0.68 | 1.63 | 2.31 | 4.06 | 3.00 | 3.72 | 0.75 | 0.81 | 2.11 | 2.93 |
| P/V | 9.20 | 15.72 | 40.11 | 0.00 | 0.00 | 16.67 | 16.28 | 167.52 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% | 100.0% | 100.0% | 0.0% | 0.0% |
| Margen Operativo | -473.3% | -531.7% | -1169.3% | 0.0% | 0.0% | -350.3% | -3640.2% | -27348.0% | 0.0% | 0.0% |
| Margen Neto | -468.8% | -523.3% | -1140.6% | 0.0% | 0.0% | -351.1% | -3598.8% | -38238.1% | 0.0% | 0.0% |