Spyre Therapeutics prices $350M public offering at $85 per share
Spyre Therapeutics (SYRE) announced the pricing of its underwritten public offering of 4.12M shares of common stock at a public offering price of $85.00 per share. The gross proceeds are expected to be approximately $350M.
In addition, Spyre has granted the underwriters a 30-day option to purchase up to an additional $52.5M of common stock under the same terms.
The offering is expected to close on or about October 7, 2026.
Spyre intends to use the net proceeds to advance its clinical pipeline across Gastroenterology, Rheumatology, and Dermatology, funding preclinical work, clinical trials, manufacturing, and Phase 3 readiness.
The funds will also support a new initiative to advance SPY072 into late-stage development for hidradenitis suppurativa, with any remaining proceeds directed toward ongoing research and development, working capital, and general corporate purposes.
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