Spyre Therapeutics stock falls on public offering launch

Investing.com -- Spyre Therapeutics Inc (NASDAQ: SYRE) shares fell 2.9% in after-hours trading Monday following the company's announcement of an underwritten public offering of its common stock.

The clinical-stage biotechnology company said it has commenced the offering on Nasdaq, with underwriters receiving a 30-day option to purchase an additional 15% of the shares offered under the same terms and conditions.

Jefferies, TD Cowen, Leerink Partners and Stifel are acting as joint book-running managers for the proposed offering, while LifeSci Capital serves as passive bookrunner.

Spyre intends to use the net proceeds to advance its programs in Gastroenterology, Rheumatology, and Dermatology, including funding for preclinical studies, clinical trials, manufacturing, and Phase 3 readiness. The company also plans to advance SPY072 into late-stage development for hidradenitis suppurativa. Remaining proceeds will be allocated to ongoing research and development, working capital and general corporate purposes.

The offering is subject to market and other conditions, with no assurance as to whether or when it may be completed, or the actual size or terms.

A registration statement on Form S-3 relating to these securities was filed with the Securities and Exchange Commission and became effective on June 26, 2026. The offering is being made solely by means of a prospectus supplement and accompanying prospectus.

Spyre Therapeutics focuses on developing extended half-life antibodies targeting a4p7, TL1A, IL-23, and IL-17A/F, as well as rational combination programs.

Original Article

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