Financing ·
Spyre Therapeutics prices $350M equity offering of 4.1 million shares at $85 per share
SYRESpyre Therapeutics, Inc.
Spyre Therapeutics, Inc. entered into an underwriting agreement to sell 4,117,648 shares of common stock at a public offering price of $85.00 per share, generating approximately $350.0 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to an additional 617,647 shares on the same terms. The offering is expected to close around October 7, 2026. Spyre intends to use the net proceeds to advance programs in gastroenterology, rheumatology, and dermatology, fund preclinical studies and clinical trials, support Phase 3 readiness for SPY072 in hidradenitis suppurativa, develop infrastructure, and potentially acquire or in-license new technologies. The company operates as a biopharmaceutical firm focused on developing novel therapies for inflammatory diseases.