9/1013 sources · 7 publishersUpdated Oct 8, 17:51 UTC
Spyre Therapeutics completes $350 million stock offering priced at $85 per share
Spyre Therapeutics completed a $350 million public offering of common stock after pricing the shares at $85 each. The company said it plans to use the proceeds for clinical development, manufacturing, Phase 3 preparation and other research and corporate needs, including advancing SPY072 for hidradenitis suppurativa.
Why it matters
The financing adds capital for Spyre Therapeutics' immunology pipeline while increasing the number of shares outstanding. The company intends to direct the proceeds toward its gastroenterology, rheumatology and dermatology programs.
Key facts
- 1Spyre Therapeutics priced its public offering at $350.0 million. globenewswire.com
- 2The company said the offering was expected to close on October 7, 2026, subject to customary closing conditions. globenewswire.com
- 3Spyre said underwriters may purchase an additional 15% of the shares offered during a period of 30 days. globenewswire.com
- 4Spyre Therapeutics later said it had completed the $350 million public stock offering. finance.yahoo.com
Open questions
- Reported share count varies between 4.1M and 4.12M.
Summary written by AlphAI from 13 of 13 sources. Not investment advice. Figures are as stated by the linked sources.