Spyre Therapeutics closes $316.2 million public offering

Spyre Therapeutics Inc. (NASDAQ: SYRE) completed its underwritten public offering of 17,094,594 shares of common stock at $18.50 per share, generating gross proceeds of approximately $316.2 million before deducting underwriting discounts and other expenses.

The offering included the full exercise of underwriters' option to purchase an additional 2,229,729 shares. Jefferies LLC, TD Securities (USA) LLC, Leerink Partners LLC and Stifel, Nicolaus & Company, Incorporated served as joint book-running managers, while Wedbush Securities Inc. acted as lead manager.

The clinical-stage biotechnology company focuses on developing treatments for inflammatory bowel disease and other immune-mediated diseases through antibody engineering and therapeutic combinations. Spyre's pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23.

The offering was conducted under a registration statement on Form S-3 that became effective with the Securities and Exchange Commission on March 7, 2025. The company stated the offering was made solely through a prospectus supplement and accompanying prospectus filed with the SEC.

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