Spyre Therapeutics Inc. (NASDAQ: SYRE) announced the pricing of its public offering of 6.5 million shares of common stock at $62.00 per share. The biotechnology company expects to receive approximately $403.0 million in gross proceeds before underwriting discounts and other offering expenses.

The company granted underwriters a 30-day option to purchase an additional $60.5 million worth of shares at the offering price, less the underwriting discount. The offering represents an increase from the previously announced size.

The transaction is expected to close on or about April 16, 2026, subject to customary closing conditions. Jefferies LLC, Goldman Sachs & Co. LLC, Evercore ISI, and Guggenheim Securities LLC serve as joint book-running managers, while LifeSci Capital LLC acts as passive bookrunner.

Spyre operates as a clinical-stage biotechnology company focused on developing treatments for inflammatory bowel disease and other immune-mediated conditions. The company's pipeline includes investigational extended half-life antibodies targeting a4p7, TL1A, and IL-23.

The offering utilizes a registration statement on Form S-3 that became effective with the Securities and Exchange Commission on February 27, 2026. The company is conducting the offering through a prospectus supplement and accompanying prospectus filed with the SEC.

This information is based on a company press release statement.