Spyre Therapeutics, Inc. (Nasdaq: SYRE), a clinical-stage biotechnology company based in Waltham, Mass., announced the launch of an underwritten public offering of its common stock, according to a press release.

The company plans to grant underwriters a 30-day option to purchase an additional 15% of the shares offered, under the same terms and conditions. The offering remains subject to market conditions, with no assurance on timing, size, or completion.

Spyre stated it intends to use the net proceeds to advance programs in gastroenterology, rheumatology, and dermatology, including funding for preclinical studies, clinical trials, manufacturing, and Phase 3 readiness. The company also plans to use proceeds to advance SPY072 into late-stage development for hidradenitis suppurativa. Remaining proceeds will support other research and development, working capital, and general corporate purposes.

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

A registration statement on Form S-3 filed with the Securities and Exchange Commission became effective June 26, 2026.