Spyre Therapeutics, Inc. (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of inflammatory bowel disease, today announced the pricing of its previously announced underwritten public offering of 7,275,000 shares of its common stock at a price to the public of $27.50 per share. The aggregate gross proceeds to the Company from this offering are expected to be $200.0 million, before deducting underwriting discounts and commissions and other offering expenses. In addition, the Company has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 1,091,250 shares of the Company’s common stock at the public offering price, less the underwriting discount.
The offering is expected to close on or about November 20, 2024, subject to satisfaction of customary closing conditions. Jefferies LLC, Goldman Sachs & Co. LLC, Evercore Group L.L.C., and Guggenheim Securities, LLC are acting as the joint book-running managers for the offering. LifeSci Capital LLC is acting as lead manager for the proposed offering.
About Spyre Therapeutics
Spyre Therapeutics is a biotechnology company that aims to create the next-generation of inflammatory bowel disease (IBD) products by combining best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches. Spyre’s pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23.
