Spyre Therapeutics Secures $463.5 Million from 7.475 Million-Share Offering at $62
Spyre Therapeutics closed an underwritten public offering of 7,475,000 common shares, including the full exercise of 975,000 additional shares, at $62 per share. The offering generated approximately $463.5 million in gross proceeds before underwriting discounts, commissions and expenses.
1. Offering Structure and Proceeds
Spyre Therapeutics completed an underwritten public offering of 7,475,000 common shares, including full exercise of a 975,000-share overallotment option, at $62.00 per share. The issuance raised roughly $463.5 million in gross proceeds, with Jefferies, Goldman Sachs, Evercore ISI, Guggenheim Securities as joint bookrunners and LifeSci Capital as passive bookrunner.
2. Spyre Pipeline and Financial Position
As a clinical-stage biotechnology company, Spyre pioneers long-acting antibodies and combinations targeting inflammatory bowel disease and rheumatic diseases. The new capital will bolster its balance sheet and support ongoing development of its extended half-life antibody candidates against α4β7, TL1A and IL-23.