Spyre Therapeutics, Inc. announced the pricing of its underwritten public offering of 7,275,000 shares of its common stock at a price of $27.50 per share. The aggregate gross proceeds from this offering are expected to be $200.0 million.
The company also granted the underwriters a 30-day option to purchase up to an additional 1,091,250 shares of common stock at the public offering price. The offering is expected to close on or about November 20, 2024, subject to customary closing conditions.
This financing event is intended to strengthen Spyre's balance sheet, providing capital to fund its ongoing research and development activities, including the advancement of its pipeline of antibody therapeutics for inflammatory bowel disease.
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