other material
confidence high
sentiment neutral
materiality 0.55
Spyre Therapeutics prices $350M stock offering at $85.00/share to fund SPY072 Phase 3 push in hidradenitis suppurativa
Spyre Therapeutics, Inc.
- Underwriting agreement dated October 5, 2026 with Jefferies, TD Securities, Leerink Partners and Stifel for 4,117,648 shares at $85.00/share, about $350.0M gross.
- Underwriters granted a 30-day option on up to 617,647 additional shares; offering expected to close on or about October 7, 2026.
- Proceeds fund Gastroenterology, Rheumatology and Dermatology programs, including preclinical studies, clinical trials, manufacturing and Phase 3 readiness.
- Part of the net proceeds will advance SPY072 into late-stage development for hidradenitis suppurativa, plus general infrastructure and potential in-licensing or acquisitions.
- Offering made under shelf registration statement on Form S-3 (File No. 333-297063) effective June 26, 2026; final prospectus supplement dated October 5, 2026.