Spyre Therapeutics Upsized Public Offering

Spyre Therapeutics, a clinical-stage biotechnology company, announced and subsequently priced an underwritten public offering of its common stock. The initial offering was for $300.0 million, with an option for underwriters to purchase an additional $45.0 million in shares. The offering was later priced at $62.00 per share for 6,500,000 shares, generating approximately $403.0 million in gross proceeds for Spyre Therapeutics. The company also granted underwriters an option to purchase up to an additional $60.5 million of common stock. Jefferies, Goldman Sachs, Evercore, and Guggenheim Partners are acting as joint book-running managers, with LifeSci Capital as a passive bookrunner. The proceeds are intended to fund Spyre Therapeutics' ongoing development of treatments for Inflammatory Bowel Disease and other immune-mediated diseases.