SYRE
Spyre Therapeutics Announces Pricing of Upsized $403.0 Million Public Offering of Common Stock
Article Summary
HOLD- Spyre Therapeutics Inc. (Nasdaq: SYRE) announced pricing of previously announced underwritten public offering of 6,500,000 shares of its common stock at price to the public of $62.00 per share, with gross proceeds expected to be approximately $403.0 million, before deducting underwriting discounts and commissions and other offering expenses.
- The clinical-stage biotechnology company advancing best-in-class antibody engineering, dose optimization, and rational therapeutic combinations for treatment of Inflammatory Bowel Disease and other immune-mediated diseases granted underwriters option for period of 30 days to purchase additional approximately $60.5 million of shares at public offering price less underwriting discount.
- The offering is expected to close on or about April 16, 2026 subject to satisfaction of customary closing conditions, with Jefferies LLC, Goldman Sachs & Co.
- LLC, Evercore ISI, and Guggenheim Securities LLC acting as joint book-running managers.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | -100.0% | 25% | 0.0 ptsDeclining (-100.0%) - NOT a growth stock |
| EPS Growth Next 5Y ? | -18.7% | 25% | 0.0 ptsNegative (-18.7%) - Declining expectations |
| Target Price Upside ? | 37.6% | 20% | 85.0 ptsLarge Upside (37.6%) - Target: $88.07 vs Current: $64.01 |
| Gross Margin % ? | — | 15% | 40.0 ptsNo Gross Margin Data |
| Drawdown from 52-Wk High ? | -14.7% | 15% | 40.0 ptsMild Pullback (-14.7%) - Light entry opportunity |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About SYRE
- Spyre Therapeutics, Inc., a clinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD) and rheumatic diseases.
- The company develops SPY001, a humanized monoclonal immunoglobulin G1 antibody that is in phase-2 clinical stage designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease); and SPY002 and SPY072 – anti-TL1A mAbs designed to bind to tumor necrosis factor-like ligand 1A (TL1A).
- It is also developing SPY003, a clinical-stage program, which is in phase-2 clinical stage designed to bind to interleukin 23 (IL-23); SPY120, a combination of anti-a4ß7 and anti-TL1A mAbs; SPY130, a combination anti-a4ß7 and anti-IL-23 mAbs; and SPY230, a combination anti-TL1A and anti-IL-23 mAbs.
- The company was formerly known as Aeglea BioTherapeutics, Inc. and changed its name to Spyre Therapeutics, Inc. in November 2023.
- The company was incorporated in 2013 and is based in Waltham, Massachusetts.