WALTHAM, Mass. — On October 13, 2025, Spyre Therapeutics, Inc. announced the pricing of its underwritten public offering of common stock. The biotechnology company is set to sell 14,864,865 shares at a price of $18.50 each, with the total anticipated gross proceeds reaching approximately $275 million, before expenses. This move is intended to bolster Spyre's development of treatments for Inflammatory Bowel Disease (IBD) and other immune-mediated conditions.
"The funds we expect to raise through this public offering will significantly enhance our ability to advance our innovative pipeline of therapies aimed at treating IBD and related diseases," said a spokesperson for Spyre Therapeutics. This offering comes as part of the company's ongoing commitment to lead in antibody engineering and tailored therapeutic strategies.
In addition to the primary offering, Spyre has also provided the underwriters the option to purchase up to an additional 2,229,729 shares at the public offering price, less underwriting discounts. This option extends for 30 days after the offering's closing.
The completion of this public offering is anticipated to occur around October 15, 2025, pending the satisfaction of customary closing conditions. Jefferies LLC, TD Securities (USA) LLC, Leerink Partners LLC, and Stifel, Nicolaus & Company, Incorporated will act as the joint book-running managers of the offering, with Wedbush Securities Inc. serving as the lead manager.
"We are eager to engage with our investors as we progress towards the closing of this offering," noted a senior executive at Spyre. This optimistic outlook is further supported by a registration statement that Spyre filed with the Securities and Exchange Commission (SEC), which became effective on March 7, 2025. The offering itself will be made by means of a prospectus supplement along with the associated base prospectus.
Potential investors are encouraged to review these documents, which will contain important details regarding the offering. Copies of the final prospectus supplement and accompanying prospectus will be available via Jefferies LLC and other participating managers.
Spyre Therapeutics is positioned in the biotechnology sector, focused on developing next-generation solutions for users suffering from IBD and other immune-related disorders. Their research includes innovative extended half-life antibodies targeting pivotal markers such as α4β7, TL1A, and IL-23.
It's important to note that this press release does not constitute an offer to sell or a solicitation of an offer to buy securities in jurisdictions where such offers would be illegal prior to registration or qualification under the relevant state laws.
As Spyre moves forward, the focus on its robust pipeline of therapeutic candidates positions it as a company to watch in the biopharmaceutical landscape. Their continued commitment to enhancing treatment modalities for IBD implies a significant impact for patients and a growing interest from investors in the biotech industry.