Spyre Therapeutics sets $350 million stock offering at $85.00 per share
On October 5, 2026, Spyre Therapeutics agreed to sell 4,117,648 shares of common stock at $85.00 per share, with expected gross proceeds of about $350.0 million before underwriting discounts and offering expenses. The underwriters also received a 30-day option to buy up to 617,647 additional shares, and closing is expected on or about October 7, 2026. Because the offering adds new shares, existing shareholders' ownership will be diluted once it closes, and the proceeds are earmarked for pipeline programs in gastroenterology, rheumatology, dermatology, and SPY072 for hidradenitis suppurativa.
Key points
- 4,117,648 shares offered at $85.00 per share, with Jefferies LLC and other firms as representatives of the underwriters
- Expected gross proceeds of about $350.0 million before underwriting discounts and estimated offering expenses
- Underwriters hold a 30-day option to purchase up to 617,647 additional shares; closing expected on or about October 7, 2026
- Proceeds to fund programs in Gastroenterology, Rheumatology and Dermatology, including late-stage development of SPY072 for hidradenitis suppurativa
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.