Spyre Therapeutics: files 8-K for $350,000,000 common stock offering

What happened Spyre Therapeutics reported that it entered into an underwriting agreement with Jefferies LLC, TD Securities (USA) LLC, Leerink Partners LLC and Stifel, Nicolaus & Company, Incorporated, as representatives of the underwriters, relating to the offer and sale of 4,117,648 shares of common stock at a public offering price of $85.00 per share. The company granted the underwriters a 30-day option to purchase up to an additional 617,647 shares. The Offering is expected to close on or about Oct 7, 2026, subject to customary closing conditions.

Key details

• Gross proceeds to the company are expected to be approximately $350,000,000, before underwriting discounts, commissions and expenses.
• The company intends to use net proceeds to advance programs in Gastroenterology, Rheumatology and Dermatology, fund preclinical studies, clinical trials, manufacturing and Phase 3 readiness, and advance SPY072 into late-stage development for hidradenitis suppurativa, among other corporate purposes.
• The Offering is being made under the company’s shelf registration statement on Form S-3 (File No. 333-297063), which became effective Jun 26, 2026; a final prospectus supplement is dated Oct 5, 2026 and was filed Oct 6, 2026.
• The underwriting agreement contains customary representations, warranties, indemnities and conditions to closing; an opinion of counsel is filed as Exhibit 5.1 and the underwriting agreement is filed as Exhibit 1.1.

Why it may matter This filing reports Item 1.01 (entry into a material definitive agreement) for the underwriting agreement covering the Offering. This filing does not show why the company acted.