Spyre Therapeutics Announces Proposed Public Offering of its Common Stock and Pre-Funded Warrants
Summary
WALTHAM, Mass., Nov. 18, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. ("Spyre" or the "Company") (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of inflammatory bowel disease ("IBD"), today announced that it has commenced an underwritten public offering of up to $200.0 million of shares of its common stock or, in lieu of issuing common stock to certain investors, pre-funded warrants to purchase shares of its common stock. LifeSci Capital LLC is acting as lead manager for the proposed offering.A registration statement on Form S-3 (File No. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Spyre Therapeutics is a biotechnology company that aims to create the next-generation of inflammatory bowel disease (IBD) products by combining best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches. Spyres pipeline includes investigational extended half-life antibodies targeting 47, TL1A, and IL-23.This press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "predict," "target," "intend," "could," "would," "should," "project," "plan," "expect," the negatives of these terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the Companys anticipated completion of the offering, market conditions and satisfaction of customary closing conditions related to the offering, the expected or potential impact of macroeconomic conditions, including inflationary pressures, rising interest rates, general economic slowdown or a recession, changes in monetary policy, volatile market conditions, financial institution instability, as well as geopolitical instability, including the ongoing military conflict in Ukraine, conflict in Israel and surrounding areas, and geopolitical tensions in China on the Companys operations, the potential impacts of the BIOSECURE Act bill if passed into law and those risks described in the Companys most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, as well as in other filings and reports that the Company makes from time to time with the SEC.