BUZZ - Spyre Therapeutics shares tumble due to $350 million stock offering

路透社2026/10/06 11:26

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On October 6, Spyre Therapeutics (SYRE.O) shares fell 4.1% to $88.90 in pre-market trading after the company priced a $350 million follow-on offering. The biotechnology firm announced late Monday that it was issuing approximately 4.1 million shares at $85 per share, an 8.3% discount to its last closing price. The company plans to use the net proceeds to advance its programs in gastroenterology, rheumatology, and dermatology, as well as to move a new project—SPY072—into later-stage development for the chronic skin disease hidradenitis suppurativa, among other uses. Jefferies, TD Cowen, Leerink, and Stifel are acting as joint book-running managers for the offering. On September 30, Merck’s (MRK.N) tulisokibart achieved success in a dermatology clinical trial, after which SYRE shares climbed about 5%. Analysts noted that the trial data supports SYRE's experimental candidate targeting the same signaling pathway. Headquartered in Waltham, Massachusetts, SYRE had around 88.2 million shares outstanding prior to the offering. As of Monday’s close, the stock had risen 183% year-to-date. According to LSEG data, 16 of 17 analysts rate the stock a “strong buy” or “buy,” with one analyst rating it “hold.” The median price target is $123. (For the convenience of non-English speakers, Reuters provides automated translations of its reports. Automated translations may contain errors or lack necessary context; Reuters makes no guarantee regarding the accuracy of machine translations and provides them for readers’ convenience only. Reuters accepts no liability for any damage or loss resulting from the use of automated translation.)

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