BUZZ - Spyre Therapeutics shares tumble due to $350 million stock offering
路透社2026/10/06 11:26On 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.)
October 6 - ** Spyre Therapeutics (SYRE.O) shares fell 4.1% in premarket trading to $88.90 after the company priced a subsequent $350 million financing
** The biotechnology company announced late Monday (link) that it is offering approximately 4.1 million shares at $85 each, an 8.3% discount to the last closing price
** The company plans to use the net proceeds to advance its projects in gastroenterology, rheumatology, and dermatology, and to move forward with a new project—advancing SPY072 to late-stage development for the chronic skin disease “hidradenitis suppurativa,” among other uses
** Jefferies, TD Cowen, Leerink, and Stifel served as joint bookrunners
** On September 30, Merck (MRK.N)’s drug tulisokibart succeeded in a dermatology clinical trial (link), after which SYRE shares rose roughly 5%; analysts said the data supports SYRE's experimental candidate targeting the same pathway
** SYRE, headquartered in Waltham, Massachusetts, had about 88.2 million shares outstanding before the offering
** As of Monday’s close, the stock has risen 183% year-to-date
** According to LSEG data, out of 17 analysts, 16 give the stock a “strong buy” or “buy” rating, 1 rates it “hold”; the median price target is $123
(To assist non-native English speakers, Reuters automates the translation of its reports into several other languages. Because automated translation may be faulty or lack necessary context, Reuters does not guarantee the accuracy of automated translation texts, which are provided solely for reader convenience. Reuters assumes no liability for any damage or loss caused by the use of automated translation functionality.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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