Gyre Therapeutics tumbles after stock offering launch

Gyre Therapeutics

22/05/2025 21:37

**  Shares of Gyre Therapeutics GYRE.O down 17.5% post-market to $9.25 as co seeks equity raise

** San Diego-based biotech commences stock offering; deal size not disclosed

** It intends to use net offering proceeds to fund advancement of Phase II trial of F351 in metabolic dysfunction-associated steatohepatitis ("MASH”)-associated liver fibrosis in the U.S., for R&D, and manufacturing among other uses

** Jefferies lead bookrunner for offering

** Co also says F351 met primary endpoint in pivotal Phase III evaluating efficacy and safety for treatment of fibrosis in patients with chronic hepatitis B in China

** With ~93.8 mln shares outstanding, co has ~$1bln market cap

** GYRE finished up 8.1% at $11.21 on Thurs, cutting YTD loss to ~7%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))