Spyre drops on equity offering launch following inflammatory bowel drug trial

Jefferies Financial

13/04/2026 22:16

** Spyre Therapeutics' SYRE.O shares drop nearly 2% after hours as it seeks equity following inflammatory bowel drug data

** SYRE shares jumped 23.4% to finish at $63.27 on Mon after co said its drug, SPY001, showed a significant reduction in disease activity when testing patients with ulcerative colitis in a mid-stage trial

** After the close, the Waltham, Massachusetts-based firm commences $300 mln stock offering

** Jefferies, Goldman Sachs, Evercore and Guggenheim joint bookrunners

** SYRE has ~78.8 mln shares outstanding for $5 bln current market cap

** Including move on Mon, stock up 93% YTD and has surged more than fivefold over the past 12 months

** 9 analysts rate the stock "strong buy", the other 6 rate "buy"; median PT of $79 up from $59.50 a month ago, per LSEG data

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

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