Spyre Therapeutics gains after boosted $403 mln stock sale

Jefferies Financial

15/04/2026 14:19

** Spyre Therapeutics' SYRE.O shares up 2.3% to $65.50 before the bell following above-planned $403 mln equity raise

** Waltham, Massachusetts-based biotech late Tues sold 6.5 mln shares at $62, a 3.1% discount to stock's last sale

** SYRE shares jumped ~23% to $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

** Subsequently, co launched $300 mln stock offering late Mon

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

** Through Tues close, SYRE stock up 95% YTD. It closed at $12.71 a year ago

** Of 16 analysts, 10 rate the stock "strong buy", 6 "buy"; median PT $80, per LSEG data

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

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