BRIEF—Spyre raises $316M to advance next-gen IBD programs

US clinical-stage biotech Spyre Therapeutics on Wednesday announced the closing of its previously announced underwritten public offering of 17,094,594 shares of its common stock, including the full exercise of the underwriters’ option to purchase up to 2,229,729 additional shares, at a public offering price per share of $18.50. The news sent Sprye’s shares up 5.7% to $22.19.

Sprye is advancing best-in-class antibody engineering, dose optimization, and rational therapeutic combinations for the treatment of inflammatory bowel disease (IBD) and other immune-mediated diseases,

The aggregate gross proceeds to Spyre from the offering were approximately $316.2 million before deducting underwriting discounts and commissions and other offering expenses p