Spyre Therapeutics shares fall on common stock offering announcement
SYRE Spyre Therapeutics Inc
$85.69 +7.25%
View chart & analysis → - 1Spyre Therapeutics shares fell 2.9% in after-hours trading on Monday.
- 2Spyre Therapeutics has commenced a common stock offering on Nasdaq, with underwriters holding an option to purchase up to an additional 15% of shares within 30 days.
- 3Spyre Therapeutics plans to use the net proceeds for preclinical research, clinical trials, manufacturing, and Phase 3 preparation for its gastroenterology, rheumatology, and dermatology programs.
So what's the key point?
Spyre Therapeutics announced it will issue new shares. The company plans to use the funds to support disease research and prepare for clinical trials.
Source Investing.com · View original ↗
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