WALTHAM,
Mass., March 7, 2025 /PRNewswire/ -- Spyre
Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a
clinical-stage biotechnology company utilizing best-in-class
antibody engineering, dose optimization and rational therapeutic
combinations to target improved efficacy and convenience in the
treatment of IBD and other immune-mediated diseases, today
announced that Spyre's independent Compensation Committee of the
Board of Directors approved the grant of stock options to purchase
132,200 shares of common stock of Spyre to five non-executive
employees as equity inducement awards under the Spyre Therapeutics,
Inc. 2018 Equity Inducement Plan, as amended (the "2018 Plan"). The
stock options were approved on March 3,
2025 and were material to each employee's acceptance of
employment with Spyre, in accordance with Nasdaq Listing Rule
5635(c)(4).
The stock options were granted with a 10-year term and an
exercise price equal to $19.49, the
closing price per share of Spyre's common stock as reported by
Nasdaq on March 3, 2025. The options
granted to each employee shall vest and become exercisable as to
one-fourth (1/4th) of the shares subject to the respective options
on the first anniversary of the employee's start date, and
one-forty-eighth (1/48th) of the shares subject to the respective
options shall vest and become exercisable monthly thereafter, in
each case, subject to continuous service with Spyre through the
applicable vesting dates. The stock options are subject to the
terms of the 2018 Plan.
About Spyre Therapeutics
Spyre Therapeutics is a clinical-stage biotechnology company
that aims to create next-generation inflammatory bowel disease
(IBD) and other immune-mediated disease products by combining
best-in-class antibody engineering, dose optimization, and rational
therapeutic combinations. Spyre's pipeline includes investigational
extended half-life antibodies targeting α4β7, TL1A, and IL-23. For
more information, visit Spyre's website at www.spyre.com.
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SOURCE Spyre Therapeutics, Inc.