WALTHAM,
Mass., Dec. 2, 2024 /PRNewswire/ -- Spyre
Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a
clinical-stage biotechnology company utilizing best-in-class
antibody engineering, rational therapeutic combinations, and
precision medicine approaches to target improved efficacy and
convenience in the treatment of Inflammatory Bowel Disease ("IBD"),
today announced that Spyre's independent Compensation Committee of
the Board of Directors approved the grant of stock options to
purchase an aggregate of 45,000 shares of common stock of Spyre to
three 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 December 2, 2024 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 $27.65 the
closing price per share of Spyre's common stock as reported by
Nasdaq on December 2, 2024. 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) products by combining best-in-class antibody engineering,
rational therapeutic combinations, and precision medicine
approaches. 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.