Gyre Therapeutics Inc., a biotechnology company specializing in organ fibrosis, has announced the commencement of an underwritten public offering of its common stock. The company plans to grant underwriters a 30-day option to purchase additional shares at the public offering price, excluding underwriting discounts and commissions. The offering's completion and terms are dependent on market conditions, with no guarantees provided. The proceeds from this offering will be used to advance a Phase 2 clinical trial for F351 in the United States, focusing on MASH-associated liver fibrosis, as well as for research, development, manufacturing, and general corporate purposes. Jefferies is leading the offering as the book-running manager, with H.C. Wainwright & Co. acting as co-manager.
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