WALTHAM,
Mass., Dec. 22, 2023 /PRNewswire/ -- Spyre
Therapeutics, Inc. ("Spyre") (NASDAQ: SYRE), a biotechnology
company advancing a pipeline of antibody therapeutics with the
potential to transform the treatment of inflammatory bowel disease
("IBD"), today announced that Spyre's independent Compensation
Committee of the Board of Directors approved the grants of stock
options to purchase an aggregate of 411,000 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 18, 2023 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 $15.81, the
closing price per share of Spyre's common stock as reported by
Nasdaq on December 18, 2023. 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 biotechnology company that aims to
create the next-generation of inflammatory bowel disease (IBD)
products by combining best-in-class antibody engineering, rational
therapeutic combinations, and precision medicine approaches for
patient selection. Spyre's pipeline includes extended half-life
antibodies targeting α4β7, TL1A, and IL-23. For more information,
visit Spyre's website at www.spyre.com.
Follow Spyre Therapeutics on social media: @spyretx and
LinkedIn
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SOURCE Spyre Therapeutics, Inc.