Le Lézard
Classified in: Health, Science and technology

Spyre Therapeutics Announces Grants of Inducement Awards


WALTHAM, Mass., March 1, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a development-stage biotechnology company advancing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches for 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 166,200 shares of common stock of Spyre to four 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 1, 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 $29.90, the closing price per share of Spyre's common stock as reported by Nasdaq on March 1, 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 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 extended half-life antibodies targeting ?4?7, TL1A, and IL-23. For more information, visit Spyre's website at www.spyre.com.

Follow Spyre Therapeutics on social media: @spyretx and LinkedIn

Spyre Therapeutics, Inc. (PRNewsfoto/Spyre Therapeutics, Inc.)

 

SOURCE Spyre Therapeutics, Inc.


These press releases may also interest you

at 15:00
Agilix Labs, a pioneer in educational technology, and Amazon Web Services (AWS) are excited to announce a partnership that propels educational innovation into the cloud era. This collaboration cements Agilix Labs as an AWS Public Sector Partner, AWS...

at 13:00
NAB Show -- Chelsio Communications, Inc., a leading provider of high-performance (1/10/25/40/50/100/200/400Gb) Ethernet Unified Wire Adapters and ASICs for storage networking, virtualized enterprise datacenters, cloud service installations, and...

at 12:05
ShadowDragontm, a provider of ethical open-source intelligence (OSINT) software, unique datasets and APIs, is pleased to announce significant enhancements to its flagship Open-Source Intelligence Investigative platform Horizon®. These updates...

at 12:00
MSI, a leading global server provider, is showcasing its latest GPU servers powered by AMD processors at the 2024 NAB Show, Booth #SL9137 in the Las Vegas Convention Center from April 14-17. These servers are designed to meet the evolving needs of...

at 07:00
Stringr, a leading digital marketplace for videography, unveiled its innovative GenAI content creation tools at the NAB Show 2024 in Las Vegas, marking a significant advancement in news and video production. The GenAI suite, including EventGen,...

at 02:05
QStar Technologies Inc., a world leader in active archive software for tape libraries, today announces QStar Global ArchiveSpacetm, a new multi-node gateway software solution that cost-effectively supports the massive archive needs of high...



News published on and distributed by: