Gyre Therapeutics announces common stock offering, no amount given

Gyre Therapeutics (GYRE) announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares of common stock to be sold in the offering are being offered by Gyre. Gyre intends to use the net proceeds from this offering, together with its existing cash and cash equivalents and cash flows from operations, to advance its Phase 2 clinical trial of F351 in metabolic dysfunction-associated steatohepatitis-associated liver fibrosis in the United States, for research and development, manufacturing and scale-up, as well as for working capital and general corporate purposes. Jefferies is acting as lead book-running manager for the offering and H.C. Wainwright & Co. is acting as co-manager for the offering.