IPO - GYRE THERAPEUTICS, INC.

Form Type: 8-K

Filing Date: 2025-05-23

Corporate Action: Ipo

Type: New

Accession Number: 000114036125020353

Filing Summary: On May 22, 2025, Gyre Therapeutics, Inc. entered into an underwriting agreement with Jefferies LLC to issue and sell 2,222,222 shares of its common stock at a price of $9.00 per share. An additional option for underwriters to purchase 333,333 shares within 30 days was also granted. The anticipated net proceeds from this offering are approximately $18.5 million, aimed at funding a clinical trial for F351, alongside other corporate purposes. The offering conforms to the company's shelf registration statement from November 2024 and is expected to close on May 27, 2025, pending customary conditions. The company has agreed to indemnify the underwriters against specific liabilities.

Form Type: 424B5

Filing Date: 2025-05-22

Corporate Action: Ipo

Type: New

Accession Number: 000114036125020208

Filing Summary: Gyre Therapeutics, Inc. is offering shares of its common stock with a public offering price yet to be determined. The structure of the offering is part of a registration statement under Rule 424(b)(5), following a shelf registration process allowing for the issuance of various equity types up to a total of $150 million. The company has significant operations in the People's Republic of China, exposing it to substantial regulatory risks. Notably, the document highlights results from a pivotal Phase 3 trial for Hydronidone, which showed a statistically significant efficacy for treating liver fibrosis in patients with chronic hepatitis B in China. The trial achieved its primary endpoint, with over 52% of patients showing fibrosis regression, indicating the drug may significantly improve treatment options in a market with high unmet needs. Gyre recently acquired commercial rights for another key product, Nintedanib, enhancing its position in the anti-fibrotic field. The expected use of proceeds from the offering includes advancing clinical trials and general operational costs, while there are risks identified regarding compliance with U.S. securities regulations pertaining to international firms, including potential delisting risks linked to the Public Company Accounting Oversight Board's access to Chinese auditing firms. The company retains smaller reporting status under federal securities laws, subjecting it to reduced disclosure requirements in certain conditions. The filing also notes the underwriters for the offering and the expectation of delivering shares around a specified future date.