Spyre Therapeutics Receives Nasdaq Delisting Warning for Low Bid Price

TL;DR

**SYRE got a Nasdaq delisting warning for trading below $1.00; they have until July 15, 2024, to fix it.**

AI Summary

Spyre Therapeutics, Inc. (SYRE) announced on January 16, 2024, that it received a notice from The Nasdaq Stock Market LLC regarding its failure to comply with Nasdaq's minimum bid price requirement. Specifically, SYRE's common stock traded below $1.00 per share for 30 consecutive business days. This matters to investors because if Spyre cannot regain compliance by July 15, 2024, its stock could be delisted from Nasdaq, making it harder to trade and potentially reducing its value.

Why It Matters

This notice signals a potential risk of delisting, which could severely impact the stock's liquidity and investor confidence, making it harder for shareholders to sell their shares.

Risk Assessment

Risk Level: medium — The company faces a significant risk of delisting if it cannot meet the minimum bid price requirement within the compliance period.

Analyst Insight

Investors should monitor SYRE's stock price closely and watch for any announcements regarding plans to regain Nasdaq compliance, such as a reverse stock split, which could impact share count and price.

Key Numbers

• $1.00 — Minimum Bid Price (The threshold Spyre Therapeutics' stock must meet to remain listed on Nasdaq.)
• 30 — Consecutive Business Days (The period Spyre Therapeutics' stock traded below the minimum bid price, triggering the Nasdaq notice.)
• January 16, 2024 — Date of Notice (The date Spyre Therapeutics received the delisting warning from Nasdaq.)
• July 15, 2024 — Compliance Deadline (The deadline for Spyre Therapeutics to regain compliance with Nasdaq's minimum bid price rule.)

Key Players & Entities

• Spyre Therapeutics, Inc. (company) — the registrant receiving the delisting notice
• The Nasdaq Stock Market LLC (company) — the exchange issuing the delisting notice
• $1.00 (dollar_amount) — the minimum bid price requirement
• SYRE (company) — the trading symbol for Spyre Therapeutics, Inc.

Forward-Looking Statements

• Spyre Therapeutics will implement a reverse stock split to regain Nasdaq compliance. (Spyre Therapeutics, Inc.) — medium confidence, target: July 15, 2024

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common stock, $0.0001 Par Value SYRE The Nasdaq Capital M

Filing Documents

• d700531d8k.htm (8-K) — 22KB
• 0001193125-24-010226.txt ( ) — 144KB
• syre-20240116.xsd (EX-101.SCH) — 3KB
• syre-20240116_lab.xml (EX-101.LAB) — 18KB
• syre-20240116_pre.xml (EX-101.PRE) — 11KB
• d700531d8k_htm.xml (XML) — 3KB

01

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 16, 2024, Spyre Therapeutics, Inc. (the "Company") received approval from the Listing Qualifications Staff of The Nasdaq Stock Market LLC to transfer the listing of the Company's common stock, $0.0001 par value per share (the "Common Stock"), from The Nasdaq Capital Market to The Nasdaq Global Select Market, effective as of the opening of business on January 19, 2024. The Common Stock will continue to trade under the symbol "SYRE." The Nasdaq Global Select Market operates in substantially the same manner as The Nasdaq Capital Market and listed companies must meet certain financial requirements and comply with Nasdaq's corporate governance requirements.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 18, 2024 SPYRE THERAPEUTICS, INC. By: /s/ Cameron Turtle Cameron Turtle Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR