05:05 PM EDT, 05/29/2025 (MT Newswires) -- Gyre Therapeutics ( GYRE ) said late Thursday it closed its public offering of 2.55 million common shares at $9 apiece for gross proceeds of $23 million.

The offering includes an additional 333,333 shares purchased by underwriters exercising their overallotment option, according to a statement.

The company said it plans to use the net proceeds for research and development, scaling manufacturing, and to advance its phase 2 trial of F351 for treating metabolic dysfunction-associated steatohepatitis-linked liver fibrosis in the US.