** Shares of Gyre Therapeutics GYRE.O down 17.5% post-market to $9.25 as co seeks equity raise
** San Diego-based biotech commences stock offering; deal size not disclosed
** It intends to use net offering proceeds to fund advancement of Phase II trial of F351 in metabolic dysfunction-associated steatohepatitis ("MASH”)-associated liver fibrosis in the U.S., for R&D, and manufacturing among other uses
** Jefferies lead bookrunner for offering
** Co also says F351 met primary endpoint in pivotal Phase III evaluating efficacy and safety for treatment of fibrosis in patients with chronic hepatitis B in China
** With ~93.8 mln shares outstanding, co has ~$1bln market cap
** GYRE finished up 8.1% at $11.21 on Thurs, cutting YTD loss to ~7%
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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