SEC Comment Letter for Spyre Therapeutics, Inc. (SYRE) (CIK 0001636282) (SYRE) — Mar 30, 2016
Spyre Therapeutics, Inc. (SYRE) (CIK 0001636282)
Date: March 30, 2016 · CIK: 0001636282 · Accession: 0000000000-16-070239
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File numbers found in text: 333-205001
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Mail Stop 4720 March 29, 2016 David G. Lowe, Ph.D. Chief Executive Officer Aeglea BioTherapeutics, Inc. 901 S. MoPac Expressway Barton Oaks Plaza One Suite 250 Austin, TX 78746 Re: Aeglea BioTherapeutics, Inc. Amendment No. 4 to Registration Statement on Form S -1 Filed March 28, 2016 File No. 333-205001 Dear Dr. Lowe : We have reviewed your amended registration statement and have the following comment. Please respond to this letter by amending your registration statement and providing the requested information . If you do not believe our comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewi ng any amendment to your registration statement and the information you provide in response to this comment , we may have additional comments. Notes to Consolidated Financial Statements 6. Convertible Preferred Shares/Stock Conversion, page F -18 1. Throughout your prospectus, you assume the automatic conversion of all outstanding shares of your convertible preferred stock into shares of common stock immediately prior to the completion of this offering. Since your offering does not appear to fulfil l the conditions of the automatic conversion herein, please tell us your basis for assuming the automatic conversion. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing inc ludes the information the Securities Act of 193 3 and all applicable Securities Act rules require. Since the company and its management are in David G. Lowe, Ph.D. Aeglea Bi oTherapeutics, Inc. March 29, 2016 Page 2 possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. Notwithstanding our comments, in the event you request acceleration of the effective date of the pending regist ration statement, please provide a written statement from the company acknowledging that: should the Commiss ion or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from taking any action with respect to the filing; the action of the Commission or the staff, acting pursuant to delegated author ity, in declaring the filing effective, does not relieve the company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and the company may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please refer to Rules 460 and 461 regarding reque sts for acceleration . We will consider a written request for acceleration of the effective date of the registration statement as confirmation of the fact that those requesting acceleration are aware of their respective responsibilities under the Securitie s Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities specified in the above registration statement. Please allow adequate time for us to review any amendment prior to the requested effectiv e date of the registration statement. You may contact Keira Nakada at (202) 551 -3659 or Joel Parker at 202 -551-3651 if you have questions regarding comments on the financial statements and related matters. Please contact Christina Thomas at (202) 55 1-3577, Mary Beth Breslin at (202) 551 -3625 or me at (202) 551 -3675 with any other questions. Sincerely, /s/ Mary Beth Breslin for Suzanne Hayes Assistant Director Office of Healthcare and Insurance cc: Robert A. Freedman Fenwick & West LLP