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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
Schedule of Common Stock, Reserved for Future Issuance | Common stock reserved for future issuance is as follows:
|  | March 31, 2025 |  |  | December 31, 2024 |
Options issued and outstanding |  |  | 17,755,938 |  | [1] |  | 18,077,869 |
Preferred Stock Warrants issued and outstanding |  |  | 540,666 |  |  |  | 540,666 |
Total common stock reserved |  |  | 18,296,604 |  |  |  | 18,618,535 |
[1] Includes 6,030,967 options exercisable for shares of common stock, which underlying shares of common stock were transferred in the name of the Company to Futu Network Technology Limited, the stock plan administrator of the 2023 Omnibus Incentive Sub-Plan for Chinese participants. 2024 ATM Program On November 27, 2024, Gyre Therapeutics, Inc. entered into an Open Market Sale Agreement (the “ATM Agreement”) with Jefferies LLC (the “Sales Agent”) as sales agent, pursuant to which the Company may offer and sell, from time to time, through the Sales Agent, shares of Common Stock with aggregate gross sales proceeds of up to $50.0 million through an at-the-market offering program (the “ATM Program”). The Company will pay the Sales Agent a commission of up to 3% of the gross proceeds of any shares sold. The Company also agreed to reimburse the Sales Agent for certain expenses incurred in connection with its services under the ATM Agreement, including up to $135,000 for legal expenses in connection with the establishment of the ATM Program. During the three months ended March 31, 2025, the Company sold 54,734 shares of Common Stock under ATM Program and received net proceeds of $0.5 million, after deducting commissions and offering costs of $8.6 thousand. Sales of shares of Common Stock under the ATM Program may be made pursuant to the registration statement on Form S-3 (File No. 333-283237), which was declared effective by the SEC on November 22, 2024, and a related prospectus supplement filed with the SEC on November 27, 2024.

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