ContraFect Corp. priced its offering of 5 million common shares at a $2 per share to raise $10 million in gross proceeds.

The Yonkers, N.Y.-based developer of drugs also granted the underwriters an option to buy up to an additional 750,000 shares.

The offering is expected to close July 31.

Piper Jaffray & Co. and William Blair & Co. LLC are acting as joint book-running managers, and Chardan is acting as the lead manager for the offering.