Principia Biopharma Inc. priced its underwritten public offering of 7.5 million common shares at $28 each.

The South San Francisco, Calif.-based company also granted underwriters a 30-day option to buy up to 1,125,000 additional common shares at the same price.

Principia expects $210 million in gross proceeds from the offering.

The offer is expected to close on or about Oct. 18.

BofA Merrill Lynch, SVB Leerink, and Wells Fargo Securities are acting as joint book-running managers for the offering, while Baird is lead manager, while H.C. Wainwright & Co. is co-manager for the offer.

Principia Biopharma Inc. develops therapies for immunology and oncology.