Forty Seven Inc. priced its public offering of 4,860,000 common shares at $35 per share.
The Menlo Park, Calif.-based immuno-oncology company also granted underwriters a 30-day option to buy up to an additional 729,000 common shares at the same price.
Gross proceeds are expected to be $170.1 million.
The offering is expected to close Dec. 16.
Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are joint book-running managers for the offering, while Guggenheim Securities LLC and Oppenheimer & Co. Inc. are acting as lead managers. JonesTrading Institutional Services LLC and Roth Capital Partners LLC are co-managers.
Forty Seven develops therapies for cancer. Its blood cancer therapy magrolimab was granted fast-track designation by the U.S. Food and Drug Administration in September.