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.