Heron Therapeutics Inc. priced an underwritten public offering of $150 million worth of common shares at $12.20 apiece.

The underwriters were given a 30-day option to buy an additional $22.5 million worth of common shares.

The issue is expected to close by Jan. 24.

The company intends to use the net proceeds for general corporate purposes, including the commercialization of Sustol and launch of Cinvanti.

BofA Merrill Lynch, Cowen and Co. LLC and Leerink Partners LLC are acting as joint book-running managers for the offering.

Cantor Fitzgerald & Co. and JMP Securities LLC are acting as lead managers while Noble Capital Markets, LifeSci Capital, Aegis Capital Corp. and Lake Street Capital Markets are acting as co-managers for the issue.