KemPharm Inc. priced its underwritten public offering of 8,333,334 common shares at $3 apiece.

The company has given underwriters an option to buy up to an additional 1,250,000 common shares.

KemPharm intends to use the net proceeds from the offering to fund a new drug application for KP415, a clinical trial for KP484 and for general corporate purposes.

KP415 and KP484 are being developed to treat attention-deficit/hyperactivity disorder.

The company expects the offering to close Oct. 10.

RBC Capital Markets is acting as the sole book-running manager, while Oppenheimer & Co. Inc. is acting as the lead manager. Janney Montgomery Scott and Roth Capital Partners are acting as co-managers for the offering.