Matinas BioPharma Holdings Inc. priced a public offering of its common stock to raise $50 million in gross proceeds.

The Bedminster, N.J.-based biopharmaceutical company is offering 32,260,000 shares at $1.55 apiece. Underwriters will also receive an option to buy up to an additional 4,839,000 shares.

The offering is scheduled to close Jan. 14.

Matinas intends to use the net proceeds from the offering to continue developing its drug candidates — with a main focus on MAT9001 for treating heart and metabolic conditions — and for general corporate purposes.

Piper Sandler & Co. is acting as the sole lead active bookrunner for the offering, with SunTrust Robinson Humphrey also acting as a book runner. BTIG LLC is acting as lead manager and H.C. Wainwright & Co., Maxim Group LLC and Roth Capital Partners are acting as co-managers.