Phathom Pharmaceuticals Inc. priced its IPO of 9,563,157 common shares at $19 each — the midpoint of a previously announced range.

The Buffalo Grove, Ill.-based company previously said it expects to price the IPO at between $18 and $20 per share. The company was launched by Takeda Pharmaceutical Co. Ltd., which owns a 9.1% stake, and private equity firm Frazier Healthcare Partners, which has a 41.1% stake.

Phathom also granted underwriters a 30-day option to buy up to an additional 1,434,473 common shares at the same price.

Gross proceeds are expected to be about $181.7 million. The company previously said it plans to use net proceeds to fund the clinical development of vonoprazan — which was developed by the Japanese drugmaker Takeda and is approved in nine countries in Asia and Latin America.

The medicine is used as a single therapy for gastroesophageal reflux disease and a combination treatment with antibiotics for infection caused by H. pylori bacteria.

Proceeds will also be used for working capital and general corporate purposes.

Phathom's common shares are expected to begin trading on the Nasdaq Global Select Market on Oct. 25 under the PHAT symbol. The IPO is expected to close Oct. 29.

Goldman Sachs & Co. LLC, Jefferies and Evercore ISI are acting as joint book-running managers for the offering, while Needham & Co. is acting as lead manager.

Phathom focuses on therapies for the multibillion-dollar acid-reflux market in the U.S. and Europe.

The company is led by co-founder David Socks, who serves as president, CEO, treasurer, secretary and director. As part of a planned transition, Socks will be succeeded by board member Terrie Curran as CEO.