Kura Oncology Inc. priced an underwritten public offering of 7,700,000 common shares at $6.50 apiece, for expected gross proceeds of about $50.1 million.

The company also granted underwriters a 30-day option to buy up to an additional 1,155,000 common shares.

The offering is expected to close on or around Aug. 16, subject to customary closing conditions.

Leerink Partners and Cowen are acting as joint book-running managers for the offering, with JMP Securities and Oppenheimer & Co. as co-lead managers.