Ampio Pharmaceuticals Inc. priced an offering of securities, hoping to raise $8.0 million.

The company is selling 20.0 million shares at 40 cents each, complete with warrants to buy up to an equal number of additional stock, also for 40 cents each.

Englewood, Colo.-based Ampio Pharmaceuticals will use the net proceeds for working capital and general corporate purposes, such as the continued preclinical development of Ampion, an investigational treatment of pain caused by osteoarthritis of the knee, and funding the drug's clinical trial.

Canaccord Genuity is acting as the sole book-running manager for the offering, which is expected to close by Aug. 13.