Aimmune Therapeutics Inc. plans to sell $150 million of its common stock in an underwritten public offering.

The company also plans to grant the underwriters an option to buy up to an additional $22.5 million common shares.

Aimmune plans to use the net proceeds to fund its ongoing clinical development of AR101, an investigational biologic to treat patients with peanut allergy, regulatory activities related to the potential filing of a biologics license application and a marketing authorization application for AR101 and preparation for potential commercialization of AR101.

In addition, the proceeds will be used to fund the research and development of additional CODIT product candidates and for general corporate purposes. CODIT is the company's investigational approach to treating food allergies.

Bank of America Merrill Lynch, Cantor Fitzgerald & Co. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Credit Suisse and RBC Capital Markets are acting as book-running managers.