Nabriva Therapeutics PLC priced an underwritten public offering of 18,181,818 ordinary shares at $2.75 per share.

The Dublin-based biopharmaceutical company also granted underwriters a 30-day option to buy up to an additional 2,727,272 ordinary shares at the same price.

The offer is expected to close on or about July 31. The company expects about $50 million in proceeds from the offering.

Morgan Stanley is acting as sole book-running manager for the offering, while Needham & Co., SunTrust Robinson Humphrey, and Wedbush PacGrow are acting as lead managers. Northland Capital Markets is acting as a manager for the offering.