Nabriva Therapeutics AG raised $21 million in a rights offering.

It offered 588,127 common shares, including 3,267,750 American depositary shares, where each ADS represents a 10th of a common share.

The Austria-based biopharmaceutical company plans to use these funds for general corporate purposes, including working capital and pre-commercial activities.

Cantor Fitzgerald & Co. is financial adviser to Nabriva and is the sole book-running manager of the underwritten offering.

The expected delivery date is Dec. 19.