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G1 Therapeutics prices common stock offering

G1 Therapeutics Inc. said March 7 that it priced its underwritten public offering of 3.4 million common shares at $29.50 apiece.

The company expects to raise gross proceeds of $100.3 million through the offering, which is expected to close March 12, subject to customary closing conditions.

Additionally, G1 Therapeutics granted underwriters a 30-day option to buy up to an additional 510,000 shares at the offering price.

J.P. Morgan Securities LLC and Cowen and Co. LLC are acting as joint book-running managers for the offering, with Needham & Co. LLC and Wedbush Securities Inc. as lead managers and BTIG LLC as co-manager.

North Carolina-based G1 Therapeutics develops novel cancer therapies.