Aurinia Pharmaceuticals (NASDAQ:AUPH; TSX:AUP) has priced a public offering of 22.3 million common shares at a price of $6.75 each for gross proceeds of about $150.5 million.
The offering is expected to close on March 20. Leerink Partners and Cantor Fitzgerald are acting as joint book-running managers.
Aurinia has also granted underwriters an option to purchase 3,345,000 additional shares at the same price for a period of up to 30 days.
The company intends to use the net proceeds for research and development activities, including Phase 3 clinical trial activities for lupus nephritis, and working capital purposes.