San Diego’s Heron Therapeutics Inc. plans to raise $150 million in a public offering of its common stock.
The company, which makes and sells pharmaceutical products for patients suffering from cancer or pain, is offering shares of its stock for $12.20 per share.
Heron is also granting the underwriters a 30-day option to purchase an additional $22.5 million worth of shares of common stock.
The firm will use the money for general corporate purposes, including the commercialization and marketing for its anti-nausea drugs Sustol and Cinvanti, along with further clinical trials for its pipeline.
The offering is expected to close Tuesday, Jan. 24.