04:50 AM EDT, 06/28/2024 (MT Newswires) -- Alumis (ALMS) said late Thursday it priced its initial public offering of about 13.1 million common shares at $16 per share.

The clinical-stage biopharmaceutical company granted the underwriters a 30-day over-allotment option to purchase up to about 2 million additional shares. Alumis also said it agreed to sell 2.5 million shares at $16 apiece to one of its existing investors through a concurrent private placement.

Alumis expects total gross proceeds of $250 million from the IPO and the concurrent private placement. The company said the IPO is slated to close on July 1 and its shares are set to start trading on Nasdaq under the "ALMS" ticker from Friday.