03:25 AM EDT, 04/12/2024 (MT Newswires) -- Nurix Therapeutics ( NRIX ) said late Thursday it priced an underwritten public offering of 10.2 million shares of common stock at $15 per share for total expected gross proceeds of $175 million.

The company may also issue, in lieu of common shares to certain investors, pre-funded warrants to purchase up to 1.5 million common shares at a price of $14.999 per warrant, it said.

The underwriters have been granted a 30-day option to purchase up to 1.8 million additional shares.

Net proceeds will be used to fund clinical development of drug candidates, research and development, working capital and for general corporate purposes, the San Francisco-based company said.

Closing of the offering is expected to occur on or about April 16, subject to customary closing conditions.

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