09:14 AM EDT, 08/19/2024 (MT Newswires) -- Phathom Pharmaceuticals ( PHAT ) said Monday it has priced its offering of 8.7 million shares of its common stock, and pre-funded warrants to purchase 2.6 million shares.

Expected to result in gross proceeds of $130 million, the shares will be priced at $11.50 per share, and warrants will be priced at $11.499 per warrant, the company said.

The offering is expected to close Tuesday.

The gastrointestinal disease-focused pharmaceutical company plans to use the proceeds to further develop and market vonoprazan, its treatment for esophagitis, and for working capital and general corporate purposes.

Price: 12.17, Change: -0.28, Percent Change: -2.25