04:00 AM EDT, 10/25/2024 (MT Newswires) -- Septerna (SEPN) said late Thursday it priced its initial public offering of 16 million shares at $18 per share for expected gross proceeds of $288 million.

The clinical-stage biotechnology company granted underwriters a 30-day option to purchase up to an additional 2.4 million shares.

The shares are expected to begin trading on the Nasdaq Global Market on Friday under the ticker symbol 'SEPN,' with the offering anticipated to close on Oct. 28.