By Katherine Hamilton
Latigo Biotherapeutics increased its initial public offering to 19.2 million shares for $18 apiece.
The clinical-stage biopharmaceutical company previously planned to sell 16 million shares at between $16 and $18 apiece.
Latigo now expects gross proceeds to be $345.6 million.
Underwriters also have a 30-day option to buy up to an additional 2.88 million shares at the same price, minus discounts and commissions.
The company, which develops non-opioid pain medicines, plans to trade on Nasdaq under the symbol LTGO. Trading is set to start Friday, with the offering to close Aug. 10.
It intends to use the proceeds from the offering to advance its clinical pipeline, including its lead product candidate LTG-001.
Write to Katherine Hamilton at katherine.hamilton@wsj.com